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Home>UPDATE: U.S. stocks set to open higher, but Nike nosedives after earnings

UPDATE: U.S. stocks set to open higher, but Nike nosedives after earnings

UPDATE: U.S. stocks set to open higher, but Nike nosedives after earnings

09/27/2017

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)

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