U.S. stock futures are lower in pre-market trading for Wednesday, March 21.The Nasdaq Futures are trading at 6,896.50 with a loss of -0.25% percent or -17.25 point.The S&P 500 Futures are trading at 2,721.75 with a loss of -0.06% percent or -1.75 point.The Dow Futures are trading at 24,747.00 with a loss of -0.07% percent or -18.00 point.
In overnight trading in the Eastern Hemisphere, Japan’s Nikkei 225 are trading at 21,380.97 with a loss of -99.93 percent or -99.93 point. Hong Kong’s Hang Seng are trading at 31,531.28 with a loss of -0.06% percent or -18.65 point. China’s Shanghai Composite are trading at 3,280.95 with a loss of -0.29% percent or -9.69 point. India’s BSE Sensex are trading at 33,198.87 for up with +0.61% percent or +202.11 point at 12:15 PM.The FTSE 100 are trading at 7,035.89 with a loss of -0.36% percent or -25.38 point. Germany’s DAX are trading at 12,333.43 for up with +0.21% percent or +26.10 point. France’s CAC 40 are trading at 5,252.10 with a loss of -0.01% percent or -0.32 point. The Stoxx Europe 600 are trading at 375.42 with a loss of -0.05% percent or -0.17 point.
Wednesday’s Factors and Events
A surface-level glance at Apple’s first-quarter operating results in the previous two quarters could lead investors astray in an analysis of the tech giant’s services business. Apple’s operating data shows services revenue rising 34% year over year in the fourth quarter of fiscal 2017 and 18% year over year in the first quarter of fiscal 2018. This implies a significant deceleration in the segment’s year-over-year revenue growth rates.
But adjustments for a one-time item in the fourth quarter of 2017 and a shorter first quarter show the opposite is actually true. After these changes, Apple’s services business is actually seeing accelerating growth. Adjusted services revenue was up 24% year over year in Q4 and 27% year over year in Q1.
Tuesday’s Activity
U.S. market were higher on Tuesday. For the day the Dow Jones Industrial Average closed at 24,727.27 for up with +0.47% percent or +116.36 point. The S&P 500 closed at 2,716.94 for up with +0.15% percent or +4.02 point. The Nasdaq Composite closed at 7,364.30 for up with +0.27% percent or +20.06 point.
Other leading market index closes included the small-cap Russell 2000 Index closed at 1,570.41 with a loss of -0.01% percent or -0.16 point; the S&P 600 Small-Cap Index closed at 959.43 with a loss of -0.07% percent or -0.71 point; the S&P 400 Mid-Cap Index closed at 1,918.74 for up with +0.06% percent or +1.17 point; the S&P 100 Index closed at 1,192.43 for up with +0.03% percent or +0.32 point; the Russell 3000 Index closed at 1,609.98 for up with +0.14% percent or +2.29 point; the Russell 1000 Index closed at 1,506.62 for up with +0.16% percent or +2.34 point; and the Dow Jones U.S. Select Dividend Index closed at 24,727.27 for up with +0.47% percent or +116.36 point.