Techs lift the mood

Futures higher after Apple posts robust results that easily beat Wall Street's estimates; overseas markets rally.

October 23 2007: 5:17 AM EDT

LONDON (CNNMoney.com) -- U.S. stock futures were stronger Tuesday after positive earnings reports in the technology sector, led by Apple Computer, lifted sentiment.

At 4:56 a.m. ET, Nasdaq futures were sharply higher, pointing to a positive open. The broader market, however, looked set for a tougher start.

Apple (Charts, Fortune 500) posted sharply higher revenue and earnings after the market close on Monday. The results handily beat Wall Street's estimates.

Online DVD rental company Netflix (Charts) and chipmaker Texas Instruments (Charts, Fortune 500) both also reported strong quarterly results late Monday.

Another slew of corporate earnings is on tap Tuesday, including results from AT&T (Charts, Fortune 500), Dupont (Charts, Fortune 500) and Amazon.com (Charts, Fortune 500).

In deal news, Nike (Charts, Fortune 500) said it was buying British sports apparel maker Umbro for $582 million. The move is expected to help the U.S. giant expand its soccer presence.

Stocks made a recovery of sorts on Monday after last week's heavy sell off. Tech shares led the rebound, gaining about 1 percent, while the broader S&P 500 index added just 0.4 percent.

In global trade, major markets in Asia also rebounded. Hong Kong's Hang Seng index added nearly 4 percent. European stocks were higher in early trading. Top of page

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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 .