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Stock futures rise as investors digest more earnings reports

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Traders at the NYSE floor, April 4, 2022.

Source: NYSE

Overnight stock trading rose as investors took in more quarterly reports, including those from United Airlines and Tesla.

The Dow Jones Industrial Average futures gained 0.2% or 80 points. 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 earningsUnited gained more than 7 percent after the merger forecast a profit in 2022.

Stocks have risen following a mixed session of regular trading on 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 posted their largest one-day drop since 2004, when the streaming company reported the first loss of subscribers in over a decade. Roku and Disney streaming services also dropped, while other tech stocks fell.

Dave Grecsek is the managing director for investment strategy at Aspiriant. He said that it continues to remain a very bifurcated marketplace. Some of the value-oriented companies that are more defensive have been enjoying high returns. However, some tech firms that are more growth-oriented will struggle.”

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

The weekly jobless claims will also be released Thursday morning.

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