MARKET SNAPSHOT: U.S. Stocks Set To Open Higher, But Nike Nosedives After Earnings
By Victor Reklaitis, MarketWatch
Nike and Micron move in opposite directions after quarterly results
U.S. stock futures on Wednesday pointed to a small rise at the open, as analysts said the market is stabilizing after a four-session skid for the Dow industrials.
Futures for the Dow Jones Industrial Average rose by 23 points, or 0.1%, to 22,282, while those for the S&P 500 gained 4.40 points, or 0.2%, to 25,00. Futures for the tech-heavy Nasdaq-100 tacked on 15 points, or 0.3%, to 5,907.50.
On Tuesday, the Dow finished less than 0.1% lower (http://www.marketwatch.com/story/us-stock-futures-fall-after-north-korean-nuclear-bomb-threat-2017-09-22). That marked its fourth down day in a row, leaving it 0.6% below its record close hit a week ago. The S&P and Nasdaq Composite both closed slightly higher Tuesday, as North Korea-related fears (http://www.marketwatch.com/story/trump-us-is-totally-prepared-for-military-option-with-north-korea-2017-09-26) appeared to subside and traders largely shrugged at Federal Reserve chief Janet Yellen's suggestion that the central bank won't dawdle while raising interest rates (http://www.marketwatch.com/story/yellen-says-fed-should-be-wary-of-raising-rates-too-gradually-2017-09-26).
"Wall Street has started to form some support once more, with the S&P 500 closing all but flat at 2,497," said Richard Perry, a Hantec Markets analyst, in a note Wednesday.
Investors are likely to watch for a major Republican announcement on tax reform (http://www.marketwatch.com/story/trump-today-president-says-puerto-rico-response-has-gotten-tremendous-reviews-2017-09-26) promised for Wednesday.
Read more:Wilbur Ross says tax reform could boost economy by 1% (http://www.marketwatch.com/story/wilbur-ross-done-right-tax-reform-could-boost-economy-by-1-2017-09-26)