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