US Stock Futures Move Up As Trader Focus Shifts To Earnings
US stock futures moved marginally up today as investors turn their focus on earnings and Hewlett-Packard’s (NYSE: HPQ) takeover deal with Palm (NASDAQ: PALM). While futures on the S&P 500 gained 5.7 points to 1195.80, those on the Nasdaq 100 added 9 points to 2015.75. Meanwhile, Dow Jones Industrial Average futures climbed 34 points.
Strategist Jim Reid of Deutsche Bank, said in a note to investors, “"Looking ahead to today, weekly jobless claims in the U.S. should be the data focus and markets are looking for an 11,000 decline in initial claims."
Some of the companies that may be in focus today are household goods giants, Unilever PLC (NYSE: UL), Procter & Gamble Co (NYSE: PG) and Potash (NYSE: POT). While UL rose in the premarket trading session, PG lost ground after it announced its first-quarter reports. Meanwhile, Potash (NYSE: POT) stepped back 2% after its first-quarter results.
Meanwhile, European markets rebounded today, as traders turned their focus to corporate earnings, from the sovereign debt worries. Debt markets have also been calmer than the way they have been recently. Markets across Europe moved up as heavyweights such as Unilever and Siemens AG (NYSE: SI) posted better-than-expected earnings. Asian markets, however, traded mixed as banking and metals stocks created pressure in the Australian market, while impressive earnings results by some technology firms lifted stocks in Taiwan.
Read more from Benzinga's Markets.
