Another round of better-than-expected earnings released early yesterday drove the market to its highest point since last November. However, some of the earnings reported after yesterday’s close disappointed investors, putting some pressure on the two week rally. As of this writing, U.S. stock futures were mixed, pointing to a flat start.
The earnings calendar is much lighter than yesterday. Among the reports we will get this morning are Black & Decker, Exelon, Fortune Brands, and T. Rowe Price. As is usually the case on Friday’s, there are no after-the-bell earnings reports of note.
There is only one economic report due this morning. At 9:55 am ET the University of Michigan issues its consumer sentiment index for July, with economists looking for a reading of 65, compared to the final June reading of 70.8.
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