US pre-open: Stocks seen slightly higher as investors eye Apple
US futures pointed to a slightly firmer open on Wall Street as investors awaited the release of earnings from technology giant Apple.
At 1140 BST, Dow Jones Industrial Average and S&P 500 futures were up 0.1% and 0.2%, respectively, while Nasdaq futures were 0.3% higher.
Oil prices advanced, with West Texas Intermediate up 0.7% to $50.85 a barrel and Brent crude 0.4% stronger at $51.67.
CMC Markets' Jasper Lawler said: "US stocks are expected to open higher with Apple scheduled to report earnings after the close. Apple’s Q3 report has been slightly tainted by estimates from IDC that Apple Watch sales are down over 70% year-over-year, though still the biggest selling smart watch.
"The Apple Watch is the most desirable smart watch but sales figures suggest most consumers have no desire for smart watches. Investors will have to look elsewhere for the next big break-through product from Apple."
Meanwhile, Jamieson Blake, retail sales manager at ADS Securities London, said: “Taking a slightly broader view, markets continue to price in both a win for Clinton and a rate hike before the year is out. Again any change here could serve to give stocks another leg higher, although the big concern is that valuations are already looking overstated. It may be calm at the moment, but the absence of volatility shouldn't last for long.”
In corporate news, Whirlpool slid in pre-market trade after its third-quarter earnings missed estimates and the company cuts its earnings guidance for full-year 2016.
Eli Lilly was also under the cosh as its third-quarter earnings per share of 88 cents fell short of forecasts for 96 cents.
DuPont was little changed in pre-market trade after it reported third-quarter earnings per share of 34 cents versus analysts’ expectations of 21 cents and upped its profit outlook for the year.
Earnings releases are still due from Merck, General Motors and Procter & Gamble before the open, while all eyes will be on Apple after the close.
On the macroeconomic calendar, S&P/Case-Shiller house price figures are due at 1400 BST, while US consumer confidence data is at 1500 BST.