Seeking Alpha

Stock futures pare gains, Apple disappointment weighs on techs

  • Stock futures are mostly higher but have pared some earlier gains after data showed U.S. durable goods orders taking an unexpected sharp decline.
  • S&P +0.1%, Dow +0.3%, Nasdaq -0.5%.
  • Calm in emerging market trading sessions thus far is helping to lend a positive tone, and European markets are broadly higher amid efforts by the central bank of Turkey and others to curb the recent selloffs in their currencies.
  • U.S. durable goods orders sank 4.3% in December in the biggest drop since mid-summer, largely because of fewer bookings for autos, large aircraft and military hardware; after expectations for a ~2% increase in orders, the disappointing could lead to a reduction in forecasts for Q4 GDP.
  • Well-received earnings news from Ford (+1.5%), Pfizer (+1.7%) and DuPont (+1.1%) are supporting blue-chip futures, but tech stocks are weighed by Apple's (-7.5%) disappointing results.
  • Treasuries surged off their lows in reaction to the data, and the 10-year yield is now little changed at 2.76%.
  • Still ahead: Richmond Fed, consumer confidence.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs