News Column

Futures set gains for a Wall Street rebound

February 4, 2014

Wall Street might have got in to a bad start this year, but markets may be set for a bounce Tuesday. U.S. stock futures moved higher ahead of the bell, with the S&P 500 index poised to gain over 0.3% at the opening. -Futures on the Dow Jones Industrial Average gained 0.242% to 15329 -Futures on the S&P 500 index gained 0.381% to 1739.20 -Futures on the NASDAQ 100 gained 0.226% to 3437.75 . As of 06:42 a.m. ET World markets suffered another battering Tuesday, taking their cue from a sharp U.S. sell-off Monday. Japan`s Nikkei index fell 4.2%, extending its losses this year to just over 14%. The slide has put the index well into correction territory, and erased a chunk of last year`s stunning 57% gain . Hong Kong`s Hang Seng also pushed into a correction, dropping nearly 3%. Today's economic calendar will be limit by a monthly report on factory orders at 10:00 a.m. ET by the U.S. Census Bureau , with a number of companies posting quarterly results. Corporate Earnings On the corporate side, BP shares shed about 2% in London trading after the oil and gas firm reported a drop in fourth-quarter earnings. But UBS looked set to pop at the open after the Swiss bank reported better-than-expected quarterly earnings. Shares in fast food conglomerate Yum! Brands surged 4.4% in after-hours trading Monday after its earnings beat expectations. ARM Holdings` fourth quarter earnings disappointed some investors, and the shares were down roughly 5% in London .

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Source: Financial Markets

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