U.S. stock futures pulled back early Thursday, with investors focused on earnings results and sharp losses in Asia shares overnight.
Futures on the Dow Jones Industrial Average pointed to a loss of about 200 points at the open. S&P 500 futures and Nasdaq 100 futures also indicated a negative open.
The moves came following a major sell-off in mainland Chinese stocks, which saw the Shanghai composite down more than 4% on the day. That came despite China reporting that the country™s GDP grew 3.2% in the second quarter of the year as compared to a year ago ” above expectations of a 2.5% growth by economics in a Reuters poll.
Investors are also watching for corporate earnings reports, including Bank of America and Morgan Stanley. Johnson & Johnson, Charles Schwab, Abbott Labs and Domino™s Pizza will also report before the market opens on Thursday, while investors will be watching for Netflix™s second-quarter earnings report after-the-bell.
Source : CNBC
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