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It seems that despite Apple's upbeat earnings last night, stock futures are still indicating a lower start from the market. Even the Nasdaq, which indeed got a boost from Apple earlier in the morning, is now in negative territory. As subprime concerns continue, the S&P 500, which doesn't have the tech bias, is indicating an even lower start. Unless some economic data and most earnings surprise to the upside another down day awaits U.S. stocks.

Yesterday markets were somewhat volatile as stocks started strong, later lost some ground on housing data, only to finish the day higher. After the close Apple Inc. (NASDAQ: AAPL) reported stellar results that beat the Street's estimates. Shares rose some 7% in after-hours trading.

Today, some economic data is scheduled for release:
At 8:30 a.m., before the market opens, June durable goods orders, which is expected to show an increase, and weekly jobless claims will be reported.
At 10:00 a.m., the Commerce Department is due to release June new home sales. The expectation is for yet another drop in sales.

Overseas, Asian indexes were mixed. Chinese stocks surged to a new high, boosted by expectations of stronger corporate profits despite government efforts to cool the sizzling economy, while Hong Kong set intraday records after the Chinese government eased overseas investment limits for insurance companies. Japanese shares, however, declined. European shares have a busy day from earnings perspective with Vivendi, Royal Dutch Shell and EADS reporting. European markets, which started the day steady, are now trading lower.

Corporate news:

Qualcomm Inc. (NASDAQ: QCOM) and Symantec Corp (NASDAQ: SYMC) reported last night, both beating estimates and are both up significantly in premarket trading.

Earnings are already coming in en-masse this morning. Dow companies 3M (NYSE: MMM) and Exxon Mobil (NYSE: XOM) are reporting. Ford (NYSE: F) is another company that have already reported and is gaining over 3% in premarket trading. Bristol-Myers Squibb (NYSE: BMY) and Dow Chemical (NYSE: DOW) are reporting.
From overseas, Royal Dutch Shell (NYSE: RDS) and Sony (NYSE: SNE) have already reported as well.

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