U.S. stock futures declined on Friday, July 21, following earnings and sales from General Electric Co. (GE) that topped analysts' forecasts. GE reported an adjusted 28 cents a share in the second quarter, 3 cents above estimates, while sales of $29.56 billion also topped forecasts. The stock rose 1.8% in premarket trading.
Honeywell International Inc. ( HON) reported second-quarter earnings of $1.80 a share, 2 cents ahead of estimates. The company also raised its sales guidance for the year. Earnings are also expected Friday from Colgate-Palmolive Co. ( CL) and Schlumberger Ltd. ( SLB) .
The economic calendar in the U.S. on Friday includes the weekly Baker Hughes Rig Count at 1 p.m. ET.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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