Stocks set for a flat open despite Goldman's earnings
U.S. stock futures were mixed in a narrow range Tuesday morning, indicating Wall Street stocks could have a flat open, despite Goldman Sachs topping earnings estimates. It seems investors are much more concerned about the general earnings season and the grim outlook for corporate results. Some economic data released later this morning, including retail sales and inflation numbers, will also grab investors' attention.
Goldman Sachs (GS) reported a larger-than-expected quarterly profit of $1.8 billion after the close on Monday. It also announced plans to sell $5 billion in stock to help repay its $10 billion government loan. Today, two Dow stocks will be reporting earnings, Johnson & Johnson (JNJ) and Intel (INTC).