Stock futures rise with
focus on earnings
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[February 07, 2017]
By Yashaswini Swamynathan
stock index futures were higher on Tuesday as investors look for a steer
from a rush of quarterly earnings reports.
General Motors <GM.N> and Dow component Walt Disney <DIS.N> are among
the large-cap companies that are scheduled to report their results.
After a post-election rally that drove U.S. equities to record highs,
investors are assessing fourth-quarter earnings to see if market
valuations are justified.
Investors are also keeping a close eye on comments from President Donald
Trump and his administration, especially before a U.S. federal appeals
court hears arguments over whether to restore Trump's temporary travel
ban on people from seven Muslim-majority countries.
About 100 companies, including big tech names such as Apple <AAPL.O>,
Google parent Alphabet <GOOGL.O> and Microsoft <MSFT.O>, joined a legal
brief opposing the ban, arguing that it would give companies strong
incentives to move jobs outside the United States.
Markets have traded in a tight range amid uncertainty over Trump's
policies. The S&P 500 index <.SPX> has not moved more than 1 percent in
either direction since two months.
The Dow Jones Industrial Average <.DJI> and the Nasdaq Composite <.IXIC>
closed little changed on Monday, while the S&P fell slightly as losses
in energy companies weighed.
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A street sign for Wall
Street is seen outside the New York Stock Exchange (NYSE) in
Manhattan, New York City, U.S. December 28, 2016. REUTERS/Andrew
for Tuesday includes a report that is expected to show trade deficit remained
little changed at $45 billion in December. The report is due at 8:30 a.m. ET
Shares of Biogen <BIIB.O> rose 1.03 percent to $267.65 in premarket trading
after Citigroup upgraded the drugmaker's stocks to "buy" from "neutral".
Centene <CNC.N> was up 0.96 percent at $64.24 after the health insurer reported
better-than-expected quarterly revenue and profit.
Handbag maker Michael Kors <KORS.N> dropped 6 percent to $38.80 following a
full-year revenue forecast cut.
Futures snapshot at 6:52 a.m. ET:
Dow e-minis <1YMc1> were up 69 points, or 0.35 percent, with 17,777 contracts
S&P 500 e-minis <ESc1> were up 6.75 points, or 0.3 percent, with 91,724
Nasdaq 100 e-minis <NQc1> were up 13.75 points, or 0.27 percent, on volume of
(Reporting by Yashaswini Swamynathan in Bengaluru)
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