US Futures Point to Higher Open as Data May Steer Fed to Delay Tapering

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US stock futures were slightly higher amid a slew of economic data that may influence the Fed in its thinking toward slowing down the $85-billion-a-month asset purchasing program.

In economic data, retail sales slipped 0.1% in September compared to estimates for sales to be flat while the September producer price index for finished goods fell 0.1%, seasonally adjusted. Meanwhile an S&P/Case Shiller report showed that home prices rose again in August. Later, at 10 a.m. the consumer confidence index is expected to show a decline.

In equities, Apple rose 0.38% in pre-market trade after reporting better-than-expected revenue and EPS driven by strong growth in iPhone sales although iPad shipments were a little light compared to the analyst expectations. Also reporting today was Goodyear Tire ( GT ), slipping 3.31% pre-bell as revenue missed estimates.


U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.02%

-S&P 500 futures up 0.13%

-Nasdaq 100 futures up 0.08%

-Nasdaq-100 Pre-Market Indicator up 0.22%

GLOBAL SENTIMENT

Nikkei down 0.49%

Hang Seng up 0.18%

Shanghai Composite down 1.23%

FTSE-100 up 0.54%

DAX-30 up 0.19%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: higher

(+/-) Chip stocks: mixed

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+/-) Drug stocks: mixed

(+) Financial stocks: higher

(+) Retail stocks: higher

(+) Industrial stocks: higher

(+) Airlines: higher

(+) Autos: higher

UPSIDE MOVERS

(+) NOK (+7.70%) Reports lower Q3 revenue but swings to profit

(+) BP (+4.14%) Q3 profit tops expectations, raises dividend

(+) KORS (+3.27%) Will join S&P 500 after market close on Nov. 1, replacing NYX

(+) ACT (4.01%) Guides Q4, FY13, FY14 EPS above street views

DOWNSIDE MOVERS

(-) PFE (-0.62%) Q3 sales shy of views, sees FY at lower end of guidance

(-) VOLC (-17.73%) Sees Q3, FY below expectations

(-) SLG (-1.99%) Plans sale of 2.6 million shares

(-) X (-1.79%) Posts Q3 loss and weaker-than-expected revenues



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: GT

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