Business News: Nasdaq 100 and S&P futures are up after Apple and Facebook hit their ratings..
US stock index futures traded overnight after a large average loss for the day on Wednesday. The Dow Jones Industrial Average recorded 3 points in the futures contract. S&P 500 futures gained 0.2% and Nasdaq 100 futures gained 0.5%.
Apple Pal and Facebook’s good quarterly results from this gave futures a boost. Apple Paul said sales were up 54% in the quarter. The company also said it will increase its dividends by 7% and authorize approximately $ 90 billion in share buybacks. Facebook’s revenue increased 48%, driven by high-value ads.
Major averages closed in the red during normal trading. The Dow slipped 165 points for a loss of 0.48%. The S&P 500 hit a record high but failed to maintain those gains and closed down 0.08%. The Nasdaq Composite fell 0.28%.
The Federal Reserve said Wednesday that it will keep interest rates close to zero. The S&P has slipped from its high after Federal Reserve Chairman Jerome Powell said during a press conference following the Federal Open Market Committee’s decision that there are some signs of foam in the market.
“While there has been no change in current rates and no improvement in economic data, there has been a lot of discussion at today’s Federal Reserve meeting,” said Janus Henderson’s portfolio manager Bethany Payne. “Rising vaccination rates boosts employment and economic fiscal policy boosts household and business incomes, so investors are now looking for signs that the central bank’s safety net may be withdrawn sooner than expected.” , he added.
Thursday is the busiest day for earnings, with around 11% providing quarterly S&P 500 updates. Bruchi, McDonald’s, Comcast and Merck are the names in circulation before the market starts. Amazon Mazon, Gilead Sciences, Twitter, US Steel and Western Digital will publish quarterly results after market close.
According to 86% of S&P components on Wednesday morning, it ranks first in terms of earnings, according to refinancing data. In terms of revenues, 77% of companies increased more than expected. Financial data released on Thursday will keep investors up to date on the progress of the financial recovery. Initial jobless claims numbers will be published, with economists interviewed by Dow Jones expecting a print of 528,000 copies. Data on pending home sales will also be released.
“The market is in a positive position in the primary market,” said Keith Lerner, Truist’s chief market strategist. He said: “But we expect a helicopter-like environment as tensions remain between good economic growth and the prospect of high income and taxes and potentially rising interest rates.