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Premarket: Stocks head for lower opening, despite several earnings beats Add to ...

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U.S. stock futures are modestly lower this morning and overseas markets mixed, as traders take in another batch of corporate earnings and await the latest U.S. housing and consumer confidence readings. Most major commodities are a little higher.

It should translate into a slightly lower open for the TSX, but again today, the Toronto stock market is unlikely to see drastic moves. The earnings season has been positive - with 75 per cent of S&P 500 companies that reported results so far beating profit expectations. Yet the recent run-up in U.S. stock values to near all-time highs has market participants worried about a pullback. In total, 25 stocks in the S&P 500 index are scheduled to report earnings today.

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