US Stock Futures Down As Investors Await Economic Data

US stock futures are lower this morning, as investors are awaiting data on demand for durable goods. Futures for the Dow Jones Industrial Average dipped 78 points to 11,063.00 and S&P 500 index futures fell 7.80 points to 1,150.80. Nasdaq 100 futures dropped 13.00 points to 2,111.00. US stocks closed higher on Tuesday, with the Dow Jones Industrial Average gaining 2.97% to 11,176.76, the S&P 500 index rising 3.43% to 1,162.35 and the Nasdaq 100 index surging 4.29% to 2,446.06. Data on July durable goods orders will be released at 8:30 a.m. ET. The FHFA house price index for June will be released at 10 a.m. ET. Applied Materials Inc AMAT is expected to report its Q3 EPS at $0.33 on revenue of $2.68 billion. Collective Brands Inc PSS is projected to report its Q2 EPS at $0.14 on revenue of $868.02 million. American Eagle Outfitters Inc AEO is estimated to report its Q2 EPS at $0.11 on revenue of $650.78 million. TiVo Inc TIVO is estimated to post a Q2 loss at $0.20 per share on revenue of $47.60 million. Guess? Inc GES is projected to report its Q2 earnings at $0.81 per share on revenue of $656.38 million. Avago Technologies Ltd AVGO reported better-than-expected quarterly profit. La-Z-Boy Inc LZB reported its Q1 earnings at $45.5 million, or $0.85 per share, versus a loss of $216,000, or break even earnings, in the year-ago period. Excluding a one-time tax gain, La-Z-Boy's earnings came in at $0.04 per share. Its revenue climbed 6.4% to $280.1 million. However, analysts were expecting earnings of $0.06 per share on revenue of $278.7 million. Germany's Ifo business climate index dropped to 108.7 in August, from 112.9. European markets were higher today. The STOXX Europe 600 Index gained 0.34%, London's FTSE 100 Index moved up 0.13%, French CAC 40 index rose 0.70% and German DAX 30 index gained 1.08%. Asian markets ended lower, with Japan's Nikkei Stock Average dropping 1.0151%, Australia's S&P/ASX 200 moving down 0.10% and China's Shanghai Composite declining 0.51%. Hong Kong's Hang Seng Index fell 2.0565% and India's Sensex dipped 1.47%. Moody's Investors Service lowered Japan's rating from “Aa2” to “Aa3.” Nymex crude oil futures dropped $0.27 to trade at $85.17 a barrel in electronic trade. However, gold futures dipped $10.70 to trade at $1,850.60 an ounce. The dollar fell 0.17% against the Japanese yen to trade at ¥76.5350. The euro gained 0.13% versus the dollar to trade at $1.4460.