U.S. Equity Index Futures Rise on Earnings; Ruble Gains By Jonathan Burgos and Shelley Smith Jul 30, 2014 U.S. equity index futures climbed as company earnings from Twitter Inc. (TWTR) to Amgen Inc. beat analyst estimates. Russian shares rose and the ruble strengthened as some investors judged U.S. and European Union sanctions milder than they anticipated. Copper fell. Standard & Poor’s 500 Index futures rose 0.2 percent at 10:08 a.m. in London, with Twitter shares surging 25 percent in early New York trading. The Stoxx Euro 600 Index dropped 0.1 percent. Russia’s Micex Index (INDEXCF) added 2.3 percent and the ruble gained against the dollar. Sweden’s krona dropped versus its 16 major peers after gross domestic product fell short of economist forecasts. Treasury 30-year yields were little changed near a one-year low. Copper retreated 0.4 percent. After about 78 percent of S&P 500 companies posted results this earnings season that beat analysts’ profit estimates, investors are focusing on unfolding events in Russia and the end of the Fed’s two-day monetary policy meeting. U.S. central officials are expected to reduce their stimulus program for the sixth time and debate the timeline for interest-rate increases. Sanctions against Russia were expanded yesterday to include three banks and a state-owned shipbuilder, after similar moves by the European Union. “The major risk factors for the market are geopolitics and the direction of U.S. interest rates,” Mark Matthews, Singapore-based head of Asia research for Bank Julius Baer & Co., which oversees about $377 billion, said by phone. “The market rally looks sustainable. The Fed will probably start raising rates in September 2015.”
Posted on: Wed, 30 Jul 2014 09:53:10 +0000
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