MARKET SNAPSHOT: U.S. Stocks: Futures Higher After Strong Earnings

By Barbara Kollmeyer, MarketWatch

LONDON (MarketWatch) -- U.S. stock markets were set to open higher on Wednesday, as earnings from Boeing Co. and PepsiCo Inc. propel gains and Microsoft Corp. and Apple Inc. lift the Nasdaq 100 index.

Futures for the Dow Jones Industrial Average (DJU4) rose 19 points to 17,052, while those for the S&P 500 index (SPU4) were up 3.5 points to 1,978.40. Futures for the Nasdaq-100 index (NDU4) gained 14.50 points to 3,965.00.

The data calendar is empty for Wednesday, leaving investors to fix their attention on corporate earnings. Boeing (BA) climbed 1.7% in premarket trade after the plane manufacturer lifted its core earnings-per-share outlook for 2014.

PepsiCo (PEP) picked up 2.2% ahead of the bell after the company's second-quarter profit beat estimates and it lifted earnings guidance.

Delta Air Lines Inc. shares (DAL) climbed 1.3% after the company reported second-quarter profit per share that was in line with expectations and sales that barely missed forecasts.

Whirlpool Corp.(WHR) posted weaker-than-expected earnings, and shares were off over 6.1% in premarket trade.

After the close, earnings from Facebook Inc. (FB) and AT&T Inc. (T) will be among the highlights.

Investors also saw reaction to big tech earnings that came late Tuesday. Apple (AAPL) shares climbed 1% in premarket action after earnings that topped expectations. Also read: 5 reasons why Apple shares could rise another 16% this year.

Microsoft shares climbed 2.1% ahead of the market open after an analyst's upgrade. The company late Tuesday reported a 7.1% fall in quarterly profit, disappointing Wall Street forecasters, as it took a financial hit from the purchase of Nokia Corp's (NOK) cellphone unit.

Stock futures appeared to be building on Tuesday's gains for markets. The S&P 500 (SPX) finished up 0.5%, to 1,983.56, just shy of its record closing level reached July 3.

Among other markets, the Stoxx Europe 600 index edged up 0.3% Wednesday, while Asia also logged a mostly-higher finish.

Crude oil prices (CLU4) rose ahead of key supply data, while gold prices (GCU4) edged up slightly. The dollar rose against the British pound (GBPUSD)(GBPUSD) after minutes from the Bank of England's July meeting showed all members voted to keep monetary policy loose.

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