July 29 Premarket Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, July 29:
1. -- U.S. stock futures were up Tuesday across the indices, as investors geared up for a major earnings day and applauded Monday's news of mergers like that of Zillow
European stocks were slipping Tuesday, as investors looked for safety from the conflict in Ukraine and sanctions against Russia.
2. -- The economic calendar in the U.S. on Tuesday includes earnings reports from 346 companies, Marriott
3. -- U.S. stocks on Monday were mixed, on news of Dollar Tree
The Dow Jones Industrial Average
4. -- Inversion, the newly popular practice in which U.S. companies buy foreign competitors in order to reincorporate offshore and save on taxes, is in the headlines again. Yesterday U.S. injectable drug maker Hospira
Jamie Dimon of JPMorgan Chase
5. -- U.K. oil company BP
BP reported a rise in second-quarter profit of 34%, with earnings of $3.6 billion -- up from $2.7 billion a year ago. The earnings beat estimates. BP did warn, though, that its production will likely be less in the third quarter due to maintenance.
6. -- The European Union will impose $50 billion in fines on Russia for its takeover of oil company Yukos, which a court in the Hague ruled to be illegal on Monday. However, the fine may be difficult to collect.