Young Journalists Club | Latest news of Iran and world

News ID: 27075
Publish Date: 16:34 - 07 August 2018
TEHRAN, August 7 - U.S. stock index futures rose on Tuesday as strong corporate earnings lifted sentiment and higher oil prices helped energy shares.

Futures lifted by higher oil prices, earningsTEHRAN, Young Journalists Club (YJC) - U.S. stock index futures rose on Tuesday as strong corporate earnings lifted sentiment and higher oil prices helped energy shares. 

Oil prices rose on expectations of tighter global supplies due to revived U.S. sanctions against major crude exporter Iran. [O/R]

Schlumberger (SLB.N) gained 1.2 percent, Exxon (XOM.N) 0.8 percent and Chevron (CVX.N) 0.2 percent in premarket trading.

“The indices are poised to open on a higher note as corporate earnings, higher oil prices and less focus on the trade rhetoric lift investor spirits,” Peter Cardillo, chief market economist at First Standard Financial in New York, wrote in a note.

Technology shares were among the most traded, while a rebound in the Shanghai stock market [.SS] helped drive gains in U.S.-listed shares of Chinese companies.

E-commerce giant Alibaba (BABA.N) gained 1.1 percent after sources told Reuters that it planned to merge its food delivery units and raise funds for the combined business. JD.com (JD.O) was up 0.8 percent.

The S&P 500 .SPX edged closer to a record it hit on Jan. 26 on Monday, closing within a percentage point of the all-time high for the first time since the current correction began.

The CBOE Volatility Index .VIX, the most widely followed barometer of expected near-term gyrations for the S&P 500, dropped to 10.52 points, level not seen since the early February selloff.

Source: Reuters

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