U.S. Stock Futures Rise Ahead of Q2 GDP Report

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By Trey Thoelcke Published
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U.S. stocks are poised to open higher as investors await the first reading on second-quarter U.S. GDP, and after encouraging remarks from Europe’s central bank about supporting the euro.

Economists predict the U.S. economy grew at a 1.4% annual pace, down from 1.9% in the first quarter. The University of Michigan will release its Consumer Sentiment Index for July, which is expected to be unchanged from last month.

This morning, Chevron Corp. (NYSE: CVX) is expected to post earnings per share of $3.27 on revenue of $60.4 billion. Merck & Co. (NYSE: MRK) reported better-than-expected net income and revenue.

Facebook Inc. (NASDAQ: FB) and Starbucks Corp. (NASDAQ: SBUX) shares are down sharply in premarket trading.

Some 72% of the 271 S&P 500 companies that have reported second-quarter results topped analysts’ estimates, according to Bloomberg.

Global stocks rallied and the euro rose by the most in almost a month against the dollar after European Central Bank President Mario Draghi suggested policy makers might intervene in bond markets as yields surge in Spain and Italy. Germany’s Bundesbank remains opposed to additional bond purchases by the ECB.

Britain’s FTSE 100 has risen 0.2% and the DAX in Germany is up 0.3%. France’s CAC 40 is 1.3% higher.

The Shanghai Composite inched up 0.1% at the close, while the Hang Seng in Hong Kong gained 2% and Japan’s Nikkei ended 1.5% higher.

Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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