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US stock futures higher, fresh corporate earnings eyed

January 21, 2014

Investors return to action Tuesday from Martin Luther King Jr . Day holiday, with only corporate results to take in. U.S. stock futures pointed to a higher open Tuesday morning. -Futures on the Dow Jones Industrial Average gained 0.360% to 16456 -Futures on the S&P 500 gained 0.283% to 1839.50 -Futures on the NASDAQ 100 gained 0.488% to 3602.25 . As of 07:00 a.m. ET The tech sector was expected to be active; amid reports China`s Lenovo Group is in discussions to acquire International Business Machines` low-end server business. A deal could reportedly be signed within weeks. IBM shares were up 0.42% in pre-market trade. Aircraft manufacturer Boeing was also likely to be in focus, as Jet Airways was said to be ready to place an order for 50 Boeing aircraft worth USD2.5 billion In the financial sector, JPMorgan Chase , up 0.43% in early trading, said it quit working on Tianhe Chemicals Group's planned $1 billion initial public offering in Hong Kong amid a U.S. probe into hiring practices. Other stocks likely to be in focus included Johnson & Johnson , Travelers Companies and Verizon Communications , Delta Air , Halliburton and Rockwell Collins , which are all scheduled to report fourth-quarter results later in the day. Earlier today, The Chinese central bank induced 255 billion Yuan to the financial system and expanded a loan facility to meet the Lunar New Year demand for cash, avoiding a possible credit crunch.

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Source: Financial Markets

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