Quantcast

REFILE-US STOCKS-Microsoft brightens Wall St mood as rate cut hopes rise


Shutterstock photo


(Corrects typo in second graph)

* Futures up: Dow 0.13%, S&P 0.03%, Nasdaq 0.12%

By Medha Singh

Microsoft CorpMSFT.O , now America's most valuablecompany, gained 3.5% premarket, after it topped analysts'estimates at the end of a week of mixed corporate results in theUnited States and Europe. urn:newsml:reuters.com:*:nL4N24J47I

Williams' comments that the Fed cannot wait for economicdisaster to unfold on Thursday afternoon were behind theprevious session's positive close and they helped drive a raftof market moves on Friday. urn:newsml:reuters.com:*:nL2N24J16B

Traders raised bets for a larger, half-percentage point cutin rates at the July 30-31 policy meeting to 46%, from a 23%chance a week ago, according to CME Group's FedWatch program.

At 6:54 a.m. ET, Dow e-minis 1YMcv1 were up 36 points, or0.13%. S&P 500 e-minis EScv1 were up 1 point, or 0.03% andNasdaq 100 e-minis NQcv1 were up 9.5 points, or 0.12%.

The main indexes have eased off all-time highs hit at thestart of this week as some of the first batches of secondquarter earnings releases pointed to a slowdown in growth underthe shadow of U.S.-China trade talks.

Boeing CoBA.N rose 1.7% after disclosing it would take a$4.9 billion after-tax hit in the second quarter on estimateddisruptions from the grounding of its 737 MAX passenger jets. urn:newsml:reuters.com:*:nL2N24J1OR

Morgan Stanley analyst Rajeev Lalwani said that was a signthat investors were comfortable with the size of the charge andBoeing's production plans ahead of its results next week.

Shares of the world's largest oilfield services providerSchlumberger NV SLB.N also rose 1% as it announcedbetter-than-expected revenue numbers and named company insiderOlivier Le Peuch as new Chief Executive Officer. urn:newsml:reuters.com:*:nL4N24K2JA

American Express CoAXP.N had gained 1.2% ahead of its ownresults release. (Reporting by Medha Singh in Bengaluru; editing by PatrickGraham) ((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780,outside U.S. +91 80 6749 1130; Twitter: https://twitter.com/medhasinghs; Reuters Messaging: medha.singh.thomsonreuters.com@reuters.net))






This article appears in: Stocks , World Markets , Politics
Referenced Symbols: AXP ,



More from Reuters

Subscribe







See Reuters News













Research Brokers before you trade

Want to trade FX?