Wall Street reports! What you need to know before markets open

Markets look set for a higher open as investors cheer Greece's approval of a bailout plan and digest earnings from some Wall Street heavyweights.

U.S. stock index futures are rising today as investors welcomed Greek parliamentary approval of a bailout plan as well as on strong results from Netflix and Intel overnight.

The European Central Bank will come across later in the day and therefore are expected to ease its funding squeeze on shuttered Greek banks.Magna International Inc., North America\’s biggest auto-parts maker, decided to buy German manufacturer Getrag for 1.75 billion euros (US$1.9 billion), gaining control of one of the largest independent producers of car transmissions.Netflix\’s shares jumped 11 percent to $109 premarket each day after the company added nearly another more subscribers than expected in the second quarter.Intel rose 2.9 percent to $30.55 each day after it reported better-than-expected quarterly results.Goldman Sachs Group Inc\’s profit more than halved within the second quarter as trading revenue weakened and litigation provisions soared.Blackstone Group LP, the earth\’s largest alternative asset manager, reported a 62 percent slump in second-quarter earnings, blaming weak global equity markets that weighed on the value of some of its holdings.Citigroup Inc, the third biggest U.S. bank by assets, reported its highest quarterly profit in eight years as restructuring and price cuts repaid and legal expenses plunged.Fed Chair Janet Yellen said on Wednesday that rates is going to be raised this season, but did not give clues concerning the timing or pace of a hike. She continues her congressional testimony on Thursday.Corporate America is anticipated to report its worst sales decline in nearly six years for that second quarter, while profit is anticipated to have fallen 2.9 per cent, according to Thomson Reuters estimates.EBay is also scheduled to report before the bell. Mattel and Google report after markets close.Initial claims for state unemployment benefits are likely to fall 12,000 a week ago to a seasonally adjusted 285,000. The information is expected at 8:30 a.m. ET.
? Thomson Reuters 2015