Futures Hold Modest Gains Despite Durable Goods Surge

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Futures remain in positive territory with conservative gains, but drifted slightly lower following the release of July durable goods orders. Although overall orders surged a record high 22.6%, excluding a 318% increase in orders for commercial aircraft from Boeing, orders actually fell 0.8%, missing estimates for a modest 0.4% gain.

Into the open, Wall Street is cautious into a very heavy economic calendar as well as the challenge of pushing the S&P 500 back through 2000 without a definitive catalyst. Earnings have been mixed with Best Buy ( BBY ) reporting upbeat profits but a soft outlook, DSW ( DSW ) beating earnings and sales estimates, but Trina Solar ( TSL ) missing revenue estimates.

The remaining data includes the FHFA house price index for June (+0.4% vs +0.3% estimates), the June Case Shiller house price index (seasonally adjusted +1.0% from -0.3% prior), August consumer confidence (exp 89.5 from 90.9) and the August Richmond Fed manufacturing index (exp 8.0 from 9.0 in July).

-Dow Jones Industrial up 0.12%

-S&P 500 futures up 0.9%

-Nasdaq 100 futures up 0.17%

SENTIMENT

Nikkei down 0.59%

Hang Seng down 0.37%

Shanghai Composite down 0.99%

FTSE-100 up 0.41%

DAX-30 up 0.26%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+/-) Chip stocks: mixed

(+) Software stocks: higher

(+/-) Hardware stocks: mixed

(+) Internet stocks: higher

(+) Drug stocks: higher

(+) Financial stocks: higher

(+) Retail stocks: higher

(+) Industrial stocks: higher

(+) Airlines: higher

(+) Autos higher

UPSIDE MOVERS:

(+) THI, THI.TO (+9.74%) Burger King ( BKW ) confirms plan to acquire company

(+) KITE (+23.3%) Reports positive results from clinical trial evaluating KTE-C19 as treatment for aggressive non-Hodgkin's

(+) DSW (+11.74%) Reported higher-than-Q2 expected profit and sales

DOWNSIDE MOVERS:

(-) TSL (-5.98%) Q2 sales miss estimates but earnings meet expectations

(-) SAFM (-5.39%) Missed sales and earnings estimates

(-) DRL (-21.05%) Fails to settle dispute with Puerto Rico Treasury Department



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: BBY , DSW , TSL , BKW

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