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Wall Street set for a rebound, Apple`s results act as a spark plug

January 27, 2014

Wall Street was poised to return to gains Monday, as investors aimed for rebound ground after a week of losses, with Apple's first quarterly profit in a year is awaited. U.S. stock futures moved higher ahead of the open, with global markets still under pressure. -Futures on the Dow Jones Industrial Average gained 0.209% to 15849 -Futures on the S&P 500 gained 0.455% to 1790.20 -Futures on the NASDAQ 100 gained 0.219% to 3540.00 . As of 07:08 a.m. ET Last week was a rough week for U.S. stocks. The Dow Jones industrial average shed around 2% on Friday, to end the week down 3.5%. The NASDAQ and S&P 500 both closed down over 2% on Friday, and posted losses for the week. Regarding economic data, Monday will only include December's new home sales in the U.S. Apple Seeks profits from China The world's most valuable company, Apple Inc. is projected to report 5 per cent sales growth and a 2 per cent profit increase today for its fiscal first quarter, typically the period when Apple generates its biggest chunk of revenue. Apple is poised to record its first profit gain in more than a year after shoppers who shunned clothes and purses during the holidays shelled out for iPads and iPhones. China will be involved much more in Apple's results this year, starting with today's results. China was included in the launch of the iPhone 5S and 5C in the fall, and Apple finally signed a deal with China Mobile Ltd. The latter`s impact should surface in the company`s outlook for the current period. In premarket hours, shares in Google were little changed after the company announced it acquired London -based artificial intelligence firm DeepMind Technologies . It`s the latest in a series of start-up purchases by the tech giant as it looks to beef up its expertise in artificial intelligence and robotics . Sony shares lost 2.3% in premarket trading after the firm`s debt rating was downgraded to `junk` status by Moody`s, with the agency warning that profitability at the tech company would likely remain weak and volatile.

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Source: Financial Markets

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