U.S. stock futures rise ahead of Trump-Putin summit


Amazon is the stock of the decade: Charles Payne

FBN’s Charles Payne on what sectors rallied despite trade concerns and how Amazon surged to a new high.

Stock futures are rising,  indicating a possible third straight day of gains as President Trump and Russian President Putin meet in Helsinki, Finland.

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Dow Jones futures were rising by 0.21%. The SP 500 added 0.12% and the Nasdaq Composite was up 0.21%.

The latest indictments of Russian intelligence officers in Robert Mueller’s probe into Russian meddling in the 2016 election will put extra tension on this meeting between the two most powerful leaders in the world.

Asian shares were lower on Monday after data from China showed the world’s second-largest economy slowed slightly in the second quarter, and as investors remain cautious over the impact of the heated Sino-U.S. trade war.

China’s economy grew 6.7 percent in the second quarter of 2018, in line with market expectations, and cooling a bit from the 6.8 percent growth registered in each of the previous three quarters.

Shanghai Composite closed own 0.6%. Hong Kong’s Hang Seng finished the day little changed.

Japan’s markets were closed for a holiday.

In Europe, London’s FTSE is little changed, Germany’s DAX is up 0.10% and France’s CAC is 0.46% higher.

U.S. stocks wrapped a winning week on Friday with the Dow Jones Industrial Average closing above the psychologically significant 25,000-point milestone, a one-month high. The SP 500, the broadest measure of stocks, reached a 5-month high and the Nasdaq Composite even better, sitting at a record. A string of new records for some big tech names helped drive the momentum as  Amazon, Microsoft, Facebook and Google each hit all-time highs Friday.

Earnings season for the banks  started on Friday.

JPMorgan Chase’s second-quarter earnings and revenue topped analysts’ expectations, Citigroup beat on earnings but missed on revenue while Wells Fargo missed on both earnings and revenue.

Bank earnings continue on Monday with results from Bank of America before the bell. After the bell results will be released from Netflix.

On the economic front, reports are due on retail sales and empire manufacturing.

FOX Business’ Leia Klingel contributed to this article.