Translate

Search This Blog

Search Tool




Asian Markets at Close Report

European Markets at Close Report

Jan 25, 2017

U.S. Stock Market Future Indications - January 25, 2017: Dow Stays on Path to 20,000 Milestone Ahead of Key Earnings

marketwatch.com
 
Sara Sjolin
 
U.S. stocks were set for another upbeat trading day on Wednesday, with the Dow Jones Industrial Average looking to open within arms reach of the psychologically-important 20,000 level.

Futures for the blue-chip benchmark YMH7, +0.31%  rose 53 points, or 0.3%, to 19,897, setting it on track for a second straight day of gains. The index on Tuesday jumped 113 points and closed less than 90 points shy off the elusive milestone after a solid round of corporate earnings boosted investor confidence.
Results from Dow components United Technologies Corp. UTX, +1.15%   and Boeing Co. BA, +1.72%   due before the Wednesday’s market open will be closely watched for any clues if they can help steer the benchmark closer to the 20,000 handle.
Futures for the S&P 500 index ESH7, +0.27%  added 5.15 points, or 0.2%, to 2,279.75, while those for the Nasdaq-100 index NQH7, +0.40%  gained 17 points, or 0.3%, to 5,113.25. Both indexes closed at all-time highs on Tuesday, with the S&P 500 index SPX, +0.66%  helped by a sharp move higher in the basic resource sector after President Donald Trump signed an executive order to revive the construction of the Keystone XL and Dakota pipelines.
Earnings updates: Shares of Alcoa Corp. AA, +3.33%  jumped 4% ahead of Wednesday’s open after the aluminium giant late Tuesday posted an upbeat forecast for 2017 aluminium demand.
Texas Instruments Inc. TXN, +1.78%  inched up 0.3% before the bell after late Tuesday reporting a rise in profit and sales for the fourth quarter.
Looking ahead to Wednesday’s earnings, aside from United Technologies and Boeing, Freeport-McMoRan Inc. FCX, +8.27%  is also slated to report premarket. And after the closing bell, AT&T Inc. T, -1.52%  , Qualcomm Inc. QCOM, +0.22%  and eBay Inc. EBAY, -0.93%  are on the earnings docket.
Other movers and shakers: Auto makers were among premarket advancers on Wednesday, set to add to gains from Tuesday when Trump told bosses of three Detroit car manufacturers he will work to ease environmental regulations and cut corporate taxes.
Trump pushes car makers to stay in the U.S.
President Donald Trump met with auto executives at the White House Tuesday, promising to reduce unnecessary regulations and warning them about moving business overseas. Photo: Getty
General Motors Co. GM, +0.95%  added 1.6% ahead of the bell, Ford Motor Co. F, +2.44% gained 0.7% and U.S.-listed shares of Fiat Chrysler Automobiles NV FCAU, +5.84%  picked up 1.9%.
There are no major economic releases on deck for Wednesday and no Federal Reserve speakers as the central bank is in its blackout period ahead of its policy-setting meeting next week.
Other markets: Stocks in Asia closed higher across all major markets and Europe SXXP, +1.00%   followed the upbeat mood and opened in positive territory.
Oil prices CLH7, -0.92% LCOH7, -0.90%  moved firmly lower ahead of key supply data from the U.S.
Metals prices GCG7, -0.59%  also dropped, while the dollar DXY, -0.20%  fell against most other major currencies.