Futures point to 12 point gain in the S&P 500
US stock futures are 0.3% higher as waves of earnings reports wash over the market. The S&P 500 fell 21 points yesterday and finished at the lows but has recouped about half of that in the pre-market.
Earnings are mixed and so is the pass-through on the economy. Starbucks sales were a bit better than anticipated, particularly in China. However GE warns that they're preparing for a prolonged period before a return to prior levels of activity.
Visa shares are lower on less cross-border spending (those FX fees are key for them) but the economic takeaway is that domestic sales are showing a sign of a plateau.
Looking further out, Boeing is slowing its planned production for the 737 Max on slower demand. That's a big hit to US trade and industrial production.
