NEW YORK (TheStreet) -- Here are 10 things you should know for Wednesday, July 24:
European shares were rising on purchasing managers index reports that came in better than expected. Asian stocks ended Wednesday's trading session mixed.
2. -- The economic calendar in the U.S. Wednesday includes new-home sales for June at 10 a.m. EDT.
3. -- U.S. stocks ended Tuesday's session mixed as investors showed caution about this seemingly never-ending bull market. The S&P 500 dropped 0.2% to finish at 1,692.39 after trading as high as 1,698.78, a new intraday record. On Monday, the S&P hit a record closing price of 1,695.53. The Dow Jones Industrial Average added 0.1% to 15,567.74 while the Nasdaq fell 0.6% to 3,579.27.
4. -- Apple's (AAPL) third-quarter earnings beat Wall Street expectations, as the company sold 31.2 million iPhones during the period. Apple earned $7.47 a share on revenue of $35.3 billion in its fiscal third quarter. Analysts were expecting profit of $7.32 a share in sales of $35.01 billion. During the quarter, Apple sold 31.2 million iPhones, up from 26 million in the year-earlier quarter. It sold 14.6 million iPads during the quarter, down from17 million a year earlier, and sold 3.8 million Macs during the quarter, down from 4 million in the year-earlier period. Gross margins during the quarter were 36.9%, down from 42.8% a year earlier. For the fourth quarter, Apple expects revenue of between $34 billion and $37 billion, with gross margins between 36% and 37%.
5. -- Wall Street expects automaker Ford (F) to report on Wednesday second-quarter earnings of 37 cents a share on sales of $35.15 billion. Last year, Ford earned 30 cents a share on revenue of $31.4 billion.
6. -- Analysts expect Facebook (FB), the social networking giant, to post after Wednesday's closing bell second-quarter earnings of 14 cents a share on revenue of $1.62 billion. Investors will be focused Wednesday on signs that Facebook can keep growing advertising revenue, especially on mobile devices.
7. -- Boeing (BA), the aerospace manufacturer, is expected by Wall Street to report second-quarter earnings of $1.58 a share on revenue of $20.78 billion.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV