By Barbara Kollmeyer, MarketWatch
LONDON (MarketWatch) -- U.S. stock markets were set to open
higher on Wednesday, as earnings from Boeing Co. and PepsiCo Inc.
propel gains and Microsoft Corp. and Apple Inc. lift the Nasdaq 100
index.
Futures for the Dow Jones Industrial Average (DJU4) rose 19
points to 17,052, while those for the S&P 500 index (SPU4) were
up 3.5 points to 1,978.40. Futures for the Nasdaq-100 index (NDU4)
gained 14.50 points to 3,965.00.
The data calendar is empty for Wednesday, leaving investors to
fix their attention on corporate earnings. Boeing (BA) climbed 1.7%
in premarket trade after the plane manufacturer lifted its core
earnings-per-share outlook for 2014.
PepsiCo (PEP) picked up 2.2% ahead of the bell after the
company's second-quarter profit beat estimates and it lifted
earnings guidance.
Delta Air Lines Inc. shares (DAL) climbed 1.3% after the company
reported second-quarter profit per share that was in line with
expectations and sales that barely missed forecasts.
Whirlpool Corp.(WHR) posted weaker-than-expected earnings, and
shares were off over 6.1% in premarket trade.
After the close, earnings from Facebook Inc. (FB) and AT&T
Inc. (T) will be among the highlights.
Investors also saw reaction to big tech earnings that came late
Tuesday. Apple (AAPL) shares climbed 1% in premarket action after
earnings that topped expectations. Also read: 5 reasons why Apple
shares could rise another 16% this year.
Microsoft shares climbed 2.1% ahead of the market open after an
analyst's upgrade. The company late Tuesday 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 0.3%
Wednesday, while Asia also logged a mostly-higher finish.
Crude oil prices (CLU4) rose ahead of key supply data, while
gold prices (GCU4) edged up slightly. The dollar rose against the
British pound (GBPUSD)(GBPUSD) after minutes from the Bank of
England's July meeting showed all members voted to keep monetary
policy loose.
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