Stock Futures Pointing Higher as U.S. Inflation Eases

Stock futures are pointing higher on Thursday, indicating that Wall Street may continue to see gains from the previous session. The optimism comes after data revealed that U.S. inflation eased to 3% in June, marking its slowest pace in over two years. The S&P 500 closed on Wednesday at its highest level since April 2022.

Key Stocks to Watch

Here are some stocks to keep an eye on today:

  1. Delta Air Lines (DAL): Shares of Delta Air Lines are up 1.8% ahead of the release of the carrier’s second-quarter earnings report. Analysts are anticipating earnings of $2.40 per share on sales of $14.4 billion.

  2. PepsiCo (PEP): PepsiCo is scheduled to report its second-quarter earnings before the stock market opens today. Analysts are expecting a profit of $1.96 per share, up from $1.86 a year earlier. Revenue is also expected to rise to $21.7 billion, compared to $20.2 billion in the second quarter of 2022. The stock has risen by 0.5% in premarket trading.

  3. Cintas (CTAS), Progressive (PGR), Fastenal (FAST), and Conagra Brands (CAG): These companies are also expected to release their earnings reports today.

  4. Microsoft (MSFT) and Activision Blizzard (ATVI): The Federal Trade Commission has announced its intention to appeal a judge’s ruling that cleared Microsoft to proceed with its $69 billion acquisition of Activision Blizzard. Microsoft shares rose 0.6% in premarket trading, while Activision declined by 0.3%.

  5. Walt Disney (DIS): Walt Disney saw a 1.1% increase in premarket trading following the announcement that CEO Bob Iger’s contract has been extended through December 2026. Iger returned to Disney in November after Bob Chapek’s departure last fall.

  6. ViaSat (VSAT): ViaSat shares are tumbling by 20% after the company revealed an “unexpected event” that occurred during reflector deployment, which could have a significant impact on the performance of its ViaSat-3 Americas satellite, a crucial provider of broadband connectivity. The company is currently working with the reflector manufacturer to resolve the situation.

  7. MillerKnoll (MLKN): MillerKnoll shares are falling by 5% in premarket trading after the furniture maker issued guidance for the fiscal first quarter and year that fell below analysts’ estimates.

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