July 22 Premarket Briefing: 10 Things You Should Know
Here are 10 things you should know for Tuesday, July 22:
1. -- U.S. stock futures were rising Tuesday ahead of data on inflation and housing and a bevy of corporate earnings reports.
European stocks rebounded, as EU foreign ministers gathered in Brussels to discuss whether to increase sanctions against Russia and as investors took heart from bullish corporate earnings. Asian indices also rose.
2. -- The economic calendar in the U.S. on Tuesday includes the Consumer Price Index for June at 8:30 a.m. EDT, the FHFA Housing Price Index for May at 8:30 a.m., and existing home sales for June at 10 a.m.
3. -- U.S. stocks on Monday closed lower but recovered from deep losses suffered over the morning session, a product of geopolitical tensions in Ukraine and the Gaza Strip.
The Dow Jones Industrial Average fell 0.28% to 17,051. The S&P 500 declined 0.23% to 1,973.63. The Nasdaq slipped 0.17% to 4,424.7.TheStreet's Jon Marino has Tuesday's Global Markets Report:
4. -- Apple
Investors will be watching Apple to see whether iPhone sales remain strong ahead of what could be Apple's biggest product ever, a larger iPhone coming in the fall.
The Wall Street Journal , citing people familiar with the matter, reported that Apple is asking suppliers to manufacture between 70 million and 80 million units combined of two large-screen iPhones with 4.7-inch and 5.5-inch displays by Dec. 30.
Apple shipped shipped 43.7 million iPhones in the second quarter ended March 30. The tech giant earned $11.62 a share in the quarter on sales of $45.6 billion.
5. -- Netflix
The gains include an additional 570,000 U.S. subscribers, slightly more than the company predicted. The quarter is typically the company's slowest of the year, as people spend more time outdoors instead of watching video.
The second quarter featured Netflix's "Orange Is The New Black," which returned for its second season in early June. As with the company's other original series, all 13 episodes of "Orange Is The New Black," were released simultaneously so subscribers could watch the story when they wanted.
Netflix posted a second-quarter profit of $1.15 a share, a penny above analysts' expectations. Revenue rose 25% to $1.3 billion, matching estimates.
6. -- Microsoft
The company reported earnings of 68 cents a share on revenue of $20.4 billion in the third quarter.