MARKET SNAPSHOT: U.S. Stocks Set To Open Higher, But Nike Nosedives After Earnings

Nike and Micron move in opposite directions after quarterly results

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.

Futures for the Dow Jones Industrial Average rose by 23 points, or 0.1%, to 22,282, while those for the S&P 500 gained 4.40 points, or 0.2%, to 25,00. Futures for the tech-heavy Nasdaq-100 tacked on 15 points, or 0.3%, to 5,907.50.

On Tuesday, the Dow finished less than 0.1% lower ( That marked 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 ( appeared to subside and traders largely shrugged at Federal Reserve chief Janet Yellen's suggestion that the central bank won't dawdle while raising interest rates (

"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.

Investors are likely to watch for a major Republican announcement on tax reform ( 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% (

Individual movers: Shares in 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 ( The company also warned that weak sales in North America will continue to weigh on results in its second quarter, according to a Dow Jones Newswires report.

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 (

Other markets:The ICE U.S. Dollar Index ( was gaining, building on Tuesday's rise ( that came as Yellen reinforced expectations for another rate increase in 2017. 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 (

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

Economic data and Fed speeches: 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.

An August reading on pending home sales is due at 10 a.m. Eastern from the National Association of Realtors.

Check out:MarketWatch's Economic Calendar (

On the Fed front, Minneapolis Fed President Neel Kashkari is due to give opening remarks at a conference at his bank at 9:15 a.m. Eastern, and St. Louis Fed President James Bullard is on tap to speak at Missouri's Truman State University at 1:30 p.m. Eastern.

Fed Gov. Lael Brainard is scheduled to take part in a Kansas City Fed forum at 2 p.m. Eastern, and Boston Fed President Eric Rosengren is slated to talk at New York University at 7 p.m. Eastern.

(END) Dow Jones Newswires

September 27, 2017 07:48 ET (11:48 GMT)