A previous version incorrectly identified the housing-market indicator due for release. It’s pending-home sales.
U.S. stock futures edged higher Thursday ahead of a report on the health of the U.S. economy, as investors await the trading debut of online brokerage Robinhood Markets.
What’s happening
-
Futures on the Dow Jones Industrial Average
YM00,
+0.36%
rose 140 points; -
Futures on the S&P 500
ES00,
+0.15%
rose 0.2%; -
Futures on the Nasdaq 100
NQ00,
-0.13%
slipped 0.2%.
On Wednesday, the Dow
DJIA,
-0.36%
and the S&P 500
SPX,
-0.02%
closed lower, while strong results from Google owner Alphabet
GOOGL,
+3.18%
carried the Nasdaq Composite
COMP,
+0.70%
higher.
What’s going on
The Commerce Department reports second-quarter gross domestic product figures, with expectations for an 8.5% annualized rise. There’s also weekly jobless claims and pending home sales data due for release.
Earnings season continues as online retailing giant Amazon.com
AMZN,
+0.11%
reports after the close of trade. Facebook
FB,
+1.49%
shares were trading lower in premarket action as the social media giant, like other tech titans, beat second-quarter earnings estimates but also guided to slowing revenue growth in the second half of the year.
Like Facebook, PayPal
PYPL,
+0.50%
also beat estimates but said current quarter sales would miss expectations.
Robinhood Markets
HOOD,
makes its long-awaited debut after pricing its initial public offering at the low end of expectations.
Other markets
The Hang Seng
HSI,
+3.30%
rallied 3.3% on reports Chinese authorities tried to placate top foreign institutions about a wave of regulatory actions. China has no intention to decouple from global markets, the Wall Street Journal quoted the vice chairman of the China Securities Regulatory Commission as saying.