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!

Market Hustle: Stock Futures Hold Gains as Durable Goods Orders Climb

NEW YORK (TheStreet) -- U.S. stock futures were pointing to a higher open on Wall Street Thursday, bolstered by a rise in shares of Apple (AAPL) and Facebook (FB) after their upbeat earnings reports, and a stronger-than-expected gain in durable goods orders.

Caterpillar (CAT) and General Motors (GM)were also contributing to the strength after beating Wall Street's bottom-line estimates.

  • Dow Jones Industrial Average futures were up 35 points, or 62.35 points above fair value, to 16,495, S&P 500 futures were up 8.25 points, or 12.11 points above fair value, to 1,881.25, and Nasdaq futures were up 60 points, or 66.36 points above fair value, to 3,614.5.
  • The March headline number for durable goods orders rose more than expected, up 2.6% vs. the average estimate of 2%.
  • Jobless claims numbers were offsetting some of the premarket strength. Jobless claims for the week of April 19 increased by 24,000 to a more-than-expected 329,000 from upwardly revised prior week levels. The four-week moving average edged up by 4,750 to 316,750.
  • Apple shares were popping more than 8% in premarket trading after the tech behemoth posted fiscal second-quarter earnings that beat Wall Street estimates, and announced a 7-for-1 stock split.
  • Facebook was adding on 5.36% after the social media giant reported first-quarter earnings and revenue that topped expectations as advertising revenue grew more than expected.
  • Thursday is heavy on corporate earnings announcements, with Amazon (AMZN) and Microsoft (MSFT) being among the companies set to report after the closing bell.
  • Amazon is expected to post first-quarter earnings of 23 cents a share on revenue of $19.43 billion.
  • Microsoft is expected to report fiscal third-quarter earnings of 63 cents per share on revenue of $20.39 billion.
  • General Motors was gaining 2.33% after producing first-quarter earnings per share that topped estimates by 2 cents at 6 cents. Caterpillar was advancing more than 4% after posting quarterly earnings that exceeded expectations by 20 cents at $1.44 a share. Verizon (VZ) was edging up 0.51% as quarterly revenue beat estimates; earnings per share were 3 cents below expectations at 84 cents.
  • General Electric (GE) was also moving higher in premarket trading, up 0.53%, following a Bloomberg report that said that GE is in talks to buy Alstom, the French builder of trains and power plants.
  • Major U.S. stock markets slipped Wednesday amid tepid Chinese economic data and a 14.5% month-over-month drop in U.S. new-home sales.

-- By Andrea Tse in New York

Select the service that is right for you!

COMPARE ALL SERVICES
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 16,919.59 +80.85 0.48%
S&P 500 1,981.60 +9.86 0.50%
NASDAQ 4,527.5140 +19.2020 0.43%

Brokerage Partners

Rates from Bankrate.com

  • 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