Most indexes were sharply higher in early trading on Wall Street today amid a flurry of earnings ahead of the Federal Reserve’s interest rate policy decision, the Associated Press reports. Futures for Dow Jones Industrial Average were up a modest 0.2%, while futures for the S&P 500 rose 1.1% and futures for the tech-heavy Nasdaq climbed 1.8%.
Boeing shares were up 2% after the troubled aircraft manufacturer posted a $1.4 billion second-quarter loss but announced that Robert “Kelly” Ortberg, 64, a former CEO at aerospace supplier Rockwell Collins, would succeed David Calhoun as CEO.
Match Group, which owns the dating app Tinder and others, said revenue from its Hinge app helped boost its second-quarter results. Match shares rose 10.5% before the bell.
Making moves overnight were Microsoft and Starbucks, which reported their latest results after the bell on Tuesday. Microsoft shares fell 3.4% after it reported that revenue from its cloud computing business came in below analyst expectations, despite an otherwise strong quarter. Starbucks gained more than 4% even as it reported weaker sales. Investors were encouraged by the company’s optimism that successful new products and improvements in efficiency would help turn things around in its next fiscal year.
U.S. benchmark crude oil gained $2.64 to $77.38 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, picked up $2.38 to $80.45 per barrel.
The dollar was trading at 149.91 yen early this morning, down from 152.78 yen late Tuesday.
