Stock futures gain slightly with more big earnings ahead
Traders at the NYSE floor, February 4, 2022.
Stock futures in the United States rose slightly overnight Tuesday, as investors look forward to another round corporate earnings.
Dow futures gained about 50 points. S&P 500 futures gained 0.2% and Nasdaq 100 futures rose 0.2%.
ChipotleAfter-hours trading rose by more than 7 percent thanks to its strong earningsWhile Lyft ticked lower after announcingThere were fewer active riders in this quarter than it did the preceding quarter.
Continue reading TuesdayThe Dow Jones Industrial Average grew by more than 390 points due to an 8.8% rise in the pop. AmgenThis was due to its solid earnings report. The S&P 500 also registered a gain, climbing 0.8%. Nasdaq Composite, which is technology-oriented, rose 1.3%.
As of the closing bell on Tuesday, nearly 60% of all S&P 500 companies have reported fourth-quarter earnings and roughly 77% have topped Wall Street’s earnings estimates, according to FactSet.
Ryan Detrick, LPL Financial said that “we are wrapping up an extremely solid earnings season.” While we did have a Facebook scandal, overall, there has been impressive corporate news.
On Wednesday, high-interest earnings reports include CVS Health, Fox Corp., GlaxoSmithKlineAnd Yum BrandsBefore the bell. Disney, Mattel, MGM ResortsAnd Uber TechnologiesResults will be released after Wednesday’s bell.
Investors are also getting ready for Thursday’s Consumer Price Index Report, which will give an update about the inflation picture. In order to combat the high prices, the Federal Reserve already announced a pivotal monetary policy.
Detrick stated that the CPI report has “had a bullseye all week” and that the headline figure will probably be the highest ever. We are close to an inflation peak and that number may be the tipping point. Supply chain improvements have shown some signs that inflation is on the rise.
Dow Jones estimates that January’s inflation data showed that prices rose by 0.4%, which is 7.2% more than one year ago.