Stock Futures Dip as Traders Eye Corporate Earnings

By Adam Samson Markets FOXBusiness

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U.S. stock-index futures fell slightly on Wednesday as traders analyzed earnings from a slew of big-names companies. 

Today's Markets

As of 7:48 a.m. ET, Dow Jones Industrial Average futures fell 4 points, or 0.02%, to 16456, S&P 500 futures dipped 1.8 points, or 0.11%, to 1872 and Nasdaq 100 futures declined 5.7 points, or 0.17%, to 3579.

The S&P 500 added a sixth day to its winning streak on Tuesday, leaving the broad-market barometer only 0.6% away from its all-time high. The move bellies the intense turbulence seen on Wall Street just weeks ago as high-flying momentum stocks sold off. 

On the earnings front, Boeing (BA) revealed quarterly results that flew past Wall Street's expectations, sending its shares higher.  Procter & Gamble (PG), the blue-chip consumer products giant, posted better-than-expected quarterly profits, but sales that missed analysts' views. AT&T (T) revealed a beat on the bottom line, but shares still fell. 

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Gilead (GILD), the biotech behemoth that took a beating as momentum stocks dropped, actually revealed much stronger-than-expected results. 

Apple (AAPL), the world's biggest company by market capitalization, is set to post its results after the closing bell. Facebook (FB) is also set to report its results. 

In economic news, traders will get a reading on the housing market at 10:00 a.m. ET. The Commerce Department is forecast to report the pace of sales of new, single-family homes having climbed to an annual rate of 450,000 in March from 440,000 the month prior. The construction sector took a hit from bad weather earlier in the year, and many economists are predicting a bounce-back. 

Elsewhere, U.S. crude oil futures fell $2.24, or 2.2%, to $102.13 a barrel. Wholesale New York Harbor gasoline rose 0.09% to $3.098 a gallon. Gold advanced $6.60, or 0.52%, to $1,288 a troy ounce. 




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