Wall Street poised to open lower
U.S. stocks are expected to fall at open lower this morning as recession fears and Hong Kong protests continue to grip investors. Hong Kong International Airport, which is one of the world’s busiest, has suspended flight check-in for a second consecutive day after anti-government protesters flooded the facility.
The city’s leader, Carrie Lam, has pleased for calm amid escalating demonstrations. Australian Prime Minister Scott Morrison and Justin Trudeau of Canada have also called for a peaceful resolution to the unrest.
At 5:42 a.m. ET, the S&P 500 futures contract was down 9.87 points or 0.34% to 2,870.38, the Dow futures contract was down 87 points, or 0.34% to 25,780, while the tech-heavy Nasdaq 100 Futures contract was down 42.50 points, or 0.56% to 7,524.25.
July CPI data due today
The U.S. Department of Labor will release Consumer Price Index (CPI) numbers from the month of July today at 8:30 a.m. ET.
Economists expect core CPI, which excludes energy and volatile food prices, to have risen 0.2% from June and 2.1% year-over-year, according to data compiled by Bloomberg. Last month, Core CPI remained above the Federal Reserve’s target of 2%.
Tilray earnings on tap
On the earnings front, Canadian marijuana grower Tilray (NASDAQ: TLRY) is scheduled to report second-quarter financial results after the closing bell today. Analysts expect the company to post a loss of $0.26 per share on revenue of $40.3 million.
Other companies reporting today include YY Inc. (NASDAQ: YY), JD.com (NASDAQ: JD), Brinker International (NYSE: EAT), Elanco Animal Health (NYSE: ELAN), and Advance Auto Parts (NYSE: AAP).
