(By Salman - iStockAnalyst Writer)US stock futures were mixed on Wednesday even though the government release showed orders for durable goods jumped 4.9% in July, the biggest increase in two years.
At 8:26 am ET, the S&P 500 futures climbed 0.70 points to 1026.80. The Dow Jones Industrial Average futures fell 7 points to 9516. The Nasdaq Composite futures rose 2.75 points to 1639.25.
According to US Department of Commerce, orders for durable goods jumped 4.9% in July, the biggest increase in two years. Economists on average had projected an increase of 3.2%.
Early on Wednesday, Williams-Sonoma Inc. (NYSE:
WSM) reported their second-quarter net income fell to $399,000, or breakeven, versus $18.4 million, or 17 cents a share in the year-ago period. On an adjusted basis, the company earned 5 cents a share compared to 9 cents a share. Revenue dropped to $672 million from $820 million.
Discount retailer Dollar Tree (NASDAQ:
DLTR) said that its second quarter net income climbed to $56.9 million, or 63 cents a share, from $37.6 million, or 42 cents a share, in the prior year quarter. Revenue rose to $1.22 billion from $1.09 billion. Looking ahead, the company expects their third-quarter profit in the range of 58 cents to 64 cents a share with comparable-store sales rising in the low-to-mid single digits. It expects to report its third quarter revenue in the range of $1.19 billion to $1.23 billion.
Shares of Myriad Genetics (NASDAQ:
MYGN) gained in pre-market trade. The company reported better than expected results late Tuesday.
Late on Tuesday, Colonial BancGroup Inc., the Montgomery-based real estate lender, filed for Chapter 11 bankruptcy protection.
The Mortgage Bankers Association said Wednesday that its mortgage applications filed last week increased a seasonally adjusted 7.5% compared with the week before, boosted primarily by refinancing activity.
On the economic front, new home sales data for the month of July is due for release at 10:00 am ET. Economists currently expect new home sales to rise at seasonally adjusted pace of 390,000.
US stocks finished with gains on Tuesday after better-than-expected consumer confidence and housing data boosted investor sentiment.
European stocks retreated in afternoon trade. At 12:38 pm London time, the UK FTSE fell 26.54 points or 0.54% to 4,890.26. The German DAX and French CAC decreased 0.72% and 0.42% respectively.
Asian stocks finished up. The Nikkei 225 rose 142.35 points or 1.36% to 10,497.36. The Hang Seng index of Hong Kong slipped 100.70 points or 0.49% to 20,435.24.
NYMEX crude oil for October delivery climbed as much as 59 cents or 0.8% to $72.64 a barrel in electronic trading.
Disclosure: Author doesn’t own any of the stocks mentioned here.
