US pre-open: Stocks seen flat ahead of more earnings and data

US futures pointed to a broadly flat open on Wall Street as investors awaited further earnings and data releases.

At 1130 BST, Dow Jones Industrial Average and S&P 500 futures were down 0.1%, while Nasdaq futures were unchanged.

CMC Markets’ Jasper Lawler said: “US stocks look set to open relatively unchanged after poorly-received results from Intel after hours as the Dow Jones aims for its 10th daily rise. Intel beat earnings expectations but slower revenue growth at its faster data centre business caught investors by surprise.”

In Europe, meanwhile, the main indices were in the red as investors eyed the latest rate announcement from the European Central Bank. No changes are expected, with the deposit rate seen on hold at -0.4% and the main interest rate at 0.00%.

At the same time, oil prices were in the black. West Texas Intermediate was up 0.7% at $44.94 a barrel and Brent crude was 0.1% higher at $47.22.

In corporate news, Intel shares slumped in pre-market trade. Although the company’s second-quarter earnings beat estimates, revenues were a little light.

On the upside, Joy Global rocketed in pre-market trade after Japan’s Komatsu said it had agreed to purchase the mining gear maker for $2.89bn.

Elsewhere, Tesla Motors and SolarCity Corp were both on the front foot after Elon Musk outlined a plan for the combination of the two companies.

Dunkin’ Brands was in focus after it said quarterly sales were up 2.3% amid improved demand for its flavoured iced coffee.

Dish Network nudged higher in pre-market trade after the company’s second-quarter earnings came in ahead of analysts’ expectations.

Results are still due from Southwest Airlines, Domino’s Pizza and General Motors.

On the data front, initial jobless claims are at 1330 BST along with the Philadelphia Fed survey, while existing home sales and leading indicators are at 1500 BST.

Results are due after the closing bell from Chipotle Mexican Grill, Starbucks and Visa.