Stock futures rise as investors digest more earnings reports

Stock futures rise as investors digest more earnings reports


Traders on the floor of the NYSE, April 4, 2022.

Source: NYSE

Stock futures rose in 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 80 points, or 0.2%. S&P 500 futures ticked up 0.4% and Nasdaq 100 futures gained 0.6%.

First-quarter reports drove after-hours moves Wednesday. Tesla rose 6% after posting better-than-expected earnings, while United added more than 7% after it forecast a profit in 2022.

Stocks are coming off a mixed regular trading session Wednesday. The Dow rose 280 points, or 0.8%, boosted by strong earnings from Procter & Gamble, while the technology-heavy Nasdaq Composite was dragged down 1% by Netflix’s post-report plunge. The S&P 500 finished flat.

Netflix shares on Wednesday posted the biggest one-day decline since 2004 after the streamer reported its first subscriber loss in more than a decade. Other streaming companies like Disney and Roku also fell, and other tech stocks were lower.

“It continues to be a pretty bifurcated market,” said Dave Grecsek, managing director in investment strategy and research at wealth management firm Aspiriant. “Some of the more defensive, value-style companies are enjoying good returns. The flipside is some of those more growth-style tech names are going to be struggling.”

Investors are awaiting quarterly reports from companies like AT&T, American Airlines and Snap on Thursday.

Weekly jobless claims are also slated for release Thursday morning.



Source

JPMorgan hired NOAA’s chief scientist to advise clients on navigating climate change
Finance

JPMorgan hired NOAA’s chief scientist to advise clients on navigating climate change

Key Points Sarah Kapnick started her career in 2004 as an investment banking analyst, but was struck by how little climate change was being factored into financial decision making. She later became the chief science officer at the National Oceanic and Atmospheric Administration (NOAA) Last year, JPMorgan hired Kapnick back into banking, where she’s advising […]

Read More
Daniel Loeb’s next task as his hedge fund turns 30: Avoiding becoming ‘AI roadkill’
Finance

Daniel Loeb’s next task as his hedge fund turns 30: Avoiding becoming ‘AI roadkill’

Daniel Loeb has found himself a new goal as his hedge fund Third Point entered its milestone 30th year: To be a true winner in the red-hot artificial intelligence boom and not run over by it. “Change is happening at an ever accelerating and increasing rate and it’s just going to require us to continue […]

Read More
Stocks making the biggest moves midday: Costco, Palantir, Gap, Ulta Beauty and more
Finance

Stocks making the biggest moves midday: Costco, Palantir, Gap, Ulta Beauty and more

Check out the companies making headlines in midday trading: Costco — The wholesaler gained more than 3% on fiscal third-quarter results that surpassed analysts’ estimates, while sales jumped 8% from the same period a year ago. Ulta Beauty — Shares of the beauty retailer skyrocketed nearly 13% to hit a 52-week high after the company […]

Read More