Published July 23, 2014
Wall Street stocks were set to open modestly higher on Wednesday, though earnings from Boeing Co. and PepsiCo Inc., among others, will command investors' attention before the bell.
Reaction to results late Tuesday from Apple Inc. and Microsoft Corp. could also be seen in the premarket trading hours.
Futures for the Dow Jones Industrial Average (DJU4) rose 30 points to 17,063, while those for the S&P 500 index (SPU4) were up 3.8 points to 1,978.70. Futures for the Nasdaq-100 index (NDU4) gained 7 points to 3,957.50.
The data calendar is empty for Wednesday, leaving investors to fix their attention on corporate earnings. Reporting early, Whirlpool Corp.(WHR) posted weaker-than-expected earnings, and shares were off over 5% in thin, premarket trade.
Investors may see reaction to big tech earnings that came late Tuesday. Apple (AAPL) posted a fall in iPad sales, which weighed on shares in late trading despite the company's better-than-expected quarterly results and strong iPhone sales. Read: Apple gets patent for wearable watch dubbed the iTime
Microsoft reported a 7.1% fall in quarterly profit, disappointing Wall Street forecasters, as it took a financial hit from the purchase of Nokia Corp's (NOK) cellphone unit.
Stock futures appeared to be building on Tuesday's gains for markets. The S&P 500 (SPX) finished up 0.5%, to 1,983.56, just shy of its record closing level reached July 3.
Among other markets, the Stoxx Europe 600 index edged up 0.2% Wednesday, while Asia also logged a mostly-higher finish.
Crude oil prices (CLU4) fell ahead of key supply data, while gold prices (GCU4) edged up slightly. The dollar rose against the British pound (GBPUSD) after minutes from the Bank of England's July meeting showed all members voted to keep monetary policy loose.