Dow futures rise on better-than-expected earnings

Dow Jones Industrial Average futures pointed to a higher open for the 30-stock index on Tuesday as some of the major U.S. companies reported strong quarterly results.

The Dow was headed for a 30-point gain at Tuesday’s open. S&P 500 and Nasdaq 100 futures pointed to a flat open.

Dow members Coca-Cola and United Technologies reported better-than-expected quarterly earnings on Tuesday. Their shares rose 3.5% and 2.8%, respectively, in the premarket. Procter & Gamble also posted stronger-than-forecast earnings, but its stock traded down 0.1%.

Twitter shares jumped nearly 8% on its stronger-than-expected results. The social media company said its monthly active users totaled 330 million, more than a FactSet estimate of 318 million.

Texas Instruments, eBay and Stryker are set to release their latest quarterly results after market close.

Wall Street also kept an eye on oil prices as they hit their highest level this year amid intensifying concern about global supplies. It comes after the U.S. announced a further clampdown on Iran’s oil exports.


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The world’s largest economy said Monday that from May 1, it would eliminate all waivers allowing eight economies to buy Iranian oil without facing U.S. sanctions.

International benchmark Brent crude traded at $74.25 Tuesday morning, up around 0.3%, while U.S. West Texas Intermediate (WTI) stood at $65.94, almost 0.6% higher.

On the data front, the latest Philadelphia Fed non-manufacturing survey and FHFA Housing Price Index for February will be published during early morning deals. New home sales for March and the Richmond Fed survey for April will both be released at around 10:00 a.m. ET.

Source: cnbc.com | Original Link

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