(MENAFN– ecpulse) U.S. stock markets are looking spirited as the second quarter earnings season kicks off.
U.S. stock futures edged higher Monday, with the main indices gaining at least 0.4%.
Futures on the Dow Jones Industrial Average were higher by 0.464% at 15146. The S&P 500 index gained 0.553% to 1636.30 points. The NASDAQ 100 futures advanced 0.617% to 2974.75 points. As of 06:36 a.m. ET
U.S. stocks finished higher Friday following a strong monthly jobs report . Investors seemed to set aside concerns about the Federal Reserve and focused on the improved outlook for economic growth.
European markets made strong advances in morning trading. Both benchmark indexes in Germany and France were pushing ahead by 1.5%.
But Asian markets ended in the red. The Hang Seng index and the Nikkei in Japan both dropped by 1.3% and 1.4%, respectively. The Shanghai Composite index fell even further, down by 2.4%, on continuing concerns about slowing growth in China.
In economic news, The Federal Reserve is due to release its monthly figures on consumer credit at 03:00 p.m. ET
Corporate Earnings
Second-quarter earnings season kicks off with results after the bell from aluminum producer Alcoa .
The company is still economically significant and is the first Dow component to report. The industrial bellwether is expected to report a slight decline in revenue but improved earnings per share, according to analysts
Results are due later in the week from firms including Yum! Brands, JPMorgan and Wells Fargo, and investors will be looking for signs of economic growth working through into stronger revenues.
Results from two of the nation’s biggest banks, J.P. Morgan and Wells Fargo, on Friday will offer investors a fresh look into the state of the financial industry. Analysts expect both firms to see a boost in profit for the period, while revenue is expected to improve at J.P. Morgan and come in flat from a year earlier for Wells Fargo.
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