July 18, 2013 / 11:21 AM / 4 years ago

US STOCKS-Futures mixed as earnings, Bernanke in view

2 Min Read

* EBay, Intel fall after disappointing guidance

* Investors await second day of Bernanke testimony

* Futures: Dow off 8 pts, S&P up 1 pt, Nasdaq off 0.5 pts

NEW YORK, July 18 (Reuters) - U.S. stock index futures were mixed as investors took in the latest batch of corporate earnings and awaited a second day of congressional testimony by Federal Reserve Chairman Ben Bernanke.

* Shares of eBay slumped 6.4 percent to $53.72 in premarket trading after it warned of economic headwinds in the second half of the year and that full-year results would be at the low end of the company's forecast range.

* Intel tumbled 3.3 percent to $23.35 after the company cut its full-year revenue forecast and said it was pulling back capital spending.

* Major companies reporting results on Thursday include Morgan Stanley, Google and Microsoft.

* Speaking before Congress on Wednesday, Bernanke stressed the timeline for winding down the Fed's stimulus program was not set in stone, helping stocks on Wall Street end modestly higher.

* Bernanke said the central bank still expects to start scaling back its bond purchases later this year, but he left open the option of changing that plan if the economic outlook shifts.

* Bernanke will appear for a second day of testimony before the Senate Banking Committee on Thursday.

* S&P 500 futures rose 1 point and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 8 points, and Nasdaq 100 futures slipped 0.5 points.

* Economic data on tap includes weekly initial jobless claims, manufacturing activity in the mid-Atlantic region for July, and leading economic indicators for June.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below