Wall Street claws its way back

Futures point to higher open after earnings news, subprime worries spark massive stock selloff; Amazon results a bright spot.

July 25 2007: 4:46 AM EDT

LONDON (CNNMoney.com) -- Stocks looked set to claw their way back Wednesday from one of their worst performances of the year.

At 4:31 a.m. ET, futures were lower, although a comparison to fair value pointed to gains for Wall Street at the open.

Stocks sank Tuesday amid mixed earnings news and ongoing problems in the mortgage market. The Dow Jones industrial average, which tracks 30 large companies, fell 226 points - its third biggest point loss this year. The broader S&P 500 index shed 2 percent.

Earnings will remain in focus, with a slew of reports on tap. Companies due to post quarterly results before the opening bell include Boeing (Charts, Fortune 500), ConocoPhillips (Charts, Fortune 500) and Colgate-Palmolive (Charts, Fortune 500). Apple Computer (Charts, Fortune 500) is set to report after the market close.

Amazon.com (Charts, Fortune 500) posted upbeat results after the market close Tuesday, which could offer some support to tech stocks. The online retailer said quarterly net profit more than tripled and raised its 2007 sales and operating earnings outlook.

Global markets were hit by the selloff on Wall Street. Major Asian markets finished the session lower, and European stocks tumbled at the open. Top of page

A look at more news and numbers ahead of the U.S. open
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.
© 2012 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Ad choices .
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.
© 2012 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Ad choices .