Comtex SmarTrend Opening Bell Comments -- August 2, 2010 (DJI,INX,IXIC)

U.S. stock futures are trading higher Monday ahead of manufacturing data and comments from the Federal Reserve on the economy. The ISM manufacturing gauge for July will be released at 10 AM ET. Economists expect that the index fell to 54.1 in July, from 56.2 in June. Federal Reserve Chairman Ben Bernanke will start speaking about the economy shortly after. Treasury Secretary Timothy Geithner is also scheduled to speak at New York University on the next steps for financial reform. In corporate news, Humana (NYSE:HUM) reported Q2 EPS of $2.11, topping consensus estimates of $1.67 per share. Revenues for the quarter rose 9.69% year-over-year to $8.65 billion, ahead of consensus estimates of $8.61 billion. Loews Corp. (NYSE:L) reported Q2 EPS of $0.87, ahead of consensus estimates of $0.82 per share. Revenues for the quarter fell 1.36% year-over-year to $3.49 billion, missing consensus estimates of $3.62 billion. The Dow Jones Industrial Average (DJI) futures are trading 103.00 points above fair value, the S&P500 (INX) futures are trading 12.39 points above fair value, and the Nasdaq Composite (IXIC) futures are trading 18.75 points above fair value.

Category:

News & Politics

Tags:

• dji
• inx
• ixic
• federal
• reserve
• economy
• ism
• manufacturing
• economists
• ben
• bernake
• treasury
• secretary
• timothy
• geithener
• hum
• humana
• loews
• stock
• market
• news
• smartrend