Dow Jones futures fell modestly Tuesday morning, along with S&P 500 futures and Nasdaq futures. Crude oil futures traded below $70 a barrel as investors awaited President Donald Trump's decision on the Iran nuclear deal. Meanwhile, China internets JD.com (JD) and Autohome (ATHM) as well as China solar products firm Daqo New Energy (DQ) were moving on earnings. Zillow Group (Z) and LGI Homes (LGIH) are two other top stocks with earnings.
XComcast (CMCSA) is preparing a debt-financed all-cash bid for 21st Century Fox (FOXA), aiming to thwart a Walt Disney (DIS) deal to acquire Fox.
Japan's Takeda reached a $62 billion deal to acquire Shire Pharmacuticals (SHPG), which focuses on rare diseases, after months of talks and multiple offers. Shire, which has trended higher amid deal buzz, rose x%.
Dow Jones, S&P 500 Stymied At 50-Day
The Dow Jones and S&P 500 index have another chance to retake their 50-day moving averages. The Nasdaq composite, which moved back above its 50-day on Friday, led the stock market advance on Monday. The S&P 500 index and Dow Jones briefly scrapped above that key support line before settling for modest gains.
Dow Jones Futures Today
Dow Jones futures fell 0.2% vs. fair value. As for other stock market futures: S&P 500 futures retreated 0.3%. Nasdaq 100 futures sank 0.3%.
Crude Futures Below $70
Crude oil prices fell 1% to $69.99 a barrel. U.S. crude closed above $70 a barrel on Monday, but then sank in electronic trading as Trump tweeted that he'll make his Iran nuclear decision today. Crude futures and oil stocks have rallied in part in anticipation that Trump will exit the Iran deal, but investors took some profits with the actual announcement imminent.
JD.com
The Chinese e-commerce giant topped revenue forecasts early Tuesday, but JD.com missed earnings estimates.
Shares fell 3.8% early on the stock market today.
JD.com, the chief online sales rival to Alibaba (BABA). JD.com has a close alliance with messaging and gaming giant Tencent Holdings (TCEHY), which is its top shareholder.
Autohome
The Chinese auto information site reported better-than-expected Q1 earnings. Autohome also guided slightly higher on Q2 revenue. Autohome stock rose 1.1%.
Daqo New Energy
Daqo New Energy, an IBD 50 stock, earned $2.90 a share, beating views for $2.65. Revenue grew 23% to $103.3 million, topping forecasts for $97 million. China-based Daqo is in cyclical business of making polysilicon material used to make photovoltaic cells.
Daqo's stock rose 4% to 56.50 in the premarket. Daqo is in a double-bottom base with a 65.10 buy point.
Zillow Group
Zillow reported first-quarter earnings and revenue that slightly topped views. But the housing information site guided low on Q2 revenue.
Zillow stock fell 7% in the premarket after surging 5.8% on Monday to 55.91, approaching a 60.09 consolidation buy point. It shot up nearly 12% last week, reclaiming its 50-day line Monday.
LGI Homes
LGI Homes, like Daqo an IBD 50 stock, reported blowout 110% earnings growth early Tuesday, with 73% revenue growth. The homebuilder's stock was not yet active Tuesday.
On Monday, shares rose 3.5% to 75.80, just clearing a 75.62 cup-with-handle buy point in heavy volume.
Comcast, Walt Disney Are In Fox Hunt
Comcast is lining up financing for an all-cash bid for 21st Century Fox, which already has accepted an offer from Disney. Comcast already has bid $31 billion for U.K. satellite broadcaster Sky, which is 39% owned by Fox.
Fox stock jumped 2.7% in the premarket. Comcast stock lost 2%. Disney, which reports quarterly earnings late Tuesday, was little changed.
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The post Dow Jones Futures Fall: Trump's Iran Decision Due; These Top Stocks Move On Earnings appeared first on Investor's Business Daily.
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