NEW YORK (CNNMoney.com) -- U.S. stocks were headed for a mixed open Wednesday as optimism over solid tech earnings was tempered by caution over upcoming results in the financial sector.
Nasdaq 100 futures were higher before the opening bell. But Dow Jones industrial average and S&P 500 futures were both moderately lower.
Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins.
Stocks finished Tuesday's session in positive territory, thanks to better-than-expected earnings from Goldman Sachs and several consumer companies.
Earnings: Morgan Stanley (MS, Fortune 500) said it swung to a $1.8 billion profit in the first quarter Wednesday before the bell, as strong trading revenues boosted the Wall Street firm's latest results. Shares of Morgan rose about 3% in pre-market trading.
Wells Fargo (WFC, Fortune 500) reported a $2.5 billion profit before the bell, beating Wall Street expectations. The company said that credit conditions have "turned the corner" from the weakness of the financial crisis. The stock dropped about 2% in pre-market trading.
Chrysler announced that it earned its first operating profit since exiting bankruptcy on June 10, 2009. The profit follows nearly $4 billion of losses logged by the automaker during that time.
In addition to banks, investors will take in quarterly results from several Dow components ahead of the bell, including AT&T (T, Fortune 500), Boeing (BA, Fortune 500), McDonalds (MCD, Fortune 500) and United Technologies (UTX, Fortune 500).
The results continue after the markets close, with coffee chain Starbucks (SBUX, Fortune 500) and other major names reporting results.
Late Tuesday, iPod and Mac maker Apple (AAPL, Fortune 500) posted a record quarter that blew past Wall Street's estimates.
Yahoo (YHOO, Fortune 500) also delivered earnings that beat expectations, although its sales came in below estimates.
World markets: European shares drifted lower in morning trading. The FTSE 100 in Britain and France's CAC 40 were both about 0.8% lower, while Germany's DAX fell 0.3%.
Asian markets ended the session mixed. Japan's Nikkei rallied 1.7% and the Shanghai Composite surged 1.8%. The Hang Seng in Hong Kong lost 0.5%.
Other markets: The dollar drifted higher against the euro but remained weak versus the pound. It was unchanged against the yen.
The price of oil edged up 3 cents to $83.88 a barrel. The government's weekly oil inventory report is due at 10:30 a.m. ET.
Gold prices were up $1.10 to $1,139.70 an ounce.
Treasury prices were higher with the yield on the benchmark 10-year note at 3.78%.
Overnight Avg Rate | Latest | Change | Last Week |
---|---|---|---|
30 yr fixed | 3.80% | 3.88% | |
15 yr fixed | 3.20% | 3.23% | |
5/1 ARM | 3.84% | 3.88% | |
30 yr refi | 3.82% | 3.93% | |
15 yr refi | 3.20% | 3.23% |
Today's featured rates:
Index | Last | Change | % Change |
---|---|---|---|
Dow | 32,627.97 | -234.33 | -0.71% |
Nasdaq | 13,215.24 | 99.07 | 0.76% |
S&P 500 | 3,913.10 | -2.36 | -0.06% |
Treasuries | 1.73 | 0.00 | 0.12% |
Company | Price | Change | % Change |
---|---|---|---|
Ford Motor Co | 8.29 | 0.05 | 0.61% |
Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
General Electric Co | 13.00 | -0.16 | -1.22% |
Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More |
Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More |
Honda and General Motors are creating a new generation of fully autonomous vehicles. More |
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More |
Whether you hedge inflation or look for a return that outpaces inflation, here's how to prepare. More |