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Dow Futures Rise On Apple Inc. Launch And Chinese Data

LONDON — Stock index futures at 7am ET indicate that the Dow Jones Industrial Average (DJINDICES: ^DJI) may open up by 0.50% this morning, while the S&P 500 (SNPINDEX: ^GSPC) may open 0.52% higher. The CNN Fear & Greed Index has risen into the neutral zone, and is set to open at 45 today, after closing at 36 yesterday.

European markets rallied this morning, as fears over military action in Syria continued to fade, following Secretary of State John Kerry’s suggestion yesterday that if Syria surrendered its chemical weapons, the US would not attack the country. New data showed that China’s industrial output rose by 10.4% during August compared to the same period last year, while retail sales rose by 13.4%. Both sets of data were slightly ahead of expectations and support the idea that China’s growth story remains intact. At 7am ET, the FTSE 100 was up 0.78%, the DAX was up 1.79%, and the CAC 40 was up 1.37%.

In the US today, the economic calendar is fairly quiet; today’s reports are limited to the NFIB small business index at 7.30am ET, and July’s job opening’s report, at 10am. Investors are likely to be much more focused on corporate news, which is expected to revolve around Apple (NASDAQ: AAPL.US). The $459bn company is expected to announce two new versions of its iPhone at a press event today, including an updated, range-topping iPhone 5S, and a more affordable iPhone 5C. Press reports also suggest that iOS7, a new version of the iPhone’s operating system, may be announced, along with one or more major corporate distribution deals, including a suggested deal with China Mobile, which has over 700m subscribers. Apple stock was 0.5% higher in pre-market trading, after closing up 1.6% yesterday.

Elsewhere in the markets, McDonald’s is expected to publish same-store sales data for August, while Urban Outfitters stock was down 7.8% in after-hours trading and may slide when markets open, after the retailer unveiled disappointing same-store sales figures in an update released after markets closed last night. Neurocrine Biosciences fell 28% in pre-market trading, after reporting disappointing results in a trial of its NBI-98854 product, while Texas Instruments is expected to publish its third-quarter outlook later today.

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> Roland does not own shares in any of the companies mentioned in this article. The Motley Fool owns shares in Apple.