US stock future indexes are fractionally lower (SPY -0.1%) and are pointing to a flat opening with a schedule full of second quarter earnings reports and macro data. Global stocks traded mostly down as investors were showing mixed reactions to earnings reports out after yesterday's close.
Here is the current market situation from CNN Money
European markets are lower today with shares in London off the most. The FTSE 100 is down 0.46% while Germany's DAX is off 0.31% and France's CAC 40 is lower by 0.28%.
The reporting season continued was set to continue in full swing on Thursday.
After the close, Starbucks (NASDAQ:SBUX), AT&T (NYSE:T), Chipotle Mexican Grill Inc (NYSE:CMG), Visa Inc (NYSE:V), PayPal Holdings Inc (NASDAQ:PYPL), Capital One Financial Corporation (NYSE:COF), Schlumberger NV (NYSE:SLB) and Boston Beer Company Inc (NYSE:SAM) report.
DETROIT (Reuters) - General Motors Co on Thursday raised its forecast for full-year profits after reporting a record second-quarter profit that handily beat Wall Street expectations, sending shares up 4.6 per cent.
(Reuters) - Tesla Motors Inc chief Elon Musk's ambitious new "master plan" provided a vision of the company as a leader in sustainable energy, but lacked details on how the plan would be funded and executed.
NEW YORK (Reuters) - Blackstone Group LP , the world's largest alternative asset manager, reported higher-than-expected economic net income of 44 cents per share for the second quarter, helped by strong real estate investments and a rebound in energy prices.
KUALA LUMPUR (Reuters) - Malaysian Prime Minister Najib Razak said on Thursday judgment should be withheld until all the facts are known after the U.S. government filed lawsuits seeking to seize $1 billion in assets bought with money stolen from a state fund he oversaw.
(Reuters) - Confidence in prospects for the global economy has been dented following Britain's vote to leave the European Union, with a growing view that monetary policy is a fading force and many governments now need to borrow and spend, Reuters polls showed.
(Reuters) - Domino's Pizza Inc reported better-than-expected quarterly sales on Thursday, helped by increased revenue from the services and products it provides to franchisees and the addition of stores in markets outside the United States.
While sovereign and corporate bond markets might suggest 'all is well', the collapse of European consumer confidence indicates "whatever it takes" has failed and while Mario Draghi kept rates unchanged and maintained his global QE buying program, we suspect the need to offer another banal bone of hope for an artificial market running on fumes will overhwhelm any rational thought left in the former Goldman banker's mind.
As widely expected from the formulaic statement issued by the ECB ahead of Draghi's press conference, the central bank announced moments ago that it kept all three of its interest rates unchanged as follows:
ECB keeps main refinancing rate unchanged at 0.00%.
Leaves deposit facility rate unchanged at -0.40%
Keeps marginal lending rate unchanged at 0.25%
The ECB's full statement also confirms that "the monthly asset purchases of 80 billion are intended to run until the end of March 2017 or beyond if necessary and in any case until it sees a sustained adjustment in the path of inflation consistent with its inflation aim"
At today's meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively. The Governing Council continues to expect the key ECB interest rates to remain at present or lower levels for an extended period of time, and well past the horizon of the net asset purchases.
Regarding non-standard monetary policy measures, the Governing Council confirms that the monthly asset purchases of 80 billion are intended to run until the end of March 2017, or beyond, if necessary, and in any case until it sees a sustained adjustment in the path of inflation consistent with its inflation aim.
The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 14:30 CET today.
Now attention turns to Draghi in 45 minutes where his press conference is expected to give some additional color on how the central bank will address the issu ...
The number of Americans who applied for unemployment benefits last week fell by 1,000 to 253,000, matching the second lowest level of a seven-year-old economic expansion that shows no signs of flagging.
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