Credit: Reuters/Lucas Jackson
1 of 3. A trader works on the floor of the New York Stock Exchange shortly after the markets opening in New York, July 22, 2013.
In another busy day of earnings, Boeing (BA.N) and Caterpillar (CAT.N) are among blue-chips that report.
The tech sector is likely to be in the spotlight, boosted by shares of Apple (AAPL.O), up 4.3 percent at $436.93 in premarket trade. The tech giant late Tuesday posted stronger-than-expected quarterly profit and revenue, boosted by a jump in iPhone sales to 31.2 million.
Also boosting market sentiment, euro zone private industry unexpectedly bounced back to growth this month as factories increased output for the first time in well over a year, according to business surveys.
But the positive news out of Europe follows data showing yet another sign of a slowdown in China's economy. China's flash HSBC/Markit Purchasing Managers' Index fell to 47.7 this month from June's final reading of 48.2 as new orders faltered and a sub-index measuring employment sank to its weakest since March 2009.
S&P 500 futures rose 4.9 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 27 points, and Nasdaq 100 futures added 27 points.
On Tuesday the S&P 500 snapped a four-day winning streak and pulled back from Monday's record closing high, while healthy earnings from United Technologies gave the Dow a slight lift.
In economic news, June new-home sales data is due at 10:00 a.m. ET. Sales are forecast to rise to an annual rate of 482,000 last month, from an initial 476,000 in May, according to a Reuters survey of analysts.
(Reporting by Angela Moon; Editing by Chizu Nomiyama)
No comments:
Post a Comment