U.S. equity futures traded lower Thursday morning, following an earnings-powered trading session on Wednesday.
Oil prices traded choppy on Thursday after U.S. data signaled weak fuel demand.
West Texas Intermediate (WTI) crude futures traded around $90.00 a barrel. Brent crude futures traded at $96.00 a barrel.
Clorox shares fell 6% in after-hours trading as quarterly revenue and profit missed Wall Street expectations. Fiscal fourth-quarter sales were flat at $1.8 billion, missing the estimate for $1.86 billion. Organic sales did grow 1%.
Ebay shares moved higher in after-hours trading. The online marketplace topped Wall Street revenue estimates. Second quarter revenue fell 9% to $2.4 billion, but was still higher than the analysts’ estimate of $2.37 billion. The company is forecasting negative third quarter and full year organic growth.
Another busy day ahead for 2Q earnings season. Morning results include Cigna, Paramount Global, ConocoPhillips and Eli Lilly. Afternoon highlights will include Warner Brothers Discovery, Live Nation, and Expedia.
The economic calendar will focus on jobless claims and the U.S. trade deficit.
In Asia, Japan’s benchmark Nikkei 225 added 0.7%, Hong Kong’s Hang Seng rose 2.1% and China’s Shanghai Composite climbed 0.8%.
On Wall Street, the S&P 500 rose to 4,155.17, an almost 2-month high. The Nasdaq gained 2.6% to 12,668.16. The Dow Jones Industrial Average rose 1.3% to 32,812.50.
The yield on the 10-year Treasury was at 2.72% on Thursday.