MARKET SNAPSHOT: Dow Set To Rise, But Nike Tumbles After Earnings

By FeaturesDow Jones Newswires

Investors await details of Republican tax overhaul proposal

U.S. stock futures on Wednesday pointed to a small rise at the open, as analysts said the market is stabilizing after a four-session skid for the Dow industrials.

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What are stock-index futures doing?

Futures on the Dow Jones Industrial Average are 23 points, or 0.1%, higher at 22,282. S&P 500 futures are up 4.40 points, or 0.2%, at 2,500. Nasdaq-100 futures are 14.50 points, or 0.3%, higher at 5,907.

What are market participants saying?

"Wall Street has started to form some support once more, with the S&P 500 closing all but flat at 2,497," said Richard Perry, a Hantec Markets analyst, in a note Wednesday.

On Tuesday, the Dow finished less than 0.1% lower (, marking its fourth down day in a row, leaving it 0.6% below its record close hit a week ago. The S&P and Nasdaq Composite both closed slightly higher Tuesday, as North Korea-related fears ( abated.

What's driving the market?

Federal Reserve Chairwoman Janet Yellen said the central bank won't dawdle while raising interest rates (

What are investors watching out for today?

A major Republican announcement on tax reform ( is promised for Wednesday.

Read more:Wilbur Ross says tax reform could boost economy by 1% (

And see:GOP tax plan to allow for top individual rate above 35% (

Which stocks is Wall Street following?

Nike Inc.(NKE) fell 4% in premarket action after the sneakers giant late Tuesday posted fiscal first-quarter earnings that beat forecasts, but its revenue was slightly below expectations (

Shares in Micron Technology Inc.(MU) rose 6% premarket after the chip maker reported better-than-expected earnings late Tuesday (

See:Micron reassures investors that memory-chip demand remains very high (

What are other assets doing?

The ICE U.S. Dollar Index ( was gaining, building on Tuesday's rise ( (

Gold futures ( lost ground, while oil futures ( were little changed.

European stocks ( rose, and Asian markets closed mixed (

Don't miss:The stock sector that has been 2017's big loser became a big winner this month (

Read:Here's why value stocks are starting to outperform growth (

What are the data?

An August figure for durable goods orders is slated to arrive at 8:30 a.m. Eastern Time, with economists polled by MarketWatch forecasting 1% growth. Pending home sales for August are due at 10 a.m. Eastern from the National Association of Realtors. Expectations are for a decline of 0.8%.

Check out:MarketWatch's Economic Calendar (

Which Fed speakers are tap Wednesday?

(END) Dow Jones Newswires

September 27, 2017 08:18 ET (12:18 GMT)