Stock Futures Edge Up; United Technologies Dips


Markets Update

Stock futures were quietly higher Monday, a day carrying a light economic calendar and muted overseas action, but with a heavyweight line-up of after-hours earnings reports.

Dow futures were up 11 points, down from earlier highs. SP 500 futures were flat while Nasdaq 100 futures clung to a 1.5 point gain. Dow and SP 500 futures were trading below fair market value.

United Technologies (UTX) posted the Dow’s largest move, down 2%. The aerospace leader is scheduled to report Q4 results Wednesday.

Oil rose more than 1% to above $99 a barrel. Natural gas notched up a fraction after sweeping to a 10-year low late last week. Gold edged above $1,676 an ounce.

Twin Disc (TWIN) slumped 9% ahead of the opening bell after reporting fiscal second-quarter earnings of 51 cents per share, nine cents below analyst expectations. Revenue rose 11% to $82.9 million but also fell well short of views. Despite the slow start, the company said it expects a good year as it enters its seasonally strong second half.

After the close, Albermarle (ABL), railroads CSX (CSX) and Kansas City Southern (KUS), Texas Instruments (TXI), VMware (VMW)and Western Digital (WDC) are among the companies slated to report earnings.

European markets were generally quiet, showing light gains in early afternoon trade. China’s markets closed slightly higher Monday while Japan’s Nikkei 225 in Tokyo slipped 0.5%.


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