Market Insider

Apple earnings will steer stocks

Thursday's data dump

Apple dazzled investors with a big earnings beat, a dramatic 7-for-1 stock split, another big buyback and dividend hike that should boost sentiment up and down Wall Street.

Besides the afterglow from Apple's news, dozens of earnings reports will steer the market Thursday—including early morning reports from Caterpillar, 3M and Verizon, and Microsoft report after the close.

Apple earnings also beat on the top and bottom line—with earnings of $11.62 per shares on revenue of $45.6 billion, well above the expected $10.18 per share and revenue of $43.53 billion. IPhone sales were much stronger, but iPad sales were weak.

The stock, after a brief halt, shot up more than 8 percent in after-hours trading to $567.50, and could lift stocks Thursday.