The Associated Press January 18, 2011, 9:05AM ET

Stocks set for mixed opening ahead of earnings

Stocks are headed for a mixed opening Tuesday as Wall Street weighed another round of corporate earnings reports. Apple's stock is dragging the technology-heavy Nasdaq lower in pre-market trading.

Apple CEO Steve Jobs announced Monday he will take a medical leave of absence to focus on his health. The news came on a day when U.S. markets were closed. Apple's stock was down 5 percent in pre-market trading Tuesday.

The company is also set to report earnings after the market closes. Several other big-name companies, including Citigroup, Delta Air Lines and TD Ameritrade, released results Tuesday morning.

Citigroup fell 4.5 percent in pre-market trading. The bank said its losses from loans declined, although its earnings still missed analysts' expectations.

Delta fell nearly 4.7 percent in pre-market trading after its earnings fell short of analysts' expectations. The company also said it planned to increase its flying capacity in the first quarter, although some investors may question if there's enough demand to support it.

TD Ameritrade fell 3.6 percent in pre-market trading as the online brokerage reported a decline in average trades per day. Nonetheless, its overall revenue and net income rose.

Ahead of the opening bell, Dow Jones industrial average futures are up 15, or 0.1 percent, at 11,740. Standard & Poor's 500 futures are down 1, or 0.1 percent, at 1,289. Nasdaq 100 index futures are down 17, or 0.7 percent, at 2,303.

European markets rose after Greece raised $865 million in another successful bond auction.

Bond prices climbed, pushing yields lower. The yield on the 10-year Treasury note, which moves opposite its price, fell to 3.29 percent from 3.32 percent late Friday. Those yields affect interest rates on a variety of business and consumer loans, including mortgages.

The Treasury Department is set to report on foreign demand for U.S. debt in November later Tuesday. The report comes just a day before a state visit by Chinese President Hu Jintao. China and other countries continue to show a strong demand for Treasury debt even as the annual U.S. budget deficit rises above $1 trillion.

The National Association of Home Builders will also release its January housing market index, which measures homebuilder confidence.


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