Another batch of good earnings reports pushed stock index futures higher before the markets opened. Caterpillar Inc., 3M Co., UPS Inc., and A&T Inc. all topped earnings forecasts and raised their outlooks for future profit. Only Travelers reported a dip in earnings as bad weather led to more claims payments. Still to come are reports from American Express Co., Microsoft Corp. and Amazon.com Inc.
On the economic front, new claims for jobless benefits rose a little more than anticipated last week. The Labor Department said initial claims rose 37,000 to a seasonally adjusted 464,000. A reading on existing home sales from the National Association of Realtors is due after the markets open. Sales are expected to have fallen to a seasonally adjusted rate of 5.09 million units in June, down from 5.66 million in May. At the same time, the index of leading economic indicators will be released. Economists expect the index to have slipped 0.4% in June after rising 0.4% in May.
- Harrington Wealth Management
- Our firm provides comprehensive trust and investment management services by employing a customized asset allocation approach. By focusing on the individuality of each client, Harrington Wealth Management Company has helped high net worth individuals, families, and small institutions grow and sustain their wealth through proven investment practices since 1994. A fee-only advisor, we also offer other financial services from our offices in California, Kansas and Indiana that include custody, estates, land trusts, probate administration, guardianships, personal trust administration, retirement plan services, and investment consulting services.
