News Column

Disappointing Earnings News May Weigh On Wall Street In Early Trading

July 25, 2014

WASHINGTON (Alliance News) - After showing a lack of direction throughout much of the previous session, stocks may move to the downside in early trading on Friday. The major index futures are currently pointing to a modestly lower open for the markets, with the Dow futures down by 23 points.

A negative reaction to the latest batch of earnings news is likely to weigh on the markets, with shares of Amazon (AMZN) falling sharply in pre-market trading.

The downward momentum for Amazon comes after the online retailer reported a wider than expected second quarter loss after the close of trading on Thursday.

Credit card giant Visa (V) may also come under pressure in early trading after reporting better than expected third quarter earnings but lowering its full-year revenue guidance.

Pandora (P) and Starbucks (SBUX) are also moving notably lower in pre-market trading after reporting their quarterly results, while share of Baidu (BIDU) are showing a strong move to the upside.

Geopolitical concerns may also contribute to early weakness on Wall Street, as traders keep a close eye on the ongoing conflicts in Ukraine and Gaza.

Meanwhile, the futures did not show much reaction to a report from the Commerce Department showing a bigger than expected rebound in durable goods orders in the month of June.

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Source: Alliance News

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