News Column

US stock futures rise as earnings reports roll in

July 23, 2014



NEW YORK (AP) U.S. stock futures are edging up ahead of the opening bell as investors size up earnings reports from Apple, Boeing and other big companies.

KEEPING SCORE: Dow Jones industrial average futures rose 11 points, or 0.1 percent, to 17,044 as of 8:21 a.m. Eastern time. Standard & Poor's 500 index futures added three points, or 0.2 percent, to 1,978. Nasdaq 100 futures advanced 13 points, or 0.3 percent, to 3,963.

BIG TECH: After the market closed Tuesday, Apple Inc. reported higher quarterly profits, topping analysts' estimate. Sales of iPads slipped. But iPhone shipments increased 13 percent over a year earlier, as consumers snapped up its devices even as the next version, the iPhone 6, is expected to arrive this fall. Apple rose 16 cents, or 0.2 percent, to $94.88 in premarket trading.

BIG AIR: Early Wednesday, Boeing reported a 52 percent jump in quarterly profits beating Wall Street's estimates. The world's biggest airplane manufacturer also increased its earnings forecast for the year. Boeing's stock advanced 61 cents, or 0.4 percent, to $130.16 in early trading.

EUROPE: Major markets in Europe crept higher, extending their advances for the week. Germany's DAX added 0.5 percent, while France's CAC 40 picked up 0.4 percent. Britain'sFTSE 100 gained 0.1 percent.

BONDS AND OIL: In the market for U.S. Treasurys, the yield on the 10-year note dipped to 2.46 percent from 2.47 percent late Tuesday. Bond yields fall when prices rise. Benchmark U.S. crude oil rose 10 cents to $102.45 a barrel on the New York Mercantile Exchange.


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Source: Associated Press


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