U.S. Market Futures Lower after Apple’s Earnings Report

U.S. stock futures are pointing lower in pre-market trading for Wednesday, October 26. The Dow Futures are at 18019.0 for a loss of -78.00 points. The S&P 500 Futures are at 2129.75 for a loss of -8.25 points. The Nasdaq Futures are lower at 4860.0 for a loss of -26.00 points. The Russell Futures are at 1207.2 for a loss of -6.90 points.

In overnight trading in the Eastern Hemisphere, Japan’s Nikkei 225 is at 17391.84 for a gain of 26.59 points or 0.15 percent. Hong Kong’s Hang Seng is at 23325.43 for a loss of -239.68 or -1.02 percent. China’s Shanghai Composite Index is at 3116.31 for a loss of -15.63 points or -0.50 percent. India’s S&P BSE Sensex is at 27836.51 for a loss of -254.91 points or -0.91 percent. In Europe, the FTSE 100  is at 6956.67 for a loss of -60.97 points or -0.87 percent. Germany’s DAX is at 10646.97 for a loss of -110.34 points or -1.03 percent. France’s CAC 40 is at 4504.97 for a loss of -35.87 points or -0.79 percent. The Stoxx Europe 600 is at 340.47 for a loss of -2.60 points or -0.76 percent.

Wednesday’s Factors and Events

Stock futures are pointing lower in pre-market trading after Apple reported positive earnings but said it may not have the inventory to meet the high demand for its new iPhone 7.

On the economic calendar Wednesday are the following reports: MBA Mortgage Applications, International Trade in Goods, PMI Services Flash, New Home Sales and the EIA Petroleum Status Report.

Stocks trading actively in the pre-market include the following:

Fortune Brands Home

Waters Corp

Southwestern Energy

NRG Energy Inc

Sherwin-Williams

Hewlett Packard Enterprises

Ryder System

KeyCorp

Lockheed Martin Corp

Valero Energy

Over 200 companies will report earnings on Wednesday. Boeing and Coca-Cola will report earnings from the Dow Jones Industrial Average.

Tuesday’s Activity

U.S. market indexes were lower Tuesday. For the day the Dow Jones Industrial Average closed at 18169.27 for a loss of -53.76 points or -0.30 percent. The S&P 500 closed at 2143.16 for a loss of -8.17 points or -0.38 percent. The Nasdaq Composite closed at 5283.40 for a loss of -26.43 points or -0.50 percent.

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Source: DJIA, S&P 500 and Nasdaq Composite. Google Finance.

Other notable index closes included the small-cap Russell 2000 Index at 1216.10 for a loss of -10.34 points or -0.84 percent; the S&P 600 Small-Cap Index closed at 732.70 for a loss of -7.08 points or -0.96 percent; the S&P 400 Mid-Cap Index at 1522.66 for a loss of -12.08 points or -0.79 percent; the S&P 100 Index at 952.80 for a loss of -1.90 points or -0.20 percent; the Russell 3000 Index at 1266.56 for a loss of -5.86 points or -0.46 percent; the Russell 1000 Index at 1186.79 for a loss of -5.12 points or -0.43 percent; and the Dow Jones U.S. Select Dividend Index at 600.90 for a gain of 0.11 points or 0.02 percent.

Julie Young

julie@dowfutures.org

Julie Young is a Senior Market Reporter and Analyst

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