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 * Investors were also looking ahead to an upcoming European Central
Bank meeting, at which new stimulative measures may be announced.
* The ECB is expected to announce a bond buying program on Thursday
to boost the region's flagging economy. Market participants have
been looking for more aggressive measures of late to combat the risk
of deflation that has grown alongside a drop in oil prices. If the
ECB doesn't announce a new program, or announces a smaller one than
investors are looking for, that could exacerbate market volatility.
* Crude oil rose 0.7 percent to $46.79 per barrel, partially
rebounding off a drop of nearly 5 percent on Tuesday, though it
remains near multi-year lows. ExxonMobil Corp rose 0.7 percent to
$91.71 before the bell.
* International Business Machines Corp late Tuesday reported
lower-than-expected revenue and gave a 2015 profit target that was
below forecasts. Shares of the Dow component fell 2.6 percent to
$152.84 in premarket trading.
* Another member of the Dow, UnitedHealth Group Inc, rose 2.3
percent to $108 in light premarket trading after reporting
fourth-quarter earnings that beat expectations.
* Netflix Inc jumped 15 percent to $402 and was one of the most
actively traded Nasdaq names in premarket trade a day after the
streaming video company said it was growing faster overseas than
previously expected, a factor that was seen as offsetting slower
growth in the U.S. It also posted an adjusted profit that was much
stronger than expected.
* With 8 percent of S&P 500 companies having reported, 75 percent
have topped earnings expectations, according to Thomson Reuters
data. About 52 percent have topped on revenue.
[to top of second column] |
* Traders were also digesting President Barack Obama's State of the
Union address, delivered late Tuesday, where he struck a defiant
tone for his dealings with the new Republican-led Congress and
called on his opponents to raise taxes on the rich.
Futures snapshot at 6:54:
* S&P 500 e-minis were down 3.25 points, or 0.16 percent, with
89,548 contracts changing hands.
* Nasdaq 100 e-minis were down 8.75 points, or 0.21 percent, in
volume of 22,408 contracts.
* Dow e-minis were down 52 points, or 0.3 percent, with 16,416
contracts changing hands.
(Editing by Chizu Nomiyama)
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