U.S. stock futures were running positive Monday morning as investors ponder whether equities markets can continue their march into record territory.
Overseas, Chinese stocks continue to run higher on the belief that the People's Bank of China will continue its monetary easing. Meanwhile, Europe continues to watch negotiations between Greece, the International Monetary Fund and the European Union regarding Greece's outstanding sovereign debt.
Applied Materials (AMAT) said it is abandoning its proposed takeover of Tokyo Electron after the companies could not satisfy regulators' fears regarding antitrust concerns. AMAT shares were down sharply in premarket trading.
Notable earnings today include Apple (AAPL), Roper Industries (ROP), Allison Transmission (ALSN), Barracuda Networks (CUDA), and The Container Store (TCS).
Today's domestic economic calendar includes Markit's services PMI at 9:45 a.m. ET, with a 59.5 reading expected, and Markit's preliminary April U.S. composite PMI, also at 9:45 a.m. At 10:30, we'll get the Dallas Fed's manufacturing survey, with consensus looking for -12.0.
Buckle up for another heavy week of earnings reports.
Happy trading!
Bryan Ashenberg is the portfolio manager for Growth Seeker and the fundamental analyst for Trifecta Stocks. Test drive with a free trial.
