US STOCKS-Futures little changed ahead of Apple earnings
The dollar index was down marginally at $97.88, itshighest level since April on firming expectation of a U.S.interest rate hike later in the year.
US stock index futures were littlechanged on Tuesday ahead of a raft of earnings from technologygiants, including Apple, and as the dollar continued totrade at a three-month high.
* The dollar index was down marginally at $97.88, itshighest level since April on firming expectation of a U.S.interest rate hike later in the year.
* A fall in commodities capped gains on Monday with gold andother precious metals trading near five-year lows.
* Oil prices continued their downward spiral with US crudeoil falling below $50 earlier on Tuesday.
* Tech giants such as Yahoo, Microsoft andApple are scheduled to report results after theclosing. Strong earnings from technology companies have beendriving gains in the Nasdaq.
* On Friday, the Nasdaq composite touched a new intra-dayhigh for the third straight day while the S&P 500 was just shyof its all-time high.
* While markets are at record highs, June-quarter earningsof S&P 500 companies are expected to dip 2.1 percent, withrevenue dropping 2.1 percent, according to Thomson Reuters data.
* Of the companies that have reported earnings so far, 70percent have reported earnings above analyst expectations, abovethe 63 percent average beat rate since 1994.
* However, 55 percent have topped revenue forecasts, belowthe 61 percent average beat rate since 2002. US companies wereexpected to post their worst sales decline in nearly six yearsin the second quarter, in part due to the strong dollar thatreduces the value of U.S. companies' overseas income.
* International Business Machines Corp's shares fell5 percent to $164.46 in premarket trading, a day after thecompany's revenue fell for the 13th consecutive quarter.
* Qualcomm was up 3.1 percent to $65.78 after atech website said the chipmaker is preparing to lay off severalthousand employees, or more than 10 percent of its 30,000-strongworkforce.
* United Technologies fell 2.2 percent to $108.01after the company cut its full-year profit outlook as it warnedof pressures in its aerospace systems and Otis elevatorsbusinesses.Futures snapshot at 7:17 a.m. ET (1117 GMT):* S&P 500 e-minis remained unchanged, with 52,605contracts traded.
* Nasdaq 100 e-minis were up 6.75 points, or 0.14percent, on volume of 10,143 contracts.
* Dow e-minis were down 15 points, or 0.08 percent,with 7,261 contracts changing hands.