07 08 US PRE OPEN

US Futures consolidate - Watch UBER, GS, TMUS, DBX, DISH

The S&P 500 Futures are under pressure after they charged higher yesterday, as tech stocks help to push the Nasdaq 100 Index (+141 points or 1.24%) to a fresh record close of 11267.

Later today, the U.S. Labor Department will release the closely-watched official July Jobs Report (an addition of 1.48 million non-farm payrolls, a drop in jobless rate to 10.6% expected).

European indices are facing a consolidation. June Industrial Production data were released for Germany at +8.9% (vs +8.2% on month expected) and for France at +12.7% (+8.4% on month expected). German June Balance of Trade was released at 15.6 billion euros, higher than 11.3 billion euro expected.

Asian indices closed in the red. China recorded a trade surplus of 62.33 billion dollars in July (vs a surplus of 42.6 billion dollars expected) with exports growing 7.2% on year (vs -0.6% expected).

WTI Crude Oil futures are under pressure. Saudi Arabia cut the September oil prices to Asia and Europe, the first time in four months. Later today, Baker Hughes will report the oil rig counts for the U.S. and Canada.

Gold eased after hitting a new record high, on track for a ninth weekly gain, on COVID-19 expansion fears.

Gold fell 4.24 dollars (-0.21%) to 2059.31.

The US dollar steadies before jobs data. The dollar index rose 0.38pt to 93.172.

U.S. Equity Snapshot

Uber (UBER), the ride sharing company, posted a second quarter LPS of 1.02 dollar, wider than expected, compared to a LPS of 4.72 dollars last year. Gross bookings declined 35% to 10.2 billion dollars, however delivery bookings grew 106% to 6.96 billion dollars, above estimates.

Source: TradingView, Gain Capital

Goldman Sachs (GS), the banking group, announced an additional provision of 2.01 billion dollars on second quarter accounts, related to 1MDB legal charge. As a consequence, second quarter EPS reported is now 0.53 dollar vs 6.26 dollars previously posted.

T-Mobile US (TMUS), a wireless network operator, gained ground in extended trading after posting second quarter earnings that beat estimates.

Dropbox (DBX), the smart workspace, lost ground after hours despite reporting quarterly EPS above estimates and sales in line with expectations. The stock is up about 30% in 2020.

DISH Network (DISH), a satellite television services provider, is gaining ground before hours on better than expected quarterly earnings.

Booking Holdings (BKNG), one of the largest online travel companies, reported a second quarter adjusted LPS of 10.81 dollars, beating estimates, vs an EPS of 23.59 dollars a year earlier, on sales of 630 million dollars, down from 3.9 billion dollars a year ago, as travel bookings fell 91% due to the pandemic.

Groupon (GRPN), the mobile and online marketplace, soared in extended trading after reporting quarterly earnings that significantly beat expectations.

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