U.S. index futures climbed, following the biggest drop in the Dow Jones Industrial Average (INDU) in three weeks, as Apple Inc. and Yahoo (YHOO)! Inc. gained in post-market trading. Australia stocks slipped from a two-month high as oil resumed declines while the yen and Swiss franc advanced.

Nasdaq 100 Index futures increased 0.7 percent to 4,206.75 by 8:43 a.m. in Tokyo, as Apple, the biggest stock on the gauge, traded more than 5 percent above its closing price in extended trading after reporting record earnings. Standard & Poor’s 500 Index futures rose 0.3 percent, while contracts on Japan’s Nikkei 225 Stock Average were bid down 0.4 percent in Osaka. The S&P/ASX 200 Index lost 0.3 percent in Sydney as U.S. crude fell for the fourth time in five days. The yen gained 0.2 percent against the euro, while the franc jumped 0.6 percent.

Apple (AAPL) climbed after market as iPhone sales topped analysts’ estimates, while Yahoo rose as much as 10 percent after announcing a tax-free spinoff of its stake in Chinese e-retailing giant Alibaba Group Holding Ltd. They may help U.S. stocks reverse Tuesday losses, driven by disappointingearnings from Caterpillar Inc. to Microsoft Corp. and an unexpected drop in durable goods orders. The Federal Reserve reports on monetary policy Wednesday in Washington, while Australia updates on inflation and Thailand reviews key interest rates.

“Despite some large Dow names releasing some ordinary earnings figures, Apple came out after the market closed and beat estimates,” Scott Schuberg, chief executive officer at Rivkin Securities in Sydney, said by e-mail. “Given Apple’s size, this may well lift U.S. equity futures and, as a result, brighten up an otherwise ordinary lead for Asian investors.”

Apple climbed to $115.23 in the post market, after closing down 3.5 percent at $109.14 in ordinary trading. Yahoo shares jumped in extended trading after its announcement, which will see Yahoo’s stock in Alibaba put into a newly registered firm called SpinCo. Yahoo also reported fourth-quarter earnings-per-share of 30 cents, just above the 29 cents predicted by analysts.

David Fuller's view

Nerves are a little frayed on Wall Street but if Apple extends that jump to $115 on Wednesday when the US stock market reopens, it will look good on the chart and help market sentiment somewhat.