Comey Firing Have Investors Thinking Politics
Video: Preview the day’s action on Wall Street before the opening bell with the Morning Report as Comey Firing Have Investors Thinking Politics. Dow, Nasdaq and S&P futures are lower on the morning. Crude is up 1% as inventories fall more than expected.
Futures point to lower open after late-day Tuesday slide
Here are some Morning Headlines:
U.S. stock futures were under pressure and so was the dollar this morning after President Donald Trump’s abrupt firing of FBI Director James Comey last night raised concerns over whether it may create a distraction and delay the White House’s economic agenda in Congress. (CNBC)
Futures were also pressured by the premarket drop in Dow stock Disney (DIS). The media and theme park giant late Tuesday reported quarterly earnings that beat estimates. But revenue missed, while concern persisted about higher programming costs at ESPN. (CNBC)
Justice Department officials said Trump’s dismissal of Comey, whose agency was conducting an investigation over Russia, was over the mishandling of the Hillary Clinton email investigation. The administration said the FBI’s Russia probe was not a factor in the Comey dismissal. (CNBC)
Here is this week’s earnings calendar provided by Earnings Whispers as Comey Firing Have Investors Thinking Politics.
The following are brief summaries of the companies reporting earnings this morning and from yesterday. Social media player Snap reports earnings after the bell today.
Walt Disney — Disney reported quarterly profit of $1.50 per share, compared to consensus estimates of $1.41 a share. Revenue fell below forecasts, however, and investors continue to be concerned about higher programming costs at ESPN. (CNBC)
Priceline Group — Priceline reported adjusted profit of $9.88 per share for its latest quarter, beating estimates of $8.89 a share. Revenue for the online travel company was very slightly below forecasts. The Street is also focusing on weaker-than-expected current-quarter earnings guidance. (CNBC)
Nvidia — Nvidia reported quarterly profit of 79 cents per share, 13 cents a share above estimates. The graphics chipmaker’s revenue was above forecasts, as well. Nvidia saw strong demand for its flagship chip products, and also benefited from its diversification into the artificial intelligence and autonomous driving markets. (CNBC)
Information Credit: News headlines and quotes were taken from CNBC in the writing of this post. Photo Credit: DailyHeadlines.net