US STOCKS-S&P 500, Dow set for record open as investors eye tech earnings

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Fb gains on outcomes, fragment buyback opinion

3M falls as provide chain disruptions hit outlook

UPS rises as outcomes beat on e-commerce question

Futures up: Dow 0.32%, S&P 0.39%, Nasdaq 0.57% (Provides comment, little print; updates costs)

By Devik Jain and Shashank Nayar

Oct 26 (Reuters) – The S&P 500 and the Dow had been space for document originate on Tuesday as Fb rose after its quarterly outcomes and a fraction buyback opinion, turning the spotlight on its technology buddies space to file later in the day.

Fb Inc rose 0.8% in premarket buying and selling at the same time as the social media large warned that Apple Inc’s sleek privacy changes would weigh on its digital enterprise in the present quarter. The firm introduced $50 billion in fragment buybacks, while posting a 17% upward thrust in third-quarter profit.

“Fb has had a few passe periods no longer too prolonged in the past and it beating profit estimates for the quarter has offered enhance to the stock, but it’s miles no longer out of the woods yet with a lower guidance main to a couple caution amongst investors,” said Robert Pavlik, senior portfolio supervisor at Dakota Wealth in Fairfield, Connecticut.

Shares of Twitter Inc, which also generates income by selling digital commercials, added 1.4% forward of its outcomes on Tuesday.

Eyes are also on quarterly updates from Alphabet Inc and Microsoft Corp after market shut, with focal level on how Google’s ad income fares. Their shares, coupled with other enhance names and Apple, had been up between 0.3% and 1.5%.

United Parcel Service Inc won 4.0% after the supply firm reported a 23% upward thrust in quarterly profit, bolstered by high e-commerce question.

Some stellar earnings reports own helped power the Dow and the S&P 500 to document highs, lifting investor sentiment in October after concerns around inflation, the Fed’s tapering and property team China Evergrande’s disaster rattled markets final month. The tech-heavy Nasdaq is buying and selling about 1.2% below its Sept 7 document high.

Earnings at S&P 500 companies are anticipated to grow 34.8% year-on-year for the third quarter, with market people assessing how companies are navigating provide-chain bottlenecks, labor shortages and inflationary pressures. Industrial conglomerates General Electric Co and 3M Co flagged concerns around world provide chain disruptions and hovering raw enviornment cloth costs hitting their agencies.

Despite the indisputable truth that shares of General Electric rose 1.5% after it raised its fleshy-year earnings forecast, 3M Co slipped 0.6% on reducing its annual profit outlook.

“Inflation and provide chain troubles don’t seem to be a local in the near time length as the market magnificent now is magnificent centered on the quarterly performance and with unruffled benchmark rates, it easiest helps with the mood,” Pavlik said.

At 8: 44 a.m. ET, Dow e-minis had been up 114 facets, or 0.32%, S&P 500 e-minis had been up 17.75 facets, or 0.39%, and Nasdaq 100 e-minis had been up 88.75 facets, or 0.57%.

On the financial files entrance, client self belief files for October is due at 10 a.m. ET.

Gains in economically sensitive industrials Boeing Co and Caterpillar Inc also boosted the futures tracking the blue-chip Dow.

Tesla Inc slipped 0.7%, a day after the electric-carmaker surpassed $1 trillion in market effect after landing its greatest-ever notify from rental vehicle firm Hertz. (Reporting by Devik Jain and Shashank Nayar in Bengaluru; Bettering by Maju Samuel)

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