Stocks- U.S. Futures Inch Up Ahead of Corporate Earnings

  • Stock Market News
Stocks- U.S. Futures Inch Up Ahead of Corporate Earnings
Credit: © Reuters. – U.S. futures were higher on Tuesday, as investors wait for more corporate earnings results.

The S&P 500 futures rose seven points or 0.25% to 2,810.25 as of 6:50 AM ET (10:50 GMT) while Dow futures were up 36 points or 0.14% to 25,321.0. Meanwhile tech heavy Nasdaq 100 futures increased seven points or 0.10% to 7,207.50.

Apple (NASDAQ: AAPL ) is the main event of the day, with the largest company by market cap expected to report after the closing bell. Traders will be looking closely to iPhone unit sales in addition to top-and bottom-line numbers. Apple inched up 0.09% in pre-market trading.

Other company earnings expected on Tuesday include Procter & Gamble Company (NYSE: PG ), Pfizer (NS: PFIZ ) (NYSE: PFE ), Ralph Lauren (NYSE: RL ), Baidu Inc (NASDAQ: BIDU ) and others.

Investors are also waiting for a flurry of central bank policy decisions this week. The Federal Reserve makes a policy decision Wednesday afternoon, but with no rate hike expected. Investors expect the Fed to raise rates in September, with the chance of an increase at 87.8%.

Twitter Inc (NYSE: TWTR ) was among the top gainers before the morning bell, rising 1.53%. Dropbox Inc (NASDAQ: DBX ) was up 1.91% while Microsoft (NASDAQ: MSFT ) gained 0.53% and Deutsche Bank AG (DE: DBKGn ) (NYSE: DB ) surged 2.81%.

Elsewhere Chipotle Mexican Grill (NYSE: CMG ) slumped 2.26% while Logitech International SA (NASDAQ: LOGI ) fell 1.72% and Caterpillar (NYSE: CAT ) was down 0.93%.

On the data front, the Fed’s preferred inflation metric , along with personal income and spending , will be released at 8:30 AM ET (12:30 GMT). The Chicago purchasing managers’ index is due at 9:45 AM ET (13:45 GMT) followed by consumer confidence that is scheduled for 10:00 AM ET (14:00 GMT).

In Europe stocks were up. Germany’s DAX rose three points or 0.03% while in France the CAC 40 increased four points points or 0.08% and in London, the FTSE 100 was up 33 points or 0.43%. Meanwhile the pan-European Euro Stoxx 50 gained 11 points or 0.32% while Spain’s IBEX 35 surged 61 points or 0.63%.

In commodities, gold futures fell 0.37% to $1,216.80 a troy ounce while crude oil futures were down 0.58% to $69.72 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was down 0.08% to 94.06.

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