Russell 2000 expected higher
The Russell 2000 futures have moved into positive territory and the small-cap index (NYSE: IWM) is likely to rise on upbeat earnings news.
Shares of online retailer Amazon.com, Inc. (Nasdaq: AMZN), are continuing their climb after an announcement shortly before the close on Tuesday that second-quarter profit more than tripled due to higher electronics sales. Looking ahead, the Seattle-based company said that it expects third quarter net sales in a range of $3.0 billion to $3.18 billion. Twenty analysts polled by Thomson Financial projected revenue of $3.01 billion.
Feeding the bullish pre-market mood is aerospace giant Boeing Co. (NYSE: BA), which soared to a second-quarter profit of $1.1 billion, compared with a loss a year earlier. The Chicago-based company reported earnings of $1.35 per share for the three months ended June 30, above the expected $1.16.
Later today investors will be paying attention to the data on June existing homes sales, which the National Association of Retailers will release at 10 a.m. ET. Economists are calling for sales to have fallen to an annual rate of 5.87 million units from 5.99 million in May, signaling a further deterioration of the housing market.
