This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stock Futures Rise on China Data as Apple Prepares Launch

Stocks in this article: ^DJI ^GSPC ^IXIC AAPL BAC MSFT

NEW YORK ( TheStreet) -- U.S. stock futures were pointing to a higher opening on Tuesday as China overnight extended a trend of stronger economic data, and investors anticipate the launch of Apple's (AAPL) newest iPhone.

Futures for the S&P 500 were climbing 0.67%, to 1,680.25.

Futures for the Dow Jones Industrial Average were tacking on 0.62%, to 15,129. Nasdaq futures were adding 0.66% to 3,186.

Japanese and Chinese stocks jumped overnight as Japan's Nikkei average surged 1.53% to 14,423 and Hong Kong's Hang Seng climbed 0.99% to 22,977. The pop came amid a larger-than-expected annual rise in China's industrial production for August, which increased 10.4%, up from the prior month's reading of 9.7% and above economists' forecasts. Chinese retail sales in August rose 13.4% year over year, besting the previous reading of 13.2%, and nudging past analysts' predictions.

Apple is expected Tuesday at 1 p.m. EDT to unveil its new iPhone at an event in Cupertino, Calif. Reports have suggested the phone will be an upgrade from the iPhone 5, which would be dubbed iPhone 5S. The company also could release a less expensive version of the iPhone, which would be called the 5C. Shares were rising 0.46% in premarket trading.

On the U.S. economic calendar, the Small Business Optimism Index for August reached 94, which was little changed from July's 94.1 reading, according to the National Federation of Independent Business.

The ICSC-Goldman store sales index rose 1.5% in the week ended Sept. 7. The report showed a large pop from the prior week's 0.6% decline. The Labor Department's Job Openings and Labor Turnover Survey and the latest Redbook are due later in the trading day.

In company news, Bank of America (BAC) is eliminating 2,100 jobs and closing 16 offices by Oct. 31 as surging interest rates are said to be hurting demand for mortgages, Bloomberg reported, citing two people with direct knowledge of the plan.

Microsoft (MSFT) could be headed toward hiring a turnaround specialist as its next chief executive. At least three of the company's top 20 investors have asked that the board consider Ford (F) CEO Alan Mulally and Computer Sciences (CSC) CEO Mike Lawrie for the job, several sources familiar with the matter told Reuters.

Verizon (VZ) is expected to raise $20 billion or more on Wednesday in what would be its largest debt sale, The Wall Street Journal reported.

European markets were surging on Tuesday. The FTSE 100 in London gaining 0.97%, and the DAX in Frankfurt was up 2%.

-- Written by Joe Deaux in New York.

>Contact by Email.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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