Stock Futures – Stock futures rose an inch after the S & P 500 withdrew from record
Futures contracts related to the US major stock index rose at the start of the night session on Wednesday night after the S & P 500 retreated from record levels during a regular session.
Contracts related to the Dow added 50 points, while contracts fixed to the S & P 500 rose about 0.2%. Nasdaq 100 futures also rose 0.2%.
Night session movements put pressure on technology offset optimism caused by the first round of major corporate earnings, which was significantly higher than expected after the S & P 500 fell from record levels during Wednesday’s regular session. It was the cause.
The broad equity benchmark fell 0.4% after setting a new record early Wednesday. The Dow Jones Industrial Average rose by just 53 points.
With the first quarter earnings season now beginning, investors will take a closer look at financial results from snack company PepsiCo, asset manager BlackRock, and both Citigroup and Bank of America on Thursday.
Goldman Sachs exceeded analysts’ past expectations, with first-quarter net income and earnings rising more than 2% due to the company’s equity trading and investment banking performance. The season began in earnest with banking performance on Wednesday.
JPMorgan Chase also exceeded top-line and bottom-line expectations, supported by a $ 5.2 billion profit from releasing funds previously set aside for bad debt losses. This year, bank stocks rose across the board, with the S & P 500 financial sector rising nearly 20% compared to 9.8% for the S & P 500.
Investors will consider the latest Ministry of Labor report on the number of Americans filing their first unemployment insurance claim on Thursday. Economists polled by Dow Jones expect the government to report another 710,000 claims for the first time in the week ending April 10.
March retail sales data, also scheduled for Thursday morning, is expected to show a strong rise in consumer spending, with some economists up more than 10% thanks to the arrival of a $ 1,400 stimulating check. I’m watching. The consensus forecast is a more modest growth of 6.1%.
On Tuesday, the Food and Drug Administration called for a suspension of J & J’s Covid-19 vaccine after six people in the United States developed a rare disorder, including blood clots. The announcement caused a sell-out by resuming play earlier in the week, but is not expected to have a significant impact on the pace of vaccine deployment in the United States.
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