US Stock Futures Surge on Disney Earnings Beat
Stock futures in the US are poised to continue their August rally, buoyed by strong earnings from Disney. The Dow Industrial Average is indicating a triple-digit gain this morning, while S&P 500 and Nasdaq-100 futures also point to higher opens.
The ADP employment report released earlier showed only 44,000 private jobs added in July, falling short of expectations. However, the market seems unfazed by this news, instead focusing on Disney's impressive earnings.
Other notable movers include Advanced Micro Devices (AMD), which reported second-quarter earnings and revenue that topped forecasts but saw its third-quarter guidance come in line with estimates. Despite this, brokerages such as Wells Fargo have raised their price targets for the stock to $700.