Stock futures mixed ahead of opening

[April 21, 2010]  NEW YORK (AP) -- Stock futures were mixed Wednesday, with Nasdaq futures rising after strong earnings from Apple boosted the technology sector.

Dow Jones industrial average and Standard & Poor's 500 futures were both modestly lower.

With little economic data released early this week, investors have focused on earnings to drive trading. Better-than-expected results across many sectors has helped push stocks higher the past two days.

Apple Inc.'s earnings easily topped expectations thanks to record sales of iPhones. Apple was the latest in a growing string of technology companies to report improving profit as the economy recovers from recession. Intel Corp. and IBM Corp. were among other technology companies to report sales helped boost quarterly profit.

The strong results from Apple helped boost the broader technology sector.

Ahead of the opening bell, the tech-heavy Nasdaq 100 index futures rose 6.25, or 0.3 percent, to 2,030.50. Dow Jones industrial average futures fell 23, or 0.2 percent, to 11,051, while Standard & Poor's 500 index futures fell 1.30, or 0.1 percent, to 1,204.10.

Apple shares rose $12.91, or 5.3 percent, to $257.50 in pre-opening trading.

Earnings will continue to be the primary focus of investors with plenty more companies announcing results. Investors will be able to get insight into the health of many sectors, with earnings from companies including AT&T, McDonald's Corp., Morgan Stanley, Wells Fargo & Co. and Starbucks Corp. due to be released throughout the day.

Investors will try to continue this week's winning streak. Major indexes advanced again Tuesday, with the Dow rising 25 points. It was the Dow's eighth gain in the past nine trading sessions. Harley-Davidson Inc., industrial equipment maker Illinois Tool Works Inc., and regional bank Marshall & Ilsley Corp. all gained after upbeat earnings.

Goldman Sachs Group Inc. reported better-than-expected profit as well, but its shares dipped because of ongoing concerns around civil fraud charges the bank faces tied to its subprime mortgage securities business.

A rebound in oil prices after a nearly two-week slide helped the energy sector and the broader market as well.

Oil rose again Wednesday. Gold was also higher as the dollar fell against other major currencies.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was unchanged at 3.80 percent compared late Tuesday.

Overseas, Britain's FTSE 100 fell 0.4 percent, Germany's DAX index rose 0.1 percent, and France's CAC-40 dropped 0.2 percent. Japan's Nikkei stock average rose 1.7 percent.

[Associated Press; By STEPHEN BERNARD]

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