US Stock Futures Edge Higher After Alcoa Earnings
US stock futures are slightly higher this morning after Alcoa's (NYSE: AA) results. Futures for the Dow Jones Industrial Average surged 16 points to 13,283.00 and S&P 500 index futures rose 0.90 points to 1,453.20. Nasdaq 100 futures gained 0.75 points to 2,714.75.
US stocks closed lower on Tuesday, with the Dow Jones Industrial Average dropping 0.41% to 13,328.85, the S&P 500 index falling 0.32% to 1,457.15 and the Nasdaq 100 index declining 0.23% to 3,091.81.
The MBA purchase applications index will be released at 7:00 a.m. ET.
Constellation Brands (NYSE: STZ) is projected to report its Q3 earnings at $0.55 per share on revenue of $751.83 million. Texas Industries (NYSE: TXI) is estimated to post a Q2 loss at $0.32 per share on revenue of $161.66 million. The Greenbrier Companies (NYSE: GBX) is expected to report its Q1 earnings at $0.31 per share on revenue of $400.42 million.
Helen of Troy (NASDAQ: HELE) is projected to report its Q3 earnings at $1.13 per share on revenue of $379.23 million. Ruby Tuesday (NYSE: RT) is expected to post a Q2 loss at $0.06 per share on revenue of $305.01 million.
PriceSmart (NASDAQ: PSMT) is estimated to post its Q1 earnings at $0.62 per share on revenue of $535.38 million. Shaw Communications (NYSE: SJR) is expected to report its Q1 earnings at $0.45 per share on revenue of $1.31 billion.
Alcoa issued an upbeat demand forecast. The company posted a profit of $242 million in the fourth quarter.
Seagate Technology (NASDAQ: STX) lifted its sales view for the second quarter.
European markets were higher today. The STOXX Europe 600 Index rose 0.23%, London's FTSE 100 Index gained 0.27%, German DAX 30 Index climbed 0.05% and French CAC 40 Index rose 0.11%.
Asian markets ended mostly higher, with Japan's Nikkei Stock Average rising 0.67%, China's Shanghai Composite declining 0.03% and Australia's S&P/ASX 200 Index rising 0.38%. Hong Kong's Hang Seng Index gained 0.46% and India's Sensex dropped 0.38%.
Crude oil for February delivery dropped $0.20 to trade at $92.95 a barrel.
The ICE dollar index (DXY) gained 0.15% to trade at 80.45, versus 80.323 in late North American trading Tuesday.
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