Market Overview

US Stock Futures Up; All Eyes On Apple

US Stock Futures Up; All Eyes On Apple
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US stock futures are higher this morning. Futures for the Dow Jones Industrial Average surged 64 points to 13,357.00 and S&P 500 index futures rose 7.10 points to 1,437.70. Nasdaq 100 futures gained 17.75 points to 2,797.00.

US stocks closed higher on Tuesday, with the Dow Jones Industrial Average rising 0.52% to 13,323.36, the S&P 500 index gaining 0.31% to 1,433.56 and the Nasdaq 100 index rising 0.02% to 3,104.53

Data on August import prices will be released at 8:30 a.m. ET, while July wholesale inventories data will be released at 10 a.m. ET. The Federal Open Market Committee starts its 2-day meeting today.

Apple (NASDAQ: AAPL) is expected to unveil its new iPhone today.

Pall (NYSE: PLL) is expected to post its Q4 earnings at $0.77 per share on revenue of $718.79 million. Spartech (NYSE: SEH) is expected to post its Q3 EPS at $0.12 on revenue of $297.65 million.

Xyratex Ltd (NASDAQ: XRTX) lowered its third-quarter sales forecast.

Globecomm Systems (NASDAQ: GCOM) posted its Q4 adjusted earnings at $0.13 per share, missing analysts' estimates of $0.20 per share.

Texas Instruments (NASDAQ: TXN) narrowed its forecast for the third quarter.

Steel Dynamics (NASDAQ: STLD) issued downbeat earnings forecast for the third quarter. CYS Investments (NYSE: CYS) cut its quarterly dividend by 10%.

European markets were higher today. The STOXX Europe 600 Index rose 0.45%, French CAC 40 index gained 0.62%. London's FTSE 100 Index moved up 0.30% and German DAX 30 index rose 0.71%.

Asian markets ended higher, with Japan's Nikkei Stock Average rising 1.73%, China's Shanghai Composite gaining 0.28% and Australia's S&P/ASX 200 moving up 0.80%. Hong Kong's Hang Seng index gained 1.10% and India's Sensex rose 0.77%.

Japan's core machinery orders climbed 4.6% in July, versus 5.6% in June, according to the Cabinet Officer.

Gold for December delivery gained 0.7% to $1,746.70 an ounce, while crude oil for October delivery gained 0.7% to $97.80 a barrel.

The ICE dollar index (DXY) declined to 79.693, versus 79.866 in late North American trading Tuesday.

The euro gained 0.24% versus the dollar to trade at $1.2887, up from $1.2857 late Tuesday.

Posted-In: US Stock FuturesNews Futures Global Pre-Market Outlook Markets


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