Investing.com – U.S. stock futures pointed to a higher open on Tuesday, as a flurry of better-than-expected corporate earnings reports from bellwethers like Ford, UPS and 3M Company lifted market sentiment, while the Federal Reserve was to begin its two-day policy meeting later in the day.
Dow Jones Industrial Average futures pointed a gain of 0.35%, the S&P 500 futures climbed 0.38%, while Nasdaq 100 futures indicated an increase of 0.32%.
The second largest U.S. automaker Ford saw shares jump 3.1% in pre-market trade after it reported its largest first quarter profit in 13 years, driven by strong sales in the U.S. and increased demand for fuel efficient vehicles.
Shares in industrial and consumer goods conglomerate 3M Company climbed 2.9% after it said first quarter revenue jumped 13% to a first quarter record of USD7.31 billion. The company hiked its earnings outlook for the second quarter, citing increasing demand in emerging markets.
The world’s largest package delivery company United Parcel Service saw shares gain 1.7% after it reported a 66% jump in first quarter profit to USD885 million. "UPS produced strong first quarter results despite rapidly rising fuel costs and challenging weather conditions," the company said in a statement.
However, Coca Cola saw shares slump 1.5% after the company reported first-quarter profit and revenue below market expectations. The world’s largest beverage company said revenue came in at USD10.52 billion, short of expectations for revenue of USD10.58 bllion.
Meanwhile, online video-streaming giant Netflix saw shares tumble 5.4% after it lowered its second quarter earnings outlook, citing expectations for reduced DVD shipments and increased spending on streaming content.
Shares in business-software firm Oracle slipped 0.75% after it announced late Monday that Chief Financial Officer Jeff Epstein had resigned, effective immediately, and that co-President Safra Catz would assume the additional CFO responsibilities.
Other stocks in focus included online retail giant Amazon.com and semiconductor manufacturer Broadcom, which were both expected to release earnings after Tuesday’s closing bell.
In total, two Dow Industrial Average components and 23 S&P 500 companies are scheduled to release results today.
Across the Atlantic, European stock markets advanced as shares in the financial sector were boosted by strong earnings from Swiss banking giant UBS. The EURO STOXX 50 climbed 0.35%, France’s CAC 40 added 0.25%, Germany's DAX rose 0.45%, while Britain's FTSE 100 advanced 0.4%.
During the Asian trading session, Japan’s Nikkei 225 Index closed 1.2% lower, as weak earnings reports from corporations such as Nintendo dampened market sentiment.
Later in the day, the U.S. was to publish reports on house price inflation and consumer confidence, as well as official data on manufacturing activity in Richmond.
Dow Jones Industrial Average futures pointed a gain of 0.35%, the S&P 500 futures climbed 0.38%, while Nasdaq 100 futures indicated an increase of 0.32%.
The second largest U.S. automaker Ford saw shares jump 3.1% in pre-market trade after it reported its largest first quarter profit in 13 years, driven by strong sales in the U.S. and increased demand for fuel efficient vehicles.
Shares in industrial and consumer goods conglomerate 3M Company climbed 2.9% after it said first quarter revenue jumped 13% to a first quarter record of USD7.31 billion. The company hiked its earnings outlook for the second quarter, citing increasing demand in emerging markets.
The world’s largest package delivery company United Parcel Service saw shares gain 1.7% after it reported a 66% jump in first quarter profit to USD885 million. "UPS produced strong first quarter results despite rapidly rising fuel costs and challenging weather conditions," the company said in a statement.
However, Coca Cola saw shares slump 1.5% after the company reported first-quarter profit and revenue below market expectations. The world’s largest beverage company said revenue came in at USD10.52 billion, short of expectations for revenue of USD10.58 bllion.
Meanwhile, online video-streaming giant Netflix saw shares tumble 5.4% after it lowered its second quarter earnings outlook, citing expectations for reduced DVD shipments and increased spending on streaming content.
Shares in business-software firm Oracle slipped 0.75% after it announced late Monday that Chief Financial Officer Jeff Epstein had resigned, effective immediately, and that co-President Safra Catz would assume the additional CFO responsibilities.
Other stocks in focus included online retail giant Amazon.com and semiconductor manufacturer Broadcom, which were both expected to release earnings after Tuesday’s closing bell.
In total, two Dow Industrial Average components and 23 S&P 500 companies are scheduled to release results today.
Across the Atlantic, European stock markets advanced as shares in the financial sector were boosted by strong earnings from Swiss banking giant UBS. The EURO STOXX 50 climbed 0.35%, France’s CAC 40 added 0.25%, Germany's DAX rose 0.45%, while Britain's FTSE 100 advanced 0.4%.
During the Asian trading session, Japan’s Nikkei 225 Index closed 1.2% lower, as weak earnings reports from corporations such as Nintendo dampened market sentiment.
Later in the day, the U.S. was to publish reports on house price inflation and consumer confidence, as well as official data on manufacturing activity in Richmond.