WEDNESDAY 7/22/15; Global Selloff After Disappointing Tech Earnings; AN; BA; KO; ITW; WHR; Existing Home Sales; AXP; QCOM; TXN; FTK; NEM; SNDK; URI

At 8:38 AM Tokyo time (7:38 PM EST Tuesday evening in the States), US futures are soft after the disappointing earnings results from tech heavyweights YHOO, MSFT and AAPL as well as blue chip stocks UTX and VZ. S&P -8. Dow -70. Nasdaq -50. Euro 1.0932. Dollar/yen 123.85. The NIKK futures point to a lower open.

The NIKK begins 

































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 blaming the oil and gas slowdown. Gold miner NEM beats on EPS but misses on the top line. LVS jumps +4% higher and should buoy Asian gambling stocks overnight. Cost-cutting measures are benefiting Las Vegas Sands and the big drop in Macau gambling may be stabilizing.

US futures are buoyant after a two-day retreat. S&P +3. Dow +15. Nasdaq +9. Euro 1.0925. Dollar/yen 124.04. Pound 1.5613.