Financial shares are higher in today's pre-market session after
investors found comfort in data showing that the Chinese
manufacturing sector is growing. Investors are also awaiting U.S.
weekly jobless claims information today. China's official
manufacturing Purchasing Managers' Index surprisingly rose to 50.3
in July from 50.1 in June.
Investors yesterday welcomed positive growth numbers in the U.S.
GDP, although they are still uncertain about the Fed's next move in
scaling back quantitative easing.
In financial stocks news, CME Group (
) reports Q2 EPS of $0.93 on revenue of $816 million, versus the
analyst consensus on Cap IQ of $0.90 per share in earnings on $806
million in revenue.
And, late yesterday, The Allstate Corp. (
) reported Q2 adjusted EPS of $1.12 per share, vs. analyst
estimates of $0.98 per share, and higher compared to $0.87 per
share in Q2 2012.
Revenues of $8.7 billion handily beat analyst estimates of $6.8
billion, and were higher compared to revenues of $8.2 million the
year prior. Shares are up 1.6% at $51.80 in pre-market, near the
stock's 52-week high of $52.45.