Nasdaq futures climb, led higher by Apple’s jump

  • Written by MarketWatch
  • Published in Economics

Futures for the Nasdaq-100 index gained ground early Wednesday, boosted by Apple Inc.’s earnings-driven jump in premarket trading.

The Dow Jones Industrial Average and S&P 500 looked set for more muted moves, as traders braced for a Federal Reserve policy statement, as well as ADP’s monthly report on private-sector employment.

What are the main benchmarks doing?

Nasdaq-100 futures NQM8, +0.34%[1] rose by 29.50 points, or 0.4%, to 6,721.50.

Dow Jones Industrial Average futures YMM8, +0.00%[2] traded roughly flat at 24,075, while S&P 500 futures ESM8, +0.11%[3] gained 4.05 points, or 0.2%, to 2,656.25.

On Tuesday, the Dow DJIA, -0.27%[4] finished 0.3% lower[5], while the S&P 500 SPX, +0.25%[6] advanced by 0.3% and the tech-laden Nasdaq Composite COMP, +0.91%[7] rose 0.9%.

The Dow and S&P are down 2.5% and 0.7% for the year, as of Tuesday’s close. The Nasdaq Composite has climbed 3.3%.

What’s driving markets?

Apple’s stock AAPL, +2.32%[8] rose 3.4% in premarket action after the largest American company by market capitalization late Tuesday posted better-than-anticipated earnings and revenue[9] for the first quarter.

Check out: Apple earnings were saved by the company’s new MVP[10]

And see: The surprise in Apple earnings — big growth in China[11]

Encouraging first-quarter earnings from many companies have helped the main equity benchmarks rally in recent weeks, though investors also have been worried about protectionism and other geopolitical flare-ups.

Which economic releases are on tap?

Fed officials are due to wrap up a two-day meeting, and the policy makers are expected to leave interest rates on hold[12] and signal no change to a tightening path of two more rate increases in 2018.

The Federal Open...

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