UPS misses on top and bottom line but S+P 500 futures hold ground

The first results from a number of S+P 500 companies reporting today have just been released from one of the larger companies- United Parcel Services. Those have actually missed on the top and the bottom line. On the face of it their results are actually a little disappointing, but that has not yet had a negative impact on the S+P 500 futures. The simple reason for that would appear to rest with the news; that UPS has relaunched its share buy-back program- to the tune of $1 billion annually. Perhaps were it not for that, the share price would be much lower in the premarket. It is lower all the same though. Meantime, the S+P 500 futures are higher and right now pricing the opening at around 5,564. To remind the reader, that is exactly where the index closed yesterday, but it was priced to reopen lower earlier today. Of course the big test for the index will come after the closing bell tonight- more on that later