Stock futures rise as investors process more earnings reports


Stock futures rose during overnight trading as investors digested more quarterly reports from the likes of Tesla and United Airlines.

Futures on the Dow Jones Industrial Average added about 70 points, or 0.2%. S&P 500 futures were up 0.3% and Nasdaq 100 futures gained 0.5%.

The first quarter reports on Wednesday resulted in out-of-hours moves. Tesla rose about 5% after better-than-expected gains, while United added more than 7% after the airline forecast a profit in 2022.

Shares are coming out of a mixed regular trading session on Wednesday. The Dow rose 280 points, or 0.8%, boosted by strong gains from Procter & Gamble, while the tech-heavy Nasdaq Composite was dragged down 1% by Netflix’s post-report plunge. The S&P 500 ended flat.

Netflix stock registered its biggest one-day drop since 2004 on Wednesday after the streamer reported its first subscriber loss in more than a decade. Other streaming companies such as Disney and Roku also fell and other technology stocks were lower.

“It remains quite a split market,” said Dave Grecsek, director of investment strategy and research at asset manager Aspiriant. “Some of the more defensive, value-type companies have good returns. The downside is that some of those more growth-like tech names will struggle.”

Investors await quarterly reports from companies such as AT&T, American Airlines and Snap on Thursday.

Weekly unemployment claims are also released Thursday morning.

Source link


Please enter your comment!
Please enter your name here