Apple falls in heavy volume, but may find support


Credit: Reuters/Brendan McDermid


Traders work on the floor of the New York Stock Exchange September 22, 2014.


* The S&P 500 .SPX snapped a three-day losing skid on Wednesday in a broad advance, led by healthcare and biotech stocks, with gains in the housing sector also providing support after surprisingly strong data on the sector.


* Weekly initial jobless claims data, due at 8:30 a.m. (1230 GMT), may provide investors with some insight on the health of the labor market. Expectations call for claims to rise to 300,000 from the 280,000 in the prior week.


* Investors will also eye August durable goods data at 8:30 a.m. (1230 GMT). Expectations call for a decline of 18 percent after posting a 22.6 percent jump, its biggest gain on record, in July.


* At 9:45 a.m. (1345 GMT), financial data firm Markit will release its preliminary services Purchasing Managers Index for September. The estimate stands at 59 against the final 59.5 reading posted for August.


* Apple (AAPL.O) shares were trading down 0.7 percent to $101.05 before the opening bell. The company released a workaround for iPhone 6 and iPhone 6 Plus users who reported a drop in cellular service and the inability to use the fingerprint reading Touch ID after downloading the iOS 8.0.1 mobile operating system.


* Jabil Circuit (JBL.N) was climbing 3.9 percent to $21.67 in light premarket trade after the contract electronics maker forecast current-quarter revenue and core earnings above market estimates.


* Earnings are expected after the closing bell from Micron Technology (MU.O) and Nike Inc (NKE.N).


* LabCorp (LH.N) said it had agreed to acquire LipoScience Inc (LPDX.O) for about $5.25 per share in cash, or $85.3 million.


* Asian stocks slipped, giving back earlier gains as initial cheer from the rebound on Wall Street fizzled out while European shares gained ground, as a further drop in the euro fueled expectations of a boost to the region's corporate earnings.


* S&P 500 e-minis ESc1 were falling 0.5 points, or 0.03 percent, with 88,482 contracts changing hands.


* Nasdaq 100 e-minis NQc1 were down 2.25 points, or 0.06 percent, in volume of 14,326 contracts.


* Dow e-minis 1YMc1 were up 2 points, or 0.01 percent, with 13,259 contracts changing hands.


(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)


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