United States futures pointed to a muted open on Wall Street on Tuesday as investors digested a strong after-hours performance from Netflix and looked ahead to more big earnings.
BlackRock shares (BLK.N) fell 3.1% after the world's biggest asset manager's quarterly profit came in below expectations.
Wall Street closed mixed on Monday: The Dow Jones Industrial Average fell slightly by 0.04 per cent to close at 21,630, the S&P 500 lost 0.01 per cent to close at 2,459 and the NASDAQ gained 0.03 per cent to close at 6,314.
S&P 500 measures the performance of 500 widely held common stocks of large-cap USA companies.
On Friday, stocks in the USA reached new record highs, with the Dow closing 0.4% higher, while the S&P was up 0.5% and the tech heavy Nasdaq came up just short of a new record but increased 0.6% nonetheless. This news helped push down its stock 3.4 percent.
Health care was the worst performing sector. No market moving economic reports were released on Monday. Shares in the health care weakened in response to reports that the Republicans don't have the votes to back the new bill that would repeal and replace Obamacare. The insurance giant reported revenue of $50.05 billion, which matched the consensus estimate, and raised its full-year adjusted earnings forecast to a range of $9.75 to $9.90 per share.
Bank of America and Goldman Sachs report results early Tuesday, while IBM, Visa and General Electric will release results later in the week.
The focus this week could well be more on the US second-quarter earnings report. Earnings in the first quarter rose by approximately 15 percent. It measures the daily stock price movements of 30 large, publicly-owned US companies. Investors may even be willing to buy strength at current price levels since they don't seem to be too concerned the Fed will raise interest rates a third time in 2017.
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