Stocks Poised for Gains

Futures indicate a higher open for blue chips and tech stocks.
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Stocks appeared poised to open with gains in the U.S. as Wall Street cheered a big acquisition by Google (GOOG) - Get Report and prepared for the start of earnings season.

Futures on the

S&P 500

were up 1 point at 1360.10, about 2.5 points ahead of fair value. Nasdaq 100 futures were gaining 3 points to 1707 and were 2 points above fair value.

On Monday, traders shrugged off North Korea's escalating nuclear ambitions and the prospect of OPEC production cuts and closed slightly higher.

The

Dow Jones Industrial Average

finished the session up 7.60 points, or 0.06%, to 11,857.81. The index hit a high of 11,872.94, surpassing the old intraday record of 11,870.06 reached last week. The S&P 500 tacked on 1.08 points, or 0.08%, at 1350.66, and the

Nasdaq Composite

added 11.78 points, or 0.51%, at 2311.77.

Capping off a busy day for mergers and acquisitions, Internet search outfit Google said after the close of the prior session that it would buy video-sharing site YouTube for $1.65 billion. The stock-for-stock deal should close in the fourth quarter.

Elsewhere, third-quarter earnings seasons unofficially kicks off when

Alcoa

(AA) - Get Report

, a member of the Dow and a company that's viewed as a proxy for the economy, reports its results following the close.

Already, other companies are providing estimates or limited results.

Staples

(SPLS)

reiterated its previous third-quarter guidance of earnings per share growth of 15% to 20%, in line with average analyst estimates. For the full year, the office-supplies retailer also expects profit growth to match estimates.

CVS

(CVS) - Get Report

said business trends have been strong, and the drugstore chain raised its third-quarter and full-year projections by 3 cents a share.

Meanwhile,

D.R. Horton

(DHI) - Get Report

said net sales orders for the fourth quarter ended Sept 30 fell to 10,430 homes from 13,950 homes in the same period last year. The company's cancellation rate for the fourth quarter was 40%, up from 29% in the third quarter.

To view Farnoosh Torabi's video take on today's market, click here