U.S. Stock Futures Rise as Market Focus Shifts Back to Corporate Earnings and Oil Prices

August 3rd, as market attention shifts to this week's heavy earnings reports, U.S. stock index futures opened higher on the first trading day of the month. Additionally, a drop in oil prices on Monday also boosted market sentiment.

RJ Financial's Chief Market Strategist, Matt Orton, said, "Earnings will continue to be a top priority for the market, with about 15% of S&P 500 index components set to report earnings based on market capitalization." He pointed out that the energy, healthcare, utilities, and industrial sectors are worth watching because these sectors "have benefited from recent market rotation." He said, "Earnings from these sectors will help determine whether this relative strength is sustainable on a fundamental basis." (FXStreet)