Warning: Use of undefined constant REQUEST_URI - assumed 'REQUEST_URI' (this will throw an Error in a future version of PHP) in C:\xampp\htdocs\mbc1\wp-content\themes\jannah4\functions.php on line 73
Dow Futures Achieve Amid Coronavirus Concern as Traders Look to Apple Earnings To Kick-Begin … – jj
rss

Dow Futures Achieve Amid Coronavirus Concern as Traders Look to Apple Earnings To Kick-Begin …

[ad_1]

The Tuesday Market Minute

  • Global stocks mixed as coronavirus concerns continue to hammer stocks in Asia, while, U.S. and European markets key on earnings — and Apple — as quarterly reporting kicks into high gear.
  • China will extend Lunar New Year closures in some cities, including Shanghai, until February 9 as the death toll from the virus rises to 106 and the number of confirmed cases surges to 4,500. 
  • Hong Kong to suspend high-speed rail service to mainland, travel permits and reduce flights as of January 30.
  • Apple will publish its first quarter earnings after the close of trading today, with investors looking for a bottom line of $4.54 per share on revenues that could reach $88.4 billion.
  • U.S. equity futures suggest an opening bell rebound on Wall Street ahead of durable goods orders at 8:30 am, consumer confidence data at 10:00 am and earnings from United Technologies, 3M, Lockheed Martin and Harley-Davidson before the start of trading.  

U.S equity futures look set to rebound firmly Tuesday as investors prepare for a series of bluechip corporate earnings, highlight by an after-the-bell update from Apple (AAPL) – Get Report, that could temporarily shift the market’s focus from the still-concerning spread of the deadly coronavirus in Asia.

Futures pared some of those early-session gains, however, after Hong Kong leader Carrie Lam said she would suspend high speed rail travel from the China-controlled city to the mainland, while reducing flights and limiting individual travel permits, as part of the territory’s efforts to hold the spread of the virus at bay.

Apple, the world’s most valuable tech sector and perhaps the key directional driver for broader U.S. markets, is expected to post first quarter earnings of $4.54 per share on sales of around $88.4 billion. Investors will also be looking for the iPhone maker’s near-term sales outlook and the impact that 5G network rollouts will have on handset sales in the coming year.

With notable industrial stocks such as Lockheed Martin (LMT) – Get Report, United Technologies (UTX) – Get Report and 3M Co (MMM) – Get Report reporting before the opening bell, Tuesday’s session, and indeed much of this week’s trading, is likely to be dominated by both corporate earnings outlooks and the Federal Reserve’s interest rate decision on Wednesday afternoon.

[ad_2]
Source link

Tags

Related Articles

Leave a Reply

Back to top button
Close