US Stock Futures Up As Investors Await Economic Data; Nike, FedEx To Report Earnings

US stock futures are higher this morning, as investors are awaiting economic data. Futures for the Dow Jones Industrial Average gained 62 points to 11,640.00 and futures on the S&P 500 stock index climbed 9.60 points to 1,263.50. Nasdaq 100 futures rose 9.75 points to 2,218.25.

US stocks closed lower, with the Dow Jones Industrial Average tumbling 242 points, S&P 500 dropping 25 points and Nasdaq Composite declining 51 points.

Data on jobless claims for the latest week and February's consumer-price index will be released at 8:30 a.m. ET. The Federal Reserve is scheduled to release figures on February industrial production. The Philadelphia Federal Reserve Bank is also scheduled to issue its report on economic activity in the Philadelphia area.

Guess Inc GES reported its Q4 earnings at $103.3 million, or $1.11 per share, compared with $86.6 million, or $0.93 per share, in the year-earlier period. The company's revenue increased to $756.9 million from $642 million. GES' same-store sales dropped 1.1%. However, analysts were expecting earnings of $1.06 per share on revenue of $724.5 million. GES projects Q1 earnings of $0.41 to $0.44 per share on revenue of $555 million to $570 million, versus analysts' estimates of $0.62 per share on revenue of $596 million. The company also projects full-year earnings of $3.30 to $3.50 per share on revenue of $2.72 billion to $2.82 billion. However, analysts had expected earnings of $3.50 per share on revenue of $2.74 billion.

Nike Inc NKE is expected to report its Q3 earnings at $1.11 per share on revenue of $5.17 billion. Casual Male Retail Group Inc CMRG is projected to post its Q4 EPS at $0.12 on revenue of $113.01 million.

FedEx Corporation FDX is projected to report its Q4 EPS at $0.82 on revenue of $9.61 billion. Winnebago Industries Inc WGO is estimated to post its Q2 EPS at $0.04 on revenue of $105.90 million. Ross Stores Inc ROST is projected to post its Q4 earnings at $1.37 per share on revenue of $2.12 billion.

Asian markets ended lower, with Japan's Nikkei Stock Average dropping 1.44%, Australia's S&P/ASX 200 falling 0.12% and China's Shanghai Composite declining 1.14%. Hong Kong's Hang Seng index fell 1.83% and India's Sensex dropped 1.05%. As expected, the Reserve Bank of India (RBI) lifted both its lending and borrowing interest rate by 25 basis points. RBI also raised its inflation projections.

Positive sentiment ruled the European markets today. While STOXX Europe 600 Index has gained 0.73%, London's FTSE 100 Index moved up 0.69%.

Nymex light crude for April delivery gained 1.48%, or $1.45 to 99.43 a barrel on the Globex market.

The US dollar fell versus both the yen and the euro. The dollar dropped 0.2% against the Japanese yen to ¥78.923. However, the euro gained 1% to $1.4016 against the dollar.

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