(By Salman - iStockAnalyst Writer)US stock futures declined on Wednesday after a ADP survey reported private-sector shed an estimated 371,000 jobs in the July.
At 8: 16 am ET, the
S&P 500 retreated 2.20 points to 1002.50. The
Dow Jones Industrial Average rose 5 points to 9292. The
Nasdaq Composite fell 2.50 points to 1627.75.
ADP survey on Wednesday reported that a total of 371,000 private-sector jobs were lost in July. Economists had projected a drop of 350,000 private sector jobs.
Early on Wednesday,
Procter & Gamble (NYSE:
) fourth-quarter net income fell to $40 million, or 80 cents a share, from $66 million, or 92 cents a share, in the comparable period last year. Revenue dropped 11% to $18.7 billion.
Dean Foods Co. (NYSE:
) said Wednesday that its second-quarter profit increased to $64.1 million, or 38 cents a share, from $48.9 million, or 31 cents a share, in the prior year period. Revenue declined to $2.68 billion from $3.1 billion.
Transocean (NYSE:
) said Wednesday its second-quarter net income fell to $806 million, or $2.49 a share, from $1.07 billion, or $3.31 a share in the year-ago period. Excluding one-time charges of 30 cents a share, the operator of drill ships earned $2.79 a share in the latest quarter. Revenue slipped 7.6% to $2.9 billion from $3.1 billion.
Late on Tuesday,
Kraft Foods (NYSE:
), the world's second-largest food company, reported that second-quarter net income rose 11% to $832 million, or 56 cents a share, compared to net income of $745 million, or 49 cents a share, in the year-ago period. Revenue fell 6% to $10.2 billion.
Whole Foods Market Inc. (NASDAQ:
) reported that fiscal third-quarter net income rose to $34.97 million, or 25 cents a share, from $33.92 million, or 24 cents a share, in the year-earlier quarter. Revenue climbed 2% to $1.9 billion.
On the economic front,
factory orders, ISM services data are due for release at 10:00 am ET.
US stocks finished higher on Tuesday as better than expected pending home sales boosted recovery hopes.
European stocks advanced in afternoon trade. At 12:42 pm London time, the UK FTSE rose 13.75 points or 0.29% to 4,685.12. The German DAX and French CAC increased 0.10% and 0.59% respectively.
Asian stocks finished with losses. The Nikkei 225 fell 122.48 points or 1.18% to 10,252.53. The Hang Seng index of Hong Kong dropped 301.66 points or 1.45% to 20,494.77.
NYMEX crude oil for September delivery declined as much as 57 cents, or 0.8 percent, to $70.85 a barrel in electronic trading.
Disclosure: Author doesn’t own any of the stocks mentioned here.
