US markets look set for a higher open ahead of another full day of corporate earnings reports after Ukrainian separatists cooperated with Malaysian authorities and Netflix saw a surge in its online TV/film streaming users. Futures suggest the Dow Jones will open 28 points higher at 17,079 with the S&P500 expected to open 2 points higher at 1,975 and the Nasdaq 6 points higher at 3,940. Ukrainian militia in Donetsk have handed over two functioning black boxes from downed flight MH17 to Malaysian experts to examine while European leaders meet to discuss the possibility of more sanctions on Russia. The situation in Ukraine is pretty dire but at least with the black boxes being handed over from flight MH17, there’s a better chance of understanding what happened in the crash and removing some of uncertainty from the market. It’s a heavy day for US earnings with releases from McDonalds, Apple, Microsoft, Comcast, Verizon, Coca-Cola and Lockheed Martin. McDonalds were hit with another food safety scare yesterday after it emerged a Chinese supplier was sending them out of date meat. McDonalds have made great strides to rid themselves of the junk food image but occurrences like this will be challenge to the company's PR department. McDonalds is expected to earn $1.44 per share on revenue of $7.29bn. Also one to watch will be Herbalife with hedge fund manager Bill Ackman vowing to reveal “Enron-like” fraud about the supplement-seller in a presentation today. Shares were already down 7% yesterday and could run all the way to zero if his allegations prove true. CMC Markets is an execution only provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
MH17 progress and strong Netflix earnings lift stocks; Herbalife to watch
11:00, 22 July 2014