(By Salman - iStockAnalyst Writer)US stock futures slipped on Wednesday as durable goods order data for the month of September failed to buoy investor sentiment.
At 8:26 am ET, the S&P 500 futures slipped 3.70 points to 1056.70. The Dow Jones Industrial average futures fell 37 points to 9798. The Nasdaq Composite futures declined 3.25 points to 1716.50.
A release by Commerce Department on Wednesday showed that order for durable goods rose 1% in September, matching consensus estimates.
Early on Wednesday, WellPoint (NYSE:
WLP) said that its third quarter net income slipped to $730.2 million, or $1.53 per share, from $820.7 million, or $1.60 per share, in the year-ago quarter. Revenue fell less than 1 percent to $15.21 billion.
Late on Tuesday, Apollo Group Inc. (NYSE:
APOL) reported that fiscal fourth-quarter net income declined to $91.5 million, or 59 cents a share, from $229.6 million, or $1.43 a share, a year ago. On an adjusted basis, the company earned $165.6 million, or $1.06 a share, compared with $120.5 million, or 75 cents a share, a year ago. Revenue increased to $1.08 billion from $831 million.
E-Trade Financial Corp. (NASDAQ:
ETFC) on Tuesday reported a wider third-quarter net loss of $832 million, or 66 cents a share, compared with a net loss of $50 million or 9 cents a share, in the year earlier quarter. On an adjusted basis, the company reported a net loss of $59 million, or 5 cents a share, in the latest period.
Visa (NYSE:
V) on Tuesday announced that it swung to fourth quarter profit of $514 million or 69 cents per Class A common share, compared with a net loss of $356 million, or 45 cents per Class A common share, a year earlier.
According to the Mortgage Bankers Association, seasonally adjusted composite mortgage applications index dropped 12.3% for the week ended Oct. 23. On an unadjusted basis, it declined 2.8% from the previous week.
On the economic front, new home sales data is due for release at 10:00 am ET.
US stocks finished mostly down on Tuesday as investors reacted to a weaker-than-expected consumer confidence data. However, Dow managed to finish in green as a rally in energy stocks and better-than-expected housing data provided some hope.
European stocks retreated in afternoon trade. At 11:56 pm London time, the UK FTSE fell 95.85 points or 1.84% to 5,105.12. The German DAX and French CAC decreased 1.72% and 1.74% respectively.
Asian stocks finished lower. The Nikkei 225 plunged 137.41 points or 1.35% to $10,075.05. The Hang Seng index of Hong Kong slumped 408.01 points or 1.84% to 21,761.58.
NYMEX crude oil for December delivery declined 89 cents or 1.1% to $78.66 a barrel in electronic trading.
Disclosure: Author doesn't own any of the stocks discussed here.
