This Day On The Street
Continue to site
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

Stock Futures Looking Higher After HPs Upside Surprise

NEW YORK ( TheStreet) -- U.S. stock futures were pointing to a higher open on Friday after two consecutive losing sessions for the major equity indices, getting a lift from Hewlett-Packard's (HPQ - Get Report) promising earnings.

Futures for the Dow Jones Industrial Average were gaining 72 points, or 0.52%, at 13,944. Futures for the S&P 500 were adding 8 points, or 0.53%, to 1509. Nasdaq futures were tacking on 14 points, or 0.5% with a fair value of 2728.

Hewlett-Packard reported Thursday a profit of 82 cents a share on revenue of $28.4 billion. Analysts predicted the tech company would post earnings of 71 cents a share on revenue of $27.79 billion during its fiscal first quarter.

HP said its outlook for the second quarter was for profit of 80 cents to 82 cents a share, and full-year earnings of $3.40 to $3.60 a share, higher than Wall Street's estimate of $3.32. Shares were up more than 5% in premarket action Friday.

No major economic reports were due out on Friday. Federal Reserve Gov. Jerome Powell and Boston Fed President Eric Rosengren were expected to speak at a monetary policy forum at the Grand Hyatt in New York on Friday.

Stocks slumped on Thursday after jobless claims rose more than expected and general business conditions came in soft. The early part of Thursday's session showed that equities continued to reel from the minutes of the Fed's January meeting, as it suggested central bankers were growing more open to scaling back quantitative easing measures in 2013.

Global markets were rebounding on Friday. The FTSE 100 in London was increasing 0.76%, and the DAX in Frankfurt was rising 1.1%.

Asian markets closed mixed on Friday. Japan's Nikkei average closed up 0.68% at 11386. Hong Kong's Hang Seng slid 0.54% to 22,782.

Gold futures for April delivery were sliding $2.90 to $1,575.70 an ounce at the Comex division of the New York Mercantile Exchange, while futures for April crude oil contracts were adding 25 cents to $93.09 a barrel.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
SYM TRADE IT LAST %CHG
BA $131.87 1.96%
C $53.44 2.22%
HPQ $27.79 2.55%
AAPL $112.92 2.94%
FB $89.73 2.91%

Markets

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs