U.S. futures mixed, focus on Fed decision; Dow Jones down 0.33%
Investing.com
Published Jan 25, 2012 07:08AM ET
Ahead of the open, the Dow Jones Industrial Average futures pointed to a fall of 0.33%, S&P 500 futures signaled a 0.29% decline, while the Nasdaq 100 futures indicated a 0.58% gain.
Concerns over a potential Greek default persisted as talks on a deal to help restructure the country’s sovereign debt stalled on Tuesday.
Sentiment briefly found support after data showed that German business confidence improved more-than-expected in January, moving higher for the third consecutive month.
Apple was expected to be in focus as the company’s quarterly results were significantly better-than- expected after U.S. consumers bought near-unprecedented numbers of iPhones and iPads. Apple shares surged 7.22% in pre-market trade.
Meanwhile, aircraft makers were also slated to be active as Nordic budget carrier Norwegian Air Shuttle ordered 222 narrow-body aircraft worth a total of USD21.5 billion. It split its order between Airbus and Boeing, which was due to report fourth-quarter earnings later in the day.
Elsewhere, U.S. oil giant Exxon Mobil resumed work on Wednesday at its USD15.7 billion liquefied natural gas project in Papua New Guinea, a day after a landslide swept through two nearby villages killing at least four people. Exxon shares edged up 0.08% in after hour trading.
Also in corporate news, Roche Holding is offering USD5.7 billion in cash to buy U.S. gene sequencing company Illumina Inc in a hostile takeover bid that marks a major play by the Swiss drug maker into the gene technology field.
Other stocks in focus included United Technologies, Textron, Abbott Laboratories and Xerox, all due to release earnings reports later in the day.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 plunged 1.05%, France’s CAC 40 tumbled 0.81%, Germany's DAX dropped 0.58%, while Britain's FTSE 100 declined 0.81%.
During the Asian trading session, Hong Kong's Hang Seng Index was closed due to the Chinese Lunar New Year holiday, while Japan’s Nikkei 225 Index rallied 1.12%.
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Written By: Investing.com
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