By Carla Mozee and Sara Sjolin, MarketWatch
McDonald's, Coca-Cola climb premarket after results
U.S. stock index futures inched higher Wednesday as investors
zoomed in on quarterly figures from three Dow components, including
adjusted profit from McDonald's Corp. that beat forecasts, as well
as an economic report on the housing market.
Futures for Dow Jones Industrial Average (YMM5) were last up 41
points, or 0.2%, to 17,920, bouncing back from early losses, while
those for the S&P 500 (ESM5) gained 4 points, or 0.2%, to
2,095. Futures for the Nasdaq Composite (NQM5) tacked on 12.25
points, or 0.3%, to 4,440.75.
Investors are keyed into corporate earnings as a guide to the
health of the U.S. economy amid one of the busiest weeks for
companies to roll out quarterly results. Ahead of the bell, Dow
components McDonald's (MCD), Coca-Cola (KO) and Boeing (BA) all
posted better-than-expected earnings.
Stock-index futures were seeing "consolidation ahead of more
earnings results," said Fawad Razaqzada, technical analyst at
Forex.com. "The S&P 500 has been touching this bearish trend
line around 2,110...so the market is just waiting to see how the
rest of the U.S. earnings will be like before deciding to push
higher."
More big names will report after the close of trading, including
Facebook Inc. (FB) and eBay Inc. (EBAY).
On Tuesday
(http://www.marketwatch.com/story/us-stocks-futures-climb-ahead-of-trio-of-dow-earnings-2015-04-21),
the S&P 500 (SPX) and the Dow Jones Industrial Average (DJI),
fell 0.2% and 0.5%, respectively. But gains for biotech stocks
helped pushed the Nasdaq Composite (RIXF) up 0.4% to 5,014.10.
Wednesday's key economic reports: At 10 a.m. Eastern, the
National Association of Realtors will release figures on sales of
existing homes in March, with economists polled by MarketWatch
expecting a seasonally adjusted rate of 5.08 million.
Individual movers: McDonald's gained premarket after its
adjusted quarterly profit topped expectations
(http://www.marketwatch.com/story/mcdonalds-reports-steeper-profit-fall-2015-04-22),
and as the fast-food giant embarks on a turnaround.
Coca-Cola posted better-than-expected profit
(http://www.marketwatch.com/story/cokes-results-top-expectations-2015-04-22-74854226)
and revenue in the first quarter, helping send its shares up ahead
of the bell. Boeing'sfirst-quarter earnings also beat forecasts
(http://www.marketwatch.com/story/boeing-profit-beats-estimates-sales-fall-short-2015-04-22),
with results boosted by buoyed by strong commercial-jet demand, but
shares dipped.
Angie's List (ANGI) shares jumped as much as 18% premarket after
the company, which operates a website that allows users to review
local businesses, said it swung to a profit in the first quarter
(http://www.marketwatch.com/story/angies-lists-stock-jumps-after-company-swings-to-surprise-profit-2015-04-22).
After the bell, Facebook(FB) is expected to report first-quarter
earnings
(http://www.marketwatch.com/story/what-to-expect-from-facebooks-earnings-2015-04-21)
of 41 cents a share, and eBay(EBAY) is likely to say first-quarter
earnings were 70 cents a share.
Read more about Wednesday's jumpiest stocks in the Movers &
Shakers column
(http://www.marketwatch.com/story/facebook-mcdonalds-coca-cola-in-focus-wednesday-2015-04-22)
Other markets: Japan's Nikkei stock index closed above 20,000
(http://www.marketwatch.com/storyno-meta-for-guid) for the first
time in 15 years, and Hong Kong-listed stocks finished higher.
European stocks (http://www.marketwatch.com/storyno-meta-for-guid),
meanwhile, were pulling back.
Oil (CLM5) was little changed, remaining above $56 a barrel.
Gold futures (GCK5) fell, while the ICE dollar index (DXY) was
roughly flat.
Sara Sjolin in London contributed to this article.
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