This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

5 Things You Should Know Before the Stock Market Opens

Stocks in this article: AAPL VAT BA

NEW YORK ( TheStreet) -- U.S. stock futures were rising Wednesday after profits at Apple (AAPL - Get Report), the iPhone, IPod and iPad maker, nearly doubled.

European stocks were higher but pared gains following data that showed the U.K. economy slipped back into recession. Asian shares ended mixed. Japan's Nikkei 225 rose 1% to close at 9,561.01.

Wednesday brings the outcome of the Federal Reserve's two-day policy meeting. A change on rates isn't expected, but the Federal Open Market Committee is expected to stick to its promise to keep interest rates at historic lows until at least late 2014. The Fed will announce its decision on rates at 12:30 p.m. EDT.

Also expected Wednesday are durable-goods orders for March at 8:30 a.m., and weekly crude inventories data at 10:30 a.m.


Apple's (AAPL - Get Report) fiscal second-quarter profit soared 93%, blowing past Wall Street's expectations.

Apple earned $12.30 a share in the quarter on revenue of $39.2 billion. Analysts were expecting earnings of $10.02 a share on revenue of $36.69 billion. About $22.7 billion of revenue was from sales of the iPhone.

Apple said it sold 35.1 million iPhones, 11.8 million iPads, 4 million Macs and 7.7 million iPods in the quarter.

Apple forecast third-quarter earnings of $8.68 a share on revenue of $34 billion; analysts currently expect profit of $9.93 a share on revenue of $37.45 billion.


Dow components Boeing (BA - Get Report) and Caterpillar (CAT - Get Report) report first-quarter earnings before the opening bell Wednesday.


The Treasury Department's Inspector General for the Troubled Asset Relief Program, or TARP, contradicted Wednesday a previous Treasury statement that the bank bailout program was profitable.

In a quarterly report to Congress, Christy Romero, the special inspector general, said: "It is a widely held misconception that TARP will make a profit. The most recent cost estimate for TARP is a loss of $60 billion," adding that "taxpayers are still owed $118.5 billion (including $14 billion written off or otherwise lost)."


Mitt Romney won primaries in Rhode Island, Connecticut, Delaware, Pennsylvania and New York on Tuesday night, states he was expected to win and where a total of 231 delegates were at stake.

Romney had 698 delegates coming into the primaries.

"After 43 primaries and caucuses ... I can say with confidence -- and gratitude -- that you have given me a great honor and solemn responsibility," Romney said in New Hampshire.

"A better America begins tonight," Romney said.


A case of mad cow disease was discovered in a dead dairy cow in California.

The finding, announced Tuesday, is the first new case of the disease in the U.S. since 2006, according to The Associated Press

Two major South Korean retailers suspended sales of U.S. beef Wednesday, AP reported.

-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs