After a finely balanced session yesterday with mixed earnings and economics; US markets look to open lower on the open; afterhours Amazon printed another larger than expected loss but Visa and Starbucks got the job done beating earnings and revenue estimates. Futures suggest the Dow Jones will open 37 points lower at 17,046 with the S&P500 expected to open 3 points lower at 1,984 and the Nasdaq 16 points lower at 3,967. Amazon is a stock in the public’s eye and tends to drive perception on overall earnings for the quarter and as such is likely to act as a drag on the forthcoming session. Overall investors will be aware that more US companies reporting are beating expectations than not as supported by the latest reports from Visa and Starbucks. Amazon shares got dumped by a massive 11% after reporting a 23% jump in sales from a year ago but a loss of 27c per share for the second quarter. Stock prices are ultimately supposed to be a reflection of discounted future earnings, while making a loss it’s difficult to justify higher prices in Amazon. To the patient investor though, these short term losses offer a potential opportunity; CEO Jeff Bezos is focused on growing and expanding Amazon into new growth industries. If, at some point these ventures turn profitable, the profits are likely to be that much higher on top of the increased revenue. Visa continued to benefit from a growing global trend towards consumers using debit and credit cards instead of cash earning $2.17 per share on revenue of $3.16bn. Starbucks managed to narrowly beat earnings. The skyrocketing price of coffee this year doesn’t seem to have hurt the company so far. The company is raising prices to offset the associated increased input costs but this is likely to be industry-wide and as such shouldn’t affect competitiveness. The US durable goods orders are expected to grow 0.4% in June, an improvement over the -0.9% decline seen the month prior.