Sunday, February 25, 2024
HomeBusiness NewsStock futures are flat ahead of another batch of earnings: Live updates

Stock futures are flat ahead of another batch of earnings: Live updates


Lack of downside for the dollar prevents upside for equities, says BTIG's Jonathan Krinsky

Stock futures were little changed Wednesday night as investors took in more big corporate earnings reports.

Futures tied to the Dow Jones Industrial Average rose 27 points, or 0.08%. S&P 500 futures inched higher by 0.01%, and Nasdaq 100 futures were up slightly by 0.04%.

Several companies reported their quarterly results after the bell, including Disney, MGM, Mattel and Affirm. Disney shares gained more than 5% in after-hours trading after the company posted smaller subscriber losses and a beat on top and bottom lines.

Investors have been watching earnings season closely for insight on how companies have fared amid high inflation and clues on how they’re managing going forward.

In the regular trading session, the Dow fell by 207 points, or 0.6%. The S&P 500 slid 1.1% to 4,117 and the Nasdaq Composite dropped 1.7%.

Investors returned their focus to the latest batch of corporate earnings, a day after Federal Reserve Chair Jerome Powell’s remarks that inflation is coming down, but the central bank may not necessarily be ready to slow or stop rate increases.

“The next level that the rally could go to would be about that 4,300, that gets you back to the August high. But then once we would get to 4,300, we’d be trading at 19 and a half times earnings – that’s really, really expensive, unless you have a Fed that’s actively easing policy,” Cameron Dawson, chief investment officer at NewEdge Wealth, told CNBC’s “Closing Bell: Overtime.”

“The technicals have certainly improved – they look better than at any time in 2022 and so we have to respect that – but from a fundamental perspective, we really see a challenge of getting anywhere north of that,” she added.

See also  Ford cuts price of EV Mustang Mach-E, following Tesla's cuts

On Thursday, investors are looking forward to another batch of earnings reports. Hilton, PepsiCo and Kellogg are scheduled to report their results before the bell Thursday morning. PayPal, Lyft and Expedia will report after the market closes.

In economic data, traders are also keeping an eye on weekly unemployment claims, due out at 8:30 a.m. ET.


Source link

James Thomas
James Thomas
Hello, I am James Thomas blogger and content creator who specializes in personal finance and investing at Business Advise. I have been writing for over 5 years and have built a large following of readers who value practical advice and actionable tips. I'm committed to helping people take control of their financial futures and achieve their goals.

Most Popular