Having hit fresh highs yesterday, the major benchmarks are set to take a step back today.
Spread betting quotes point to the Dow Jones average opening at around 18,584, down from last night’s record closing level of 18,636 while the broader-based S&P 500 is tipped to open its account at around 2,184, down six points or so from last night’s all-time high closing value.
The market’s biggest stock by market value, Apple Inc (NASDAQ:AAPL), was nudging higher in pre-market trade as legendary investor Warren Buffett upped his stake through his investment vehicle, Berkshire Hathaway Inc (NYSE:BRK.A).
Sporting equipment seller Dick’s Sporting Goods Inc (NYSE:DKS) looks set to hit a new personal best when trading commences on the back of better-than-expected results.
The shares were 8.5% higher at US$59.55 in screen-based trading as like-for-like sales in July were 2.8% higher year-on-year, confounding analysts who had expected a decline.
Elsewhere in the retail sector TJX Companies Inc (NYSE:TJX), the parent company of TJ Maxx, fared less well, sliding 3.7% to US$79.75 in pre-market trading as its earnings guidance for the third quarter was below the market consensus.