Stocks: Apple earnings lift spirits

NEW YORK (CNNMoney)

U.S. stock futures were all moving higher, with the tech-heavy Nasdaq index leading the way with a 0.8% gain.

Apple (AAPL, Fortune 500) shares rose in after-hours trading Tuesday after the tech giant reported quarterly earnings that beat expectations.

Earnings season continues Wednesday. Firms including PepsiCo (PEP, Fortune 500), Ford (F, Fortune 500), Boeing (BA, Fortune 500) and Caterpillar (CAT, Fortune 500) are set to report quarterly results before the opening bell Wednesday. Facebook (FB) and Visa (V, Fortune 500) are due in the afternoon.

On the economic front, the Census Bureau will release data on new home sales at 10:00 a.m. ET.

Related: Fear & Greed Index

U.S. stocks finished mixed Tuesday. The Dow Jones industrial average gained nearly 0.2%, ending at an all-time high of 15,568. The S&P 500 fell 0.2%, and the Nasdaq dropped by 0.6%.

AT&T (T, Fortune 500) shares slipped after-hours as the company posted earnings that just missed estimates.

European markets were all moving up in morning trading after the latest eurozone purchasing managers' index showed the region was stabilizing. Manufacturing output grew for the first time since February 2012, while service sector activity saw its smallest rate of decline for 18 months.

"The hope for the eurozone is that current gradually rising confidence encourages businesses to increasingly pare back their job cutting and become more prepared to invest," said Howard Archer, chief European economist at IHS Global Insight.

Related: Factory output puts brakes on China's growth

Meanwhile, Asian markets had a mixed day after HSBC said Wednesday that its "flash" index of manufacturing purchasing managers' sentiment fell to an eleven-month low in July.

Hong Kong's Hang Seng index added 0.2%, the Shanghai Composite index declined by 0.5%, and Tokyo's Nikkei edged down by 0.3%.

First Published: July 24, 2013: 4:59 AM ET

Source: http://feedproxy.google.com/~r/rss/money_topstories/~3/4p01GrpA5xs/index.html

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