By Victor Reklaitis, MarketWatch
Priceline, First Solar among the big advancers
U.S. stocks looked on track to rise Wednesday and recover a bit
after a three-day skid, as earnings-driven jumps by Priceline and
First Solar helped lead the S&P 500 higher.
But analysts said investors are wary ahead of Friday's monthly
jobs report, and a hint of how that report might look will arrive
later Wednesday, with ADP's private-sector employment data.
Futures for the S&P 500 were last up 13.35 points, or 0.6%,
to 2,096.25, while those for the Dow Jones Industrial Average
advanced by 61 points, or 0.4%, to 17,515. Futures for the Nasdaq
100 tacked on 30.75 points, or 0.7%, to 4,582.50.
On Tuesday, U.S. stocks closed lower for a third-straight
session, with the S&P 500 down 0.2%
(http://www.marketwatch.com/story/us-stocks-set-for-choppy-day-as-traders-wait-for-nonfarm-payrolls-earnings-2015-08-04),
as buzz grew about a September interest-rate hike by the Federal
Reserve.
What strategists are saying: "Investors are still very cautious
ahead of the big day" -- meaning Friday, when the jobs report
arrives, said Naeem Aslam, chief market analyst at AvaTrade, in a
note Wednesday.
Meanwhile, several large-cap stocks with strong profit growth
are sending a positive message about the stock market's health,
says MarketWatch contributor Kevin Marder in his latest column
(http://www.marketwatch.com/story/glamour-stocks-continue-to-send-the-right-message-2015-08-04).
He's upbeat on how stocks found a bottom last week.
Economic reports: Automatic Data Processing Inc.'s July
private-sector jobs report is expected at 8:15 a.m. Eastern Time,
followed by a June reading for the U.S. trade deficit at 8:30 a.m.
Eastern.
At 10 a.m. Eastern, investors will take in a July figure for the
Institute for Supply Management's non-manufacturing index, with
economists polled by MarketWatch expecting 56.5%.
In Federal Reserve news, Fed Governor Jerome Powell said
Wednesday he's undecided on supporting a September rate hike
(http://www.marketwatch.com/story/feds-powell-on-the-fence-about-september-rate-hike-2015-08-05).
That's after two Fed regional bank presidents have come out in
favor of a September hike earlier this week.
Check out:
Other markets: Asian stocks mostly rose
(http://www.marketwatch.com/story/china-data-lift-most-asian-stocks-but-not-chinese-shares-2015-08-05)
after a gauge of China's service sector reached an 11-month high,
but the positive sentiment didn't carry over to Chinese equities.
European stocks were broadly higher
(http://www.marketwatch.com/story/european-stocks-on-course-for-highest-close-in-three-weeks-2015-08-05),
while oil rallied for a second day
(http://www.marketwatch.com/story/oil-recovers-further-as-supply-report-looms-2015-08-05)
and gold fell.
The dollar edged up against its major rivals.
Movers & Shakers: Shares in Priceline Group Inc.(PCLN) rose
more than 6% in premarket trading for one of the S&P 500's
biggest gains after the online travel broker posted
better-than-anticipated quarterly profit.
First Solar Inc.(FSLR) was the biggest S&P advancer,
climbing nearly 10% after its quarterly results topped estimates
(http://www.marketwatch.com/story/first-solar-shares-up-12-after-earnings-revenue-beat-2015-08-04)
late Tuesday.
Walt Disney Co.(DIS) shares fell nearly 7% in premarket action,
for the biggest drop among Dow stocks. Late Tuesday, the
entertainment giant's quarterly revenue missed forecasts
(http://www.marketwatch.com/story/disney-profit-boosted-by-avengers-frozen-2015-08-04).
Read: What's dimming Disney's magic? Try the strong dollar
(http://www.marketwatch.com/story/whats-dimming-disneys-magic-try-the-strong-dollar-2015-08-05)
Lumber Liquidators Holdings Inc. (LL) dived 20% premarket after
the flooring retailer posted a surprise loss
(http://www.marketwatch.com/story/lumber-liquidators-swings-to-loss-as-sales-slide-2015-08-05-64853552).
Read more:MarketWatch's Movers & Shakers column
(http://www.marketwatch.com/story/fitbit-tesla-lumber-liquidators-come-into-focus-2015-08-05)
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