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Stocks - Dow Set for Record High as Investors Look Ahead to Earnings

Stock MarketsJan 16, 2018 06:50AM ET
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© Reuters. Dow set to open at a record high on Tuesday

Investing.com - Wall Street was set to rise on Tuesday as investors looked ahead to earnings and economic data, with the Dow expected to reach over 26,000 for the first time.

The S&P 500 futures rose 12 points or 0.45% to 2,801.25 as of 6:48 AM ET (11:48 GMT) while Dow futures increased 229 points or 0.89% to 26,030.0. Meanwhile tech heavy Nasdaq 100 futures was up 42 points or 0.62% to 6,817.25.

Markets in the U.S. were closed on Monday for the Martin Luther King Day holiday.

A flurry of earnings is expected this week, with Citigroup (NYSE:C), UnitedHealth Group Incorporated (NYSE:UNH), Comerica (NYSE:CMA), and CSX (NASDAQ:CSX) among the major firms releasing their financial results before the morning bell on Tuesday. Shares in Citigroup rose 0.60% in pre-market trading while UnitedHealth surged 3.66%.

Semiconductor Advanced Micro Devices (NASDAQ:AMD) was among the top performers before the morning bell, rising 1.33%. Telecommunications firm Nokia (HE:NOKIA) increased 3.08% after it finalized a deal to manage Australian-based Optus’s telecommunications network infrastructure and operations for five years. Meanwhile Bank of America (NYSE:BAC) inched forward 0.99%.

Elsewhere Overstockcom Inc (NASDAQ:OSTK) slumped 6.90% while photography firm Eastman Kodak Co (NYSE:KODK) was down 9.24% and patent firm Marathon Patent Group Inc (NASDAQ:MARA) decreased 13.67%

In economic news, the Empire State Manufacturing survey is released at 8:30 AM ET (13:30 GMT).

In Europe stocks were mostly up. Germany’s DAX rose 135 points or 1.03% while in France the CAC 40 increased 17 points or 0.31% and in London, the FTSE 100 fell four points or 0.06%. Meanwhile the pan-European Euro Stoxx 50 was up 14 points or 0.40% while Spain’s IBEX 35 gained 67 points or 0.65%.

In commodities, gold futures rose 0.603% to $1,335.30 a troy ounce while crude oil futures slumped 0.68% to $63.86 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, rallied 0.38% to 90.47.

Stocks - Dow Set for Record High as Investors Look Ahead to Earnings
 

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Cousin Vinny
Cousin Vinny Jan 16, 2018 7:05AM ET
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INDU (old school) going parabolic with RSI literally off the charts......
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