Trish: All Eyes on Earnings — And, They Better Be Good…

U.S. futures were mixed ahead of the U.S. market open as investors prepared for the release of second-quarter earnings results.

Investors hope to determine whether the profitability of some major companies can support their inflated valuations. If profits don’t rise enough, it’s possible some stock valuations get a rude awakening. If they rise well or even more than expected, then investors will be proven correct in their aggressive valuations and stock prices should move even higher.

Equity Markets

  • S&P 500 futures: 4,348.75, -0.26%
  • Nasdaq futures: 14,838.50, +0.19%
  • DOW futures: 34,592.00, -0.46%

U.S. Dollar and Treasuries

U.S. Treasury yields declined. The dollar strengthened against a basket of other currencies.

  • U.S. Dollar Index (DXY): 92.33, +0.22%
  • 10-year Treasury yield: 1.356%
  • 2-year Treasury yield: 0.230%

Stocks To Watch

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After jumping almost 50% in Friday’s trading, Tempest Therapeutics more than doubled in premarket trading. Investors are expecting a major announcement on the company’s July 14. webcast “Developing Therapies for the Next Immuno-Oncology Targets.” The company reached its highest value since the merger with Millendo Therapeutics last month. The company specializes in innovative targeted cancer therapies. (Story continues below video.)

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SGOCO Group extended its gains in premarket trading after catapulting more than 270% during Friday’s regular trading hours. There was no company-related news that could trigger the move. Retail investors often target penny stocks with small floats. The company is a phase-change energy storage system manufacturer.

Stocks of Celldex Therapeutics rose after an investment bank HC Wainwright & Co. increased its price target for the company to $50. On Friday, the company announced new results from its Phase 1b trial of CDX-0159 on patients with chronic inducible urticaria, or chronic hives.

  • TPST Tempest Therapeutics, $38.00, +142.50%, 1.20M (volume)
  • SGOC SGOCO Group Ltd $13.470, +37.59%, 2.45M (volume)
  • CLDX Celldex Therapeutics $46.00, +41.93%, 212.26K (volume)

Commodities To Watch

Oil declined after reporting a weekly loss on OPEC+ dispute over production quotas. Gold declined, holding just above the key $1800 level.

  • WTI crude: $73.28, -1.72%
  • Brent crude: $74.33, -1.61%
  • Gold: $1,800.60, -0.55%

Crypto

The global crypto market cap increased by 0.06% in the last 24 hours.

  • BTC: $33,745.24, -0.15%
  • ETH: $2,113.34, -0.53%
  • ADA: $1.35, +0.56%
  • DOGE: $0.2129, -0.29%

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Trish Reganhttps://trishintel.com
Trish Regan is an award winning financial journalist, an American television talk show host and author who interprets political events through an economic lens.

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