By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) -- Wall Street stocks were set to open
modestly higher on Wednesday, though earnings from Boeing Co. and
PepsiCo Inc., among others, will command investors' attention
before the bell.
Reaction to results late Tuesday from Apple Inc. and Microsoft
Corp. could also be seen in the premarket trading hours.
Futures for the Dow Jones Industrial Average (DJU4) rose 30
points to 17,063, while those for the S&P 500 index (SPU4) were
up 3.8 points to 1,978.70. Futures for the Nasdaq-100 index (NDU4)
gained 7 points to 3,957.50.
The data calendar is empty for Wednesday, leaving investors to
fix their attention on corporate earnings. Reporting early,
Whirlpool Corp.(WHR) posted weaker-than-expected earnings, and
shares were off over 5% in thin, premarket trade.
Boeing (BA) is expected to post second-quarter earnings of $2
per share. Delta Air Lines Inc. (DAL), PepsiCo (PEP) and Whirlpool
Corp. (WHR) are also lined up for pre-open results.
After the close, earnings from Facebook Inc. (FB) and AT&T
Inc. (T) will be among the highlights.
Investors may see reaction to big tech earnings that came late
Tuesday. Apple (AAPL) posted a fall in iPad sales, which weighed on
shares in late trading despite the company's better-than-expected
quarterly results and strong iPhone sales. Read: Apple gets patent
for wearable watch dubbed the iTime
Microsoft reported a 7.1% fall in quarterly profit,
disappointing Wall Street forecasters, as it took a financial hit
from the purchase of Nokia Corp's (NOK) cellphone unit.
Stock futures appeared to be building on Tuesday's gains for
markets. The S&P 500 (SPX) finished up 0.5%, to 1,983.56, just
shy of its record closing level reached July 3.
Among other markets, the Stoxx Europe 600 index edged up 0.2%
Wednesday, while Asia also logged a mostly-higher finish.
Crude oil prices (CLU4) fell ahead of key supply data, while
gold prices (GCU4) edged up slightly. The dollar rose against the
British pound (GBPUSD) after minutes from the Bank of England's
July meeting showed all members voted to keep monetary policy
loose.
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