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US STOCKS-Futures edge up on earnings from Dow components
2013年7月23日 / 下午12点32分 / 4 年前

US STOCKS-Futures edge up on earnings from Dow components

* China signals support for growth, boosts global shares

* Dow components Travelers, DuPont shares up following results

* Apple due to report after the bell

* Futures up: Dow 43 pts, S&P 3.2 pts, Nasdaq 7 pts

By Angela Moon

NEW YORK, July 23 (Reuters) - U.S. stock index futures rose on Tuesday, helped by solid earnings from blue-chips Dupont and Travelers and by China’s efforts to avoid a hard landing for its slowing economy.

With earnings season in full swing, Apple Inc is due to report after the closing bell. Apple shares were up 0.2 percent at $427.30 in premarket trade.

U.S. insurer Travelers Cos Inc posted an 85 percent rise in quarterly profit, helped by lower disaster losses. The stock jumped 3 percent to $88 in premarket trade.

Chemical maker Dupont, also a Dow component, said it was looking to sell or spin off its performance chemicals unit to insulate itself from flagging sales of paint pigments that have weighed on profits. The stock was up 2.7 percent at $58.71 in premarket trade.

“We are seeing a couple of dynamics taking place right now, pushing the market to all-time highs. We have a strong start to the earnings season, the market likes round numbers and we happen to be just a short breath away from 1,700 (on the S&P 500),” said Andre Bakhos, director of market analytics at Lek Securities in New York.

“The stock market is seen as the only real game in town where you can catch returns.”

S&P 500 futures rose 3.2 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 43 points, and Nasdaq 100 futures added 7 points.

Among decliners, Netflix Inc shares fell 5.2 percent to $248.38 in premarket trade, a day after the online-entertainment firm reported that its show “Arrested Development” lured new subscribers in the second quarter but not enough to impress investors.

United Parcel Service Inc posted a smaller quarterly profit as customers, especially on international routes, chose slower, cheaper shipping services.

The S&P 500 closed at a third straight all-time high on Monday, with other major indexes also gaining, despite disappointing results from McDonald‘s. The S&P 500 is up 19 percent so far this year.

China will stick to its prudent monetary policy but will take decisive measures to support reasonable infrastructure and social welfare investment as well as developing the export sector, service industry and small firms, China’s Vice Premier Zhang Gaoli was quoted on Monday as saying.

European shares climbed in early trade on Tuesday, hitting seven-week highs with a flurry of deal activity sparking a sharp rally in the telecoms sector.

China shares listed in Hong Kong posted their biggest rise in nearly seven months on Tuesday.

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