Market Overview

US Stock Futures Up; ADP Report, Beige Book In Focus

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US stock futures are higher this morning, as investors are awaiting economic data. Futures for the Dow Jones Industrial Average surged 45 points to 14,278.00 and S&P 500 index futures rose 5.40 points to 1,542.50. Nasdaq 100 futures climbed 7 points to 2,805.25.

US stocks closed higher on Tuesday, with the Dow Jones Industrial Average gaining 0.89% to 14,253.77, the S&P 500 index rising 0.96% to 1,539.79 and the Nasdaq 100 index climbing 1.32% to 3,224.13.

The MBA purchase applications index will be released at 7:00 a.m. ET, while the ADP national employment report for February will be released at 8:15 a.m. ET. Data on factory orders for January will be released at 10:00 a.m. ET, while the EIA weekly report on petroleum inventories will be released at 10:30 a.m. ET. The Federal Reserve will release its Beige Book report at 2:00 p.m. ET.

Smith & Wesson Holding (NASDAQ: SWHC) reported a surge in its Q4 earnings and lifted its full-year outlook.

VeriFone Systems (NYSE: PAY) swung to a profit in the first quarter.

American Eagle Outfitters (NYSE: AEO) is estimated to report its Q4 earnings at $0.56 per share on revenue of $1.12 billion. Big Lots (NYSE: BIG) is projected to report its Q4 earnings at $1.98 per share on revenue of $1.75 billion. The Fresh Market (NASDAQ: TFM) is expected to report its Q4 earnings at $0.45 per share on revenue of $380.12 million.

Brown-Forman (NYSE: BF-B) is estimated to report its Q3 earnings at $0.70 per share on revenue of $1.03 billion. Korn/Ferry International (NYSE: KFY) is expected to post its Q3 earnings at $0.29 per share on revenue of $203.89 million. PetSmart (NASDAQ: PETM) is estimated to post its Q4 earnings at $1.21 per share on revenue of $1.89 billion. Hovnanian Enterprises (NYSE: HOV) is expected to post a Q1 loss at $0.10 per share on revenue of $381.11 million.

Piedmont Natural Gas Co (NYSE: PNY) is expected to post its Q1 earnings at $1.16 per share on revenue of $491.42 million. DryShips (NASDAQ: DRYS) is estimated to post a Q4 loss at $0.11 per share on revenue of $294.30 million. Vail Resorts (NYSE: MTN) is expected to post its Q2 earnings at $1.70 per share on revenue of $414.13 million. Staples (NASDAQ: SPLS) is estimated to report its Q4 earnings at $0.45 per share on revenue of $6.72 billion.

European markets were higher today. The STOXX Europe 600 Index surged 0.16%, London's FTSE 100 Index gained 0.17%, French CAC 40 Index rose 0.18% and German DAX 30 index surged 1.01%.

Asian markets ended higher, with Japan's Nikkei Stock Average gaining 2.13%, China's Shanghai Composite surging 0.90% and Australia's S&P/ASX 200 rising 0.84%. Hong Kong's Hang Seng Index gained 0.96% and India's Sensex climbed 0.57%.

Crude-oil futures for April dropped 0.25% to trade at $90.59 a barrel, while gold for April delivery declined 0.10% to trade at $1,573.30 an ounce.

The ICE dollar index (DXY) gained 0.12% to trade at 82.17, up from 82.078 in late North American trading on Tuesday.

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

 

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