The main U.S. indexes have all rallied by 19% to 22% so far this year and now investors are taking a breather.
"It seems that we've now reached a post-nonfarm payrolls and summer-induced lull, if volumes across a number of markets are anything to go by," wrote Deutsche Bank analyst Jim Reid, in a client note. "The absence of any major headlines in the last 48 hours and the slow run-off of the U.S./European reporting calendar have also added to the temporary pause we're experiencing."
The vast majority of large U.S.-traded companies have already reported quarterly results, but a few more are trickling in.
Shares of Molson Coors Brewing ( rose in premarket trading after the brewer reported strong earnings and sales, helped by a 20% jump in beer volume. )
Fossil ( stock also rallied on strong earnings. )
And shares of Michael Kors ( rose sharply after the luxury retailer reported sales and earnings that blew past expectations. )
DISH Network (Fortune 500) reported a net quarterly loss related to an acquisition of two of its satellites. ,
Disney (Fortune 500) is due after the close. ,
In economic news, the U.S. Census Bureau will publish its report on the country's June trade balance at 8:30 a.m. ET.
In other corporate news, shares of The Washington Post ( slipped after )Amazon.com (Fortune 500) founder Jeff Bezos said he was buying the company's world-renowned , newspaper business. Bezos is buying the company's flagship paper -- The Washington Post -- and other print properties for $250 million.
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