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US stock futures lower on earnings, ahead of Fed

January 29, 2014

NEW YORK (AP) — U.S. stock futures were lower Wednesday as investors assessed the latest company earnings reports and awaited news from the Federal Reserve, which wraps up its two-day policy meeting later in the day.

KEEPING SCORE: Dow Jones industrial average futures are down 135 points to 15,741 before the opening bell. Standard & Poor’s 500 index futures are down 14 points to 1,774. Nasdaq futures are down 29 points to 3,471.

NOT GOOGLE: Yahoo’s stock fell $1.87, or 4.9 percent, to $36.35 in premarket trading after the company reported a drop in fourth-quarter revenue late Tuesday that disappointed investors. The internet company reported a 6 percent decline in quarterly revenue, the same rate of decline experienced for all of 2013.

PLANE DISAPPOINTEMENT: Boeing fell $5.24, or 3.8 percent, to $131.87 in premarket trading, after the plane maker said that 2014 revenue and profit would be lower than analysts have been expecting.

TREASURYS AND COMMODITIES: Bonds rose. The yield on the 10-year Treasury note fell to 2.72 percent from 2.75 percent on Tuesday. The price of oil fell 44 cents to $96.99 a barrel. Gold rose $16.40, or 1.3 percent, to $1,267 an ounce.

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