Stock Market Today: Equities Poised to Extend Record Gains

NEW YORK (TheStreet) -- Stock futures were ticking higher Wednesday after the S&P 500 closed above the 2000-point milestone for the first time on Tuesday.

Dow Jones Industrial Average
futures were up 16 points, or 29.30 points above fair value, to 17,113. S&P futures were up 1 point, or 2.13 points above fair value, to 1,999.5. Nasdaq futures were up 2.5 points, or 4.13 points above fair value, to 4,074.8.

The markets continued to take out their old highs Tuesday after the S&P 500 crossed 2,000 on Monday. Confidence remained from reassurances last week by Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi that ultra-low interest rates will remain intact. Headlines on mergers and acquisitions also bolstered sentiment.

Companies grabbing the headlines Wednesday include Tiffany (TIF) . The stock popped 3.21% to $104 in premarket trading after the luxury jewelry retailer posted better-than-expected second-quarter earnings of 96 cents and raised its full-year earnings outlook to $4.20 to $4.30 a share.

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Allergan (AGN) , which is fighting off a $49 billion hostile bid from Valeant Pharmaceuticals (VRX) and Pershing Square Capital Management, said it scheduled a special shareholders meeting for Dec. 18, when Pershing Square's Bill Ackman and other shareholders will get the chance to oust the board of the Botox maker.)

Shares of Orbitz Worldwide (OWW) fell 4.6% on Tuesday after American Airlines (AAL) announced it would withdraw its fares from the service.

--By Andrea Tse in New York

Follow @AndreaTTse

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