Stock futures are flat in overnight trading ahead of key corporate earnings: Live updates

Stock futures are flat in overnight trading ahead of key corporate earnings: Live updates


Traders on the floor of the New York Stock Exchange on Aug. 4, 2022.

Source: NYSE

Stock futures were flat in overnight trading Monday as investors awaited key corporate earnings and the beginning of the Federal Reserve’s policy meeting.

Futures on the Dow Jones Industrial Average inched up 20 points. S&P 500 futures and Nasdaq 100 futures both traded 0.1% higher.

Quarterly results from Merck, Pfizer, PayPal, Procter & Gamble and JetBlue before the bell Tuesday could dictate market sentiment during the session. Investors will also watch closely for numbers from Microsoft, Advanced Micro Devices and Starbucks after the closing bell.

So far, more than 40% of the S&P 500 companies have reported their results with 79% posting earnings that exceeded Wall Street expectations, according to LSEG. That compares to a five-year average earnings beat rate of 77%.

“Both 2024 and 2025 consensus EPS are holding up, with 2024 EPS tracking a typical non-recessionary year revision trend. This suggests that analysts are relatively comfortable with their estimates,” Savita Subramanian, Bank of America’s head of U.S. equity and quantitative strategy, said in a note. “Corporate
commentaries are also relatively sanguine.”

The Fed’s two-day policy meeting is set to begin Tuesday where central bank Chief Jerome Powell could signal the timing and number of rate cuts expected in the next few months. The Fed previously projected only one rate cut for the remainder of 2024, and traders have priced in a 100% chance for a September rate reduction, according to the CME FedWatch Tool.

“Inflation is trending lower, supporting Federal Reserve rate cuts,” said Seema Shah, chief global strategist at Principal Asset Management. “This, coupled with a still robust economic outlook and strong corporate earnings, should bolster risk assets and lead to a broadening of returns away from just technology.”



Source

Toyota Industries’ shares nosedive on  billion buyout deal — steepest fall in 10 months
World

Toyota Industries’ shares nosedive on $33 billion buyout deal — steepest fall in 10 months

The Toyota Industries Corp. logo at the company’s Nagakusa plant in Obu, Aichi Prefecture, Japan. Bloomberg | Bloomberg | Getty Images Shares of Toyota Industries slumped as much as 13% Wednesday, after Toyota Group’s reported 4.7 trillion yen ($33 billion) deal to take the company private. That includes a tender offer of $26 billion for shares of Toyota Industries […]

Read More
Australia’s first-quarter economic growth stays flat at 1.3%, missing estimates
World

Australia’s first-quarter economic growth stays flat at 1.3%, missing estimates

Sydney Harbour and the skyline of the central business district (CBD) in Sydney, Australia, on Tuesday, April 29, 2025. Bloomberg | Bloomberg | Getty Images Australia’s economy grew less than expected in the first quarter this year, the Australian Bureau of Statistics said in a statement Wednesday, as growth stalled amid the simmering global trade […]

Read More
Asia-Pacific markets set to open mostly higher after tech rally lifts Wall Street
World

Asia-Pacific markets set to open mostly higher after tech rally lifts Wall Street

Landscape of Songdo International City. Incheon, South Korea. Photograph By Kangheewan. | Moment | Getty Images Asia-Pacific markets were set to open mostly higher Wednesday after Wall Street rose on the back of a tech rally, led by chipmaker Nvidia. Shares in the artificial intelligence darling advanced nearly 3%, extending Monday’s gains and driving Nvidia’s […]

Read More