After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace.Asia Marketsread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
The Washington governor had centered his campaign around climate change, calling it "the most urgent challenge of our time."Politicsread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
The sexy image that once boosted Victoria's Secret has been haunting L Brands more recently, as women are steering clear of the brand's hot pink, lacy and bejeweled lingerie.Retailread more
Ford is one of four automakers that reached a voluntary agreement with California on fuel efficiency rules, defying Trump and his administration's effort to strip the state of...Autosread more
See which stocks are posting big moves after the bell.Market Insiderread more
"I'd love to say that the optimistic universe is most likely to prevail, but the talking heads talk endlessly about how a recession is inevitable," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.)
* Apple shares jump on upbeat results, forecast
* Modest drop in U.S. borrowing costs widely expected
* Futures up: Dow 0.29%, S&P 500 0.23%, Nasdaq 0.43% (Updates prices, adds comments)
July 31 (Reuters) - U.S. stocks were set to open higher on Wednesday, as concerns over the impact of the U.S.-China trade war eased after Apple's upbeat earnings report, while investors awaited an almost certain cut in interest rates by the Federal Reserve.
Shares of the iPhone maker were up about 4% in premarket trading after the company beat quarterly profit and revenue expectations, and forecast strong sales for the current quarter. Apple also said its greater China sales dipped only slightly.
"Multinational companies have been hit by the trade war, but with a positive on Apple, it does take some of fears away from the impact of the dispute," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
The U.S.-China trade talks concluded on Wednesday without any major breakthrough, a day after global stocks lost footing as President Donald Trump warned Beijing against trying to wait out his first term in office to finalize a deal.
The Chinese commerce ministry said the two sides will meet again in the United States in September.
Meanwhile, market participants are expecting a quarter-percentage-point cut in borrowing costs by the U.S. central bank. All eyes will now be on Fed Chairman Jerome Powell, who is set to hold a news conference after the rates decision at 2 p.m. EDT (1800 GMT), to explain why the move was necessary and what comes next.
Investors are looking at Powell to appropriately justify his move by pointing to global growth being hurt by the U.S.-China trade war, Cardillo said.
Wall Street's main indexes have had a strong run since a steep selloff in May, with the S&P 500 index now up 20% for the year on hopes that a modest rate cut would help combat slowing growth and boost tame inflation.
At 8:38 a.m. ET, Dow e-minis were up 79 points, or 0.29%. S&P 500 e-minis were up 7 points, or 0.23% and Nasdaq 100 e-minis were up 34.25 points, or 0.43%.
Electronic Arts Inc jumped 5.9% after the video game publisher posted quarterly revenue beat, riding on the continued success of its battle royale game "Apex Legends".
Advanced Micro Devices Inc slipped 4.3% after it forecast third-quarter revenue below Wall Street estimates, hit by lower demand for its chips used in gaming consoles.
Its forecast weighed on Micron Technology, Nvidia Corp and Intel Corp, which dropped between 0.3% and 1.5%.
General Electric Co's shares rose 3.4% after the industrial conglomerate said Chief Financial Officer Jamie Miller was stepping down. The company also said it swung back to a financial loss during the second quarter.
The ADP National Employment Report, often considered a precursor to the Labor Department's more comprehensive monthly non-farm payrolls data, showed private employers added 156,000 jobs in July, above economists' expectations and supporting the view of a firm domestic labor market.
The Labor Department's jobs report for the month of July is due on Friday. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur)