AAPL Apple Inc

By Victor Reklaitis, MarketWatch , Ryan Vlastelica

Apple will be in focus ahead of new iPhone details

U.S. stock-index futures were little changed on Wednesday, suggesting stocks might continue to struggle for direction as investors continue to search for the next big catalyst for trading.

Wall Street will be looking ahead to details on Apple Inc.'s latest iPhones, which could influence the stock of the country's largest company, along with comments from Federal Reserve officials and the central bank's beige book report.

What are the main benchmarks doing?

Dow Jones Industrial Average futures dipped 12 points, or less than 0.1%, to 25,984, while S&P 500 futures slipped 2 points, or less than 0.1%, to 2,887. Nasdaq-100 futures slipped 8 points, or 0.1%, to 7,504.

On Tuesday, the Dow , S&P 500 and Nasdaq Composite closed higher Tuesday (http://www.marketwatch.com/story/us-stock-futures-stumble-as-investors-turn-cautious-amid-september-blues-2018-09-11), with energy and telecom shares helping to lead the way up.

Both the S&P and the Nasdaq have risen for two straight sessions, though that comes after a four-day decline. Recent trading has been muted, however. The S&P hasn't closed with a move of 0.5% in either direction in any session thus far this month.

So far this year, the three gauges have scored year-to-date advances that range from 5.1% to 15%, as of Tuesday's close.

Don't miss: Don't expect big stock gains for several years, Morgan Stanley warns (http://www.marketwatch.com/story/dont-expect-big-stock-gains-for-several-years-morgan-stanley-warns-2018-09-12)

What's driving markets?

Trade tensions between the U.S. and its partners have put pressure on global markets in recent months, but American equities have continued to get a boost from encouraging economic reports and companies' upbeat quarterly reports.

Investors this week have been tracking the fight between the U.S. and China in particular, as analysts warn that a full-blown trade war would hurt economic growth.

Opinion:Apple and other companies sound the alarm on Trump's China tariff plans (http://www.marketwatch.com/story/apple-and-other-tech-companies-sound-the-alarm-on-trumps-china-tariff-plans-2018-09-11)

Energy stocks could see a boost as crude-oil prices rose (http://www.marketwatch.com/story/oil-prices-rise-amid-hurricane-fears-ahead-of-opec-inventory-report-2018-09-12). Prices gained as Hurricane Florence barreled toward the East Coast, boosting demand and raising worries about disruptions to gasoline flows and pipelines in the region.

In the latest economic data, the wholesale cost of U.S. goods and services fell in August for the first time in a year and a half (http://www.marketwatch.com/story/wholesale-inflation-falls-for-first-time-in-18-months-ppi-shows-2018-09-12) as the recent upturn in inflation appeared to ease.

What are strategists saying?

"There's not any great big news to trade on, so it's likely we'll primarily be moving on headlines, which means we can be up one hour and then moving down the next," said J.J. Kinahan, chief market strategist at TD Ameritrade.

Referring to some recent weakness, Kinahan said "you have to separate a natural selloff from one driven by a real change in the market. It makes sense that we could see some selling after a remarkable year and a half, especially in areas like tech that have done well. But I don't see a tone change in the market; the numbers continue to point to a strong economy."

Which stocks are in focus?

Shares in Apple Inc.(AAPL) rose 0.6% in premarket action ahead of its event Wednesday that is expected to deliver details about its latest iPhones -- especially how much they'll cost (http://www.marketwatch.com/story/the-biggest-mystery-about-the-new-iphones-is-the-price-2018-09-08). The stock is up 1.2% this week, as of Tuesday's close, adding to its 2018 gain of 32%.

Don't miss:Here's how Apple's stock performs around iPhone launch events (http://www.marketwatch.com/story/heres-how-apples-stock-performs-around-iphone-launch-events-2018-09-12)

WellCare Health Plans Inc.'s stock (WCG) could see active trading following news that the managed-care provider will join the S&P 500 (http://www.marketwatch.com/story/wellcare-health-plans-to-be-added-to-sp-500-2018-09-11), replacing XL Group Ltd.(XL), which is being acquired French insurance giant AXA SA(CS.FR) .

Shares in T-Mobile US. Inc.(TMUS) and Sprint Corp.(S) could make moves after the Federal Communications Commission paused its 180-day clock (http://www.marketwatch.com/story/fcc-pauses-its-review-of-t-mobile-sprint-merger-2018-09-11) for reviewing the merger of the two wireless carriers.

Micron Technology Inc.(MU) fell 4.5% in premarket trading after Goldman Sachs downgraded the stock to neutral (http://www.marketwatch.com/story/micron-stock-sinks-after-goldman-sachs-downgrade-2018-09-12).

Vital Therapies Inc. (VTL) plummeted more than 80% in premarket trading after it said it is halting the development of a system (http://www.marketwatch.com/story/vital-therapies-shares-slide-86-after-biotech-says-it-will-scrap-treatment-for-liver-failure-2018-09-12) aimed at treating liver failure after a disappointing trial.

Nielsen Holdings PLC(NLSN) jumped 2.4% in premarket trading after the TV-ratings company said it expanded its previously announced strategic review (http://www.marketwatch.com/story/nielsen-expands-review-to-assess-potential-sale-of-the-company-shares-rally-2018-09-12) to assess a potential sale of the company.

Snap Inc. (SNAP) fell 4.5% in premarket trading after Jefferies analyst Brent Thill lowered his price target (http://www.marketwatch.com/story/snap-stock-sinks-after-jefferies-says-user-trends-arent-encouraging-2018-09-12) to $11 from $14, writing that user trends weren't encouraging. Separately, BTIG downgraded the stock to sell (http://www.marketwatch.com/story/snap-stock-falls-after-btig-cuts-to-sell-2018-09-12).

Wabco Holdings Inc. (WBC) said it expects its 2018 earnings to be in the lower half of a previously given outlook range (http://www.marketwatch.com/story/wabco-sees-2018-earnings-at-lower-half-of-guidance-as-geopolitical-dynamics-intensify-2018-09-12), citing trade tensions. The stock fell 3% before the bell.

Bausch Health Cos. Inc. (VRX.T) gained 8.6% in premarket trading after it reached an agreement (http://www.marketwatch.com/story/bausch-health-stock-soars-86-premarket-on-news-of-patent-settlement-2018-09-12) in a patent dispute over a treatment for irritable bowel syndrome.

Macy's Inc.(M) plans to hire about 80,000 seasonal workers for the holiday season, matching the overall hiring plans announced last year (http://www.marketwatch.com/story/macys-to-hire-80000-employees-for-the-holidays-matching-last-years-plan-2018-09-12).

Foamix Pharmaceuticals Ltd.(FOMX) shares jumped 30% before the bell. The company reported positive late-stage trial results (http://www.marketwatch.com/story/foamix-stock-surges-30-on-positive-late-stage-results-for-acne-medication-2018-09-12) for its topical acne medication

What Fed officials are scheduled to speak?

St. Louis Fed President James Bullard is due to give a speech in Chicago at 9:40 a.m. Eastern Time, and Fed Gov. Lael Brainard is expected to make remarks in Detroit at 12:45 p.m. Eastern

The central bank is slated to release its beige book at 2 p.m. Eastern.

(END) Dow Jones Newswires

September 12, 2018 09:08 ET (13:08 GMT)

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