Stock Market Watch

Stocks Futures Boosted From Apple Earnings

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U.S. stocks futures were gaining on Wednesday as market sentiment was lifted by strong earnings from Apple Inc. (NASDAQ: AAPL) yesterday even as expectations are on that the Federal Reserve may provide some hint on further quantitative easing measures after its monetary policy meeting ends later today.

While futures on the Dow Jones Industrial Average were adding 65 points, or 0.5%, to 13,024, S&P 500 Index futures were advancing 9.8 points, or 0.7%, to 1,379.90, at last check.


Nasdaq 100 futures also climbed up 51.5 points, or 1.9%, to 2,684.

Meanwhile, equity markets around the world rebounded on Wednesday as strong earnings from Wall Street, easing concerns over debt crises in the euro-zone lifted the market sentiment.

On U.S. economic news front, the economic calendar features data on March durable goods orders is expected to be released at 8:30 a.m. Eastern.

The Fed is expected to announce its rate decision at 12:30 p.m. Eastern. The committee’s report on quarterly growth, employment and interest-rate forecast is due at 2 p.m., followed by Bernanke’s news conference at 2:15 p.m.

Commenting over FOMC, strategist at Barclays Capital wrote in their note, “We expect two issues to emerge from today’s FOMC meeting and press conference: A somewhat softer economic outlook and a slightly more hawkish policy stance, both of which would likely have negative implications for equities”.

Some high profile earnings reports are due on Wednesday. Aircraft manufacturer Boeing Co. (NYSE: BA), construction-equipment maker Caterpillar Inc. (NYSE: CAT), telecom provider Sprint Nextel Corp. (NYSE: S) and few more heavyweights are scheduled to report results later today.

Shares that are likely to trade actively on Wednesday are Apple and Juniper Inc. (NYSE: JNPR). Apple shares gained 10% in today’s Frankfurt trading as the company announced after yesterday’s closing bell ring that its earnings leaped 93% for March quarter.

Juniper Networks although reported a drop in earnings on Tuesday, the numbers were better than expectations. Shares gained at the end of Tuesday’s trading session after results were apparently made public ahead of schedule.

 

 

 

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edliston
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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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.

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