U.S. futures rise although Fed uncertainty remains; Dow Jones up 0.42%
Investing.com
Published Nov 06, 2013 06:49AM ET
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.42% rise, S&P 500 futures signaled a 0.49% increase, while the Nasdaq 100 futures indicated a 0.37% gain.
Investors remained cautious after data on Tuesday showing that service sector activity in the U.S. grew at a faster than expected pace in October supported the view that the Federal Reserve could start scaling back stimulus as soon as next month.
The data came after comments by Fed officials on Monday indicated that the bank is likely to keep its stimulus program in place for some time to come.
Federal Reserve Bank of Boston President Eric Rosengren said bank should keep its asset purchase program in place until there is "compelling evidence of a sustainable recovery making satisfactory progress toward full employment."
Apple was likely to be in focus, after the tech giant said it received as many as 5,542 information requests from U.S. law enforcement agencies in the first half of 2013. Apple shares edged down 0.09% in pre-market trade.
In the financial sector, Wells Fargo was up 0.07% in extended trading following reports it is among firms facing federal scrutiny of mortgage-bond sales under a 1989 law the government is using to extend probes of banks’ roles in the credit crisis.
Among earnings, Abercrombie & Fitch reported fiscal third-quarter sales below analysts’ estimates, sending shares down 7.33% after hours.
Qualcomm, Activision Blizzard, CBS and WholeFoods were also scheduled to report quarterly earnings later in the day.
Other companies expected to be in focus included Twitter's, which was set to announce its much-anticipated initial public offering after the closing bell.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 retreated 0.54%, France’s CAC 40 slid 0.41%, Germany's DAX shed 0.34%, while Britain's FTSE 100 dropped 0.54%.
During the Asian trading session, Hong Kong's Hang Seng Index dipped 0.01%, while Japan’s Nikkei 225 Index advanced 0.79%.
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Written By: Investing.com
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