(MENAFN– ecpulse) Stock markets were set for another lower open Thursday, further retreating from record highs earlier this week as investors weighed in the latest wave of mixed corporate results.
Most global stock indices were trading lower this morning and U.S. stock futures slipped slightly, each with losses over 0.5%.
Futures on the Dow Jones Industrial Average lost 0.535% to 15417 points. The S&P 500 index futures dropped 0.624% to 1673.30. The NASDAQ 100 futures dropped 0.591% to 3030.00. As of 06:17 a.m. ET
On the earnings front, more than a third of the companies in the S&P 500 index have already posted second-quarter results. More than 65% had topped analysts’ expectations.
Companies such as General Motors and Dow Chemical are due before the opening bell Thursday to report quarterly results. Amazon and Starbucks are due after closing.
Facebook shares climbed in after-hours trading after the company reported solid quarterly results, boosted by accelerated growth in its mobile-ad business.
U.S. stocks finished roughly lower yesterday, but losses were limited after a tech rally that was fueled by Apple Inc. ’s better-than-estimated earnings. Caterpillar , AT&T, and BroadCom all delivered earnings short of Wall Street’s estimates.
In economic news, the government will publish its weekly report on initial jobless claims at 8:30 a.m. ET, and the Census Bureau will release data on durable goods orders.
On the international stage, European markets were lower in morning trading. London`s benchmark FTSE 100 index and Germany`s DAX were leading the way down.
Asian markets ended with narrow losses, even as the Chinese government announced a mini-stimulus plan that should give a boost to certain areas of the economy, including small businesses.
Hong Kong`s Hang Seng index lost 0.3% and the Shanghai Composite index declined by 0.6%.
In Japan, Tokyo`s Nikkei fell by 1.1%.
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