By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- U.S. stock futures pointed to soft gains
on Wednesday, with the S&P 500 poised to stay above 2,000 a day
after it closed above that milestone for the first time.
With no major economic reports on tap, earnings reports from
Tiffany & Co. and Express Inc. will instead be in focus.
Futures for the Dow Jones Industrial Average (DJU4) rose 15
points, or 0.1%, to 17,112, while those for the S&P 500 index
(SPU4) added 1.1 point, or 0.1%, to 1,999.70. Futures for the
Nasdaq 100 index (NDU4) gained 3.25 points, or 0.1%, to
4,075.50.
The gains came after modest increases on Tuesday, when a
stronger-than-expected reading on consumer confidence provided a
lift to the stock benchmarks.
"U.S. markets remain undaunted by the dizzying highs they're
currently standing at and futures are suggesting there's more gains
to be seen at the open," said Joao Monteiro, analyst at Valutrades,
in a note. "Ahead of the open we're calling the Dow up 20 at 17,127
and the S&P up 2 at 2,002."
Economic data: No major economic reports are scheduled. Later in
the week, however, the data calender gets busier, with the second
estimate on second-quarter U.S. gross domestic product on Thursday
and the Chicago PMI and consumer-confidence numbers due Friday.
Earnings: Tiffany & Co. (TIF) releases earnings ahead of the
open as is forecast to report a profit of 85 cents per share on
revenue of $987.5 million. Tiffany shares were up 1.6% ahead of the
report in premarket trade.
Also ahead of the open, Express Inc. (EXPR) is expected to break
even on quarterly revenue of $457.7 million, according to analysts
surveyed by FactSet, while Michaels Cos. Inc. (MIK) is expected to
report a profit of 8 cents per share on revenue of $942.9
million.
Solar-energy company Yingli Green Energy Holding Co. Ltd. (YGE)
is forecast to report a 14 cent loss on revenue of $587.9
million.
Other markets: European stock markets seesawed around the flat
line, after closing at the highest level in August on Tuesday. Most
of Asia ended higher on Wednesday, although the Hang Seng Index
lost 0.6%.
Crude-oil prices (CLV4) advanced ahead of the latest inventory
data from the U.S. Energy Information Administration. Metals prices
were mixed, with gold (GCZ4) and silver (SIU4) higher, but copper
(HGU4) in the red.
The dollar (DXY) declined against most rivals.
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