Market pins hopes on Shadow Backstop

Stock market snapshot as of [1/5/2019 2:40 PM]

With few exceptions, European stock markets are closed for labour holidays though participants remain interested enough to bid futures firmly higher
Investors here are partly responding to another stellar set of U.S. technology sector earnings
A huge beat by ADP’s unofficial curtain-raiser before Friday’s U.S. payrolls—275,000 when 175,000 were forecast—is another positive for markets to look forward to when they return on Thursday
Wall Street is getting a similar boost, with Apple helping Nasdaq indices recover from Alphabet-induced declines, and the Dow to narrow the lag to the broader market’s gains
The main event ahead is the Federal Reserve’s policy statement and press conference. Markets clearly expect the Fed to remain ‘patient’. This would maintain a benign back drop for risk appetite

Corporate News

Apple’s surprise projection of a muscular rebound in third quarter revenues is in focus, particularly after Q2 sales and profits also beat Wall Street’s view
With Apple shares rising sharply, despite a more than 40% ascent into Tuesday’s close, investors appear to be anticipating signs of a stabilisation in iPhone sales
Earnings beats from Big Pharma groups Merck and Pfizer help repair Dow Jones Industrial Average underpinnings and of the 'value' side of the street in general

Upcoming corporate highlights

AMC: after market close

Upcoming economic highlights

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