(Reuters) – US stock market futures got higher on Friday, as strong results for Microsoft's cloud industry's commercial influence after New York Fed signs President John Williams that US central bank was set to cut interest rates this month.
Traders on the New York Stock Exchange (NYSE) in New York, USA July 16, 2019. REUTERS / Brendan McDermid
Microsoft Corp. ( MSFT.O ), now America's Most Valuable company, got the 3.5% premarket, after it peaked analysts' estimates at the end of a week of mixed corporate results in the US and Europe.
Williams says the Fed cannot wait for economic catastrophe to develop on Thursday afternoon, was behind the positive session of the previous session and helped drive a number of market moves on Friday.
Traders increased the stakes for a larger, half-percentage cut in rates at the July 30-31 policy meeting to 46%, from a 23% chance a week ago, according to the CME Group's FedWatch program.
At 6:54, ET, Dow e-minis 1YMcv1 is up 36 points or 0.13%. S & P 500 e-minis EScv1 was up 1 point, or 0.03% and Nasdaq 100 e-minis NQcv1 was up 9.5 points, or 0.12%.
The main indices have turned full-time beats at the beginning of this week, as some of the first rates in second-quarter revenue streams pointed to a slowdown in growth under the shadow of trade negotiations in the US and China.
Boeing Co ( BA.N ) rose 1.7% after revealing that it would take a $ 4.9 billion after-tax in Q2 on estimated disturbances from the basis of its 737 MAX airliners.
Analyst Rajeev Lalwani, Morgan Stanley, said it was a sign that investors were comfortable with the size of the charge and Boeing's production plans ahead of the results next week.
Shares of the world's largest oilfield supplier Schlumberger NV ( SLB.N ) also increased 1% when it announced better than expected revenue numbers and named the company's insider Olivier Le Peuch as the new CEO.
American Express Co ( AXP.N ) had achieved 1.2% over its own performance release.
(Corrects typing errors in second paragraph)
Reporting of Medha Singh in Bengaluru; editing by Patrick Graham