Friday July 21st

21-07-2017

Bumper earnings dominate on Wall Street as General Electric, Honeywell report

U.S. stock index futures pointed to a relatively flat open on Friday, as investors continued to wade through another selection of corporate earnings. In earnings news, General Electric, Honeywell, and SunTrust are some of the major names that reported before the bell, among others. Looking to commodities, oil prices fell 1 percent after a Reuters report said OPEC supply was set to increase for July. At 8:02 a.m. ET on Friday, U.S. crude was trading around $46.52, while Brent hovered around $48.92. Politics continues to rumble on in the background, with investors keeping an eye on news coming out of Washington D.C., in relation to the state of U.S. health care and the Russia-linked scandal. Overseas, Europe was fluctuating between gains and losses during the morning session, while Asia-Pacific markets finished trade mostly lower. The Nikkei 225 slid 0.22 percent, or 44.84 points, to close at 20,099.75. South Korea's benchmark Kospi reversed earlier losses to close up 0.34 percent, or 8.22 points, at 2,450.06. Hong Kong's Hang Seng Index declined 0.16 percent by 3:02 p.m. HK/SIN, edging lower after nine consecutive days of gains. The Shanghai Composite slipped 0.21 percent, or 6.7066 points, to finish the session at 3,238.1581 and the Shenzhen Composite edged down 0.117 percent, or 2.1599 points, to close at 1,845.8141. Gold held steady on Friday near a three-week high and was on track for a second consecutive weekly gain, underpinned by a weaker dollar and U.S. political uncertainty. Spot gold rose 0.1 percent to $1,245.01 per ounce at 0401 GMT after touching a three-week high of $1,247.48 an ounce in the previous session. It is up about 1.4 percent for the week so far. U.S. gold futures for August delivery fell 0.1 percent to $1,244.70 per ounce. No major data is set to come out on Friday.