U.S. stocks jump; Nasdaq enjoys best day in 21 months

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MADRID (MarketWatch) - Upbeat Apple results were calling the shots on Tuesday for U.S. stock futures and pushing ahead Nasdaq-100 futures in what otherwise looked like a low-key start.

Investors are waiting on existing home-sales data as well as earnings from the likes of McDonald's Corp., Coca-Cola Co. and others.

Futures for the Nasdaq-100 index rose 15 points, or 0.4%, to 3,881.25. Those for the S&P 500 index rose 4 points to 1,903.60, a gain of 0.2%, while Dow industrials futures rose 18 points to 16,348.

Shares of Apple Inc. rose 2% in thin premarket trading, after the company reported a 13% rise in profit, boosted by strong demand for its new, bigger-screen iPhones and blowing out Wall Street estimates. Morgan Stanley lifted its price target on Apple to $115 from $110, and analysts at the investment bank said strong iPhone demand and gross margin expansion will help drive upside for shares. Also read: How you could have seen Apple's beat coming

The Nasdaq Composite had a strong session on Monday even before Apple reported, gaining 1.4% and bettering the 0.9% gain for the S&P 500 index

Home sales and McDonald's in the spotlight: Economists expect existing-home sales crept higher in September to an annual rate of 5.10 million from 5.05 million in August. That data is due at 10 a.m. Eastern. See the daily data preview

Ahead of that, McDonald's is expected to report earnings of $1.37 per share, while Coca-Cola is expected to report earnings of 53 cents a share, according to FactSet consensus surveys.

Verizon Communications Inc. also reports ahead of the bell, while Yahoo Inc. comes after the close.

Among other stocks that may see action, Chipotle Mexican Grill Inc. warned sales growth may slow, even as it reported stronger-than-expected earnings late Monday.

China growth slows: The Nikkei 225 index fell 2% on Tuesday, which gave the yen a boost across the board, while China's Shanghai Composite Index fell 0.7% after data showed China's economy grew in the third quarter at the slowest pace in five years. Europe stocks rebounded from Monday's losses, helped by a round of solid earnings.

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