July 25, 2013- Stocks Look to Retreat on Weak Earnings

The trading in the U.S. index futures suggests that U.S. stocks may open lower, as doubts and apprehensions resurface amid mixed catalysts on the earnings and economic front. Earlier in the global trading day, Asian stocks closed lower and European stocks are currently lower despite in line U.K. GDP and better than expected German business confidence data. Domestically, traders are likely to turn to another batch of earnings reports and the jobless claims and durable goods orders reports to get additional clarity on the economic outlook. The Dow futures were down 88 points, the S&P futures were down 11.40 points and the Nasdaq 100 futures were down 20 points. U.S. stocks succumbed to selling pressure generated by the overbought levels of the markets on Wednesday, as traders focused on some disappointing earnings and better than expected new home sales data that stirred anxiety concerning monetary policy outlook.