U.S. stock futures traded mixed on Wednesday as investors look ahead to an avalanche of blue chip earnings reports later today following Apple Inc.?s (NASDAQ: AAPL) disappointing fiscal third-quarter results while shares in Europe nudged ahead, thanks to ?European Central Bank?s (ECB) more accommodative policy stance.
At last check futures for the Nasdaq-100 edged lower 12.25 points to 2536.25, while those for the Dow Jones Industrial Average climbed up 38 points to 12562 and futures for the Standard & Poor?s 500 added 4.4 points to 1333.9.
On Tuesday, the Dow Jones Industrial Index ended in red territory for the third straight day following a report from Reuters? which that said Greece might require additional funds amounting to ?200 billion ($241.22 billion) for restructuring its economy. The DJIA ended lower 104.14 points, or 0.8%, at 12,617.32.
Elsewhere, in Asia, equities ended lower weighed by surprisingly weak results from Apple.
However, in Europe markets started strongly as ECB Governing Council member, Ewald Nowotny said in an interview to Bloomberg (published on Wednesday) that the euro zone?s proposed permanent bailout fund, the European Stability Mechanism, should be given a banking license. In case the European Stability Mechanism is granted a banking license, it would automatically provide access to ECB?s lending, increasing its reach for funding.
Moving onto U.S. economic front, a data on new homes sales for June is due at 10 a.m. Eastern.
Earnings season continue with likes of PepsiCo. (NYSE: PEP), Ford Motor Company (NYSE: F), Caterpillar Inc. (NYSE: CAT) and Boeing Co. (NYSE: BA) expected to announce quarterly earnings before the morning bell ring.
In some other markets, gold futures for August delivery gained nearly $13 to $1,588.90 an ounce, as the euro recovered some lost ground against the dollar. Crude-oil futures for September delivery added 19 cents to trade at $88.69 a barrel.
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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht. |
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