FOX Business: Capitalism Lives Here
Stock-index futures indicated the tech-heavy Nasdaq could open higher by more than 1% after heavyweights Apple and Facebook revealed strong quarterly results.
As of 8:20 a.m. ET, Dow Jones Industrial Average futures climbed 30 points, or 0.18%, to 16490, S&P 500 futures rose 7 points, or 0.37%, to 1880 and Nasdaq 100 futures rallied 52.3 points, or 1.5%, to 3606.
The heavy selloff on the Nasdaq two weeks ago seems quaint now as the index rebounds. Apple (AAPL), the world's biggest tech company, posted stronger-than-expected quarterly results and boosted its dividend. Its shares jumped more than 7%, and are likely to help send the Nasdaq sharply higher. Facebook (FB), the world's biggest social network, also weighed in with a beat.
United Parcel Service (UPS), the shipping giant that is also seen as an economic bellwether, posted a quarterly miss, blaming "unusually harsh weather."
Traders will also get a duo of economic reports. Economists expect 310,000 people to have filed for first-time jobless benefits last week, up from 304,000 the week prior. Meanwhile, orders for long-lasting goods are forecast to have jumped 2% in March on a month-to-month basis.