Market Hustle: Stock Futures Little Changed; DuPont Slips
NEW YORK (TheStreet) -- U.S. stock futures were little changed Tuesday amid a slow day for economic data and as the Ukrainian crisis heightened because of gridlock in discussions between the U.S. and Russia.
- Dow Jones Industrial Average futures were down 8 points, or 4.68 points below fair value, to 16,405. S&P 500 futures were off 1.75 points, or 0.82 points below fair value, to 1,875.5. Nasdaq futures were up 0.3 points, or 1.86 points above fair value, to 3,707.8.
- DuPont (DD) was down 0.52% after saying that its first-quarter revenue and earnings growth will be challenged by extended harsh weather in North America, farmer uncertainty and business disruptions in Ukraine. But DuPont reiterated its full-year earnings outlook of $4.20 to $4.45 a share.
- Dicks Sporting Goods (DKS) was up 1.23% after beating fourth-quarter sales expectations and reporting in-line earnings per share of $1.11.
- Apple (AAPL) was gaining 0.53% after Pacific Crest Securities hiked its view on the stock to "outperform" from "sector perform," explaining that the potential for a higher-priced iPhone 6 could trigger a renewal of growth in the company's fiscal 2015.
- The economic calendar is light, with a January wholesale inventories report scheduled for 10 a.m. EDT. A build is expected after a harsh winter season.
- The Ukraine crisis continues to make headlines as Russia said that it is drafting a counterproposal to a U.S. plan for a solution to the crisis even as U.S. Secretary of State John Kerry rejected an offer of talks with Russian President Vladimir Putin, saying that a dialogue can only begin when Moscow starts engaging in U.S. proposals.
- Earlier, Russian Foreign Minister Sergei Lavrov said during a TV appearance with Putin that the U.S. proposal "contains an approach which does not quite suit us, as the entire wording suggests there is a conflict between Russia and Ukraine."
- Exxon (XOM) and Royal Dutch Shell (RDS.A) are part of an oil exploration group that's now at risk of losing Black Sea oil and natural gas drilling prospects because of the crisis in Ukraine. The companies were looking to spend $735 million to drill two wells, Bloomberg reported. Both stocks were sliding in premarket trading.
- International markets were largely stabilizing after taking a hit during the prior session on soft China trade data and Japan GDP data. The DAX in Germany was up 0.27%, the FTSE 100 in London was down 0.15%, the Hong Kong Hang Seng settled up 0.02%, and the Nikkei 225 in Japan rose 0.69%.
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