U.S. Market Futures Pointing Higher with Positive Momentum

U.S. stock futures are pointing higher in pre-market trading for Wednesday, September 28. The Dow Futures are at 18149.0 for a gain of 10.00 points. The S&P 500 Futures are at 2153.0 for a gain of 0.25 points. The Nasdaq Futures are at 4863.25 for a gain of 2.50 points. The Russell Futures are at 1243.8 for a loss of -0.20 points.

In overnight trading in the Eastern Hemisphere, Japan’s Nikkei 225 is at 16465.40 for a loss of -218.53 points or -1.31 percent. Hong Kong’s Hang Seng is at 23619.65 for a gain of 47.75 points or 0.20 percent. China’s Shanghai Composite is at 2987.86 for a loss of -10.31 points or -0.34 percent. India’s S&P BSE Sensex is at 28292.81 for a gain of 69.11 points or 0.24 percent. In Europe, the FTSE 100 is at 6860.43 for a gain of 52.76 points or 0.78 percent. Germany’s DAX is at 10466.25 for a gain of 104.77 points or 1.01 percent. France’s CAC 40 is at 4445.21 for a gain of 46.53 points or 1.06 percent. The Stoxx Europe 600 is at 343.05 for a gain of 2.86 points or 0.84 percent.

Wednesday’s Factors and Events

Stocks are pointing higher continuing positive momentum from Tuesday. On the economic calendar for Wednesday are the following reports: MBA Mortgage Applications, Durable Goods Orders and the EIA Petroleum Status Report. Investors will also be watching fed speeches from Neel Kashkari, Janet Yellen, James Bullard, Charles Evans, Loretta Mester and Esther George on Wednesday.

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

Southwestern Energy

Devon Energy

Edison International

PG&E

HCP

Time Warner

First Solar

Southwest Airlines

HP Inc.

Royal Caribbean Cruises

Investors will be watching oil prices and OPEC on Wednesday as the organization concludes its meeting in Algeria. Investors will also begin preparing for third quarter earnings after Dow Jones Industrial Average company Nike reported its quarterly results Tuesday. Revenue and earnings beat estimates. Revenue was $9.06B beating by $190.0M and increasing 8 percent from the comparable quarter. Earnings per share of $0.73 beat by $0.17.

Tuesday’s Activity

U.S. market indexes were higher on Tuesday. For the day the Dow Jones Industrial Average closed at 18228.30 for a gain of 133.47 points or 0.74 percent. The S&P 500 Index closed at 2159.93 for a gain of 13.83 points or 0.64 percent. The Nasdaq Composite closed at 5305.71 for a gain of 48.22 points or 0.92 percent.

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

Other notable indexes included the small-cap Russell 2000 Index closing at 1246.38 for a gain of 5.44 points or 0.44 percent; the S&P 600 Small-Cap Index closing at 751.34 for a gain of 1.26 points or 0.17 percent; the S&P 400 Mid-Cap Index closing at 1544.28 for a gain of 1.76 points or 0.11 percent; the S&P 100 at 955.65 for a gain of 6.89 points or 0.73 percent; the Russell 3000 at 1279.64 for a gain of 7.33 points or 0.58 percent; the Russell 1000 at 1197.64 for a gain of 7.00 points or 0.59 percent; and the Dow Jones U.S. Select Dividend Index at 614.33 for a loss of -0.34 points or -0.06 percent.