Jan. 28 Premarket Briefing: 10 Things You Should Know (Update 1)

Here are 10 things you should know for Tuesday, Jan. 28:  

1.-- U.S. stock futures were rising Tuesday but paring gains after the Commerce Department said orders for durable goods fell 4.3% in December compared with November, when orders rose 2.6%. Tuesday begins a two-day Federal Reserve meeting, Ben Bernanke's last as chairman of the central bank.

2.-- The economic calendar in the U.S. Tuesday includes the Case-Shiller 20-City Index for November at 9 a.m. EST and the Consumer Confidence Index for January at 10 a.m.

3.-- U.S. stocks on Monday fell as homes sales fell in December and weakness in emerging markets pointed to lower demand for U.S. exports. Markets continued their decline for the month as investors braced for the possibility the Federal Reserve will announce a further tapering of its bond-buying stimulus program at the conclusion of a two-day meeting on Wednesday.

The S&P 500 fell 0.5% to close at 1,781.56 while the Dow Jones Industrial Average declined 0.3% to was little changed at 15,837.88. The Nasdaq tumbled 1.08% to 4,083.61.

4.-- IPhone and iPad maker Apple  (AAPL) reported fiscal first-quarter earnings and revenue that topped Wall Street expectations but investors came away disappointed by iPhone sales that were below forecasts and a second-quarter revenue outlook of $42 billion to $44 billion, about $3 billion below analysts projections.

Apple sold 51 million iPhones in the quarter, up from 47.8 million a year earlier, but below forecasts of 55 million iPhones.

The company sold 26 million iPads during the quarter, in line with expectations.

Apple shares fell 7.5% in premarket trading Tuesday to $509.22.

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