Wednesday April 26, 2023: $163.76 -($0.01) -(0.01%)
Apr 26, 2023 1:11:38 GMT -8
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Post by Dave on Apr 26, 2023 1:11:38 GMT -8
Another good morning. Today’s pre-market is red at -0.36% at this moment.
US Futures Rise as Big-Tech Earnings Bolster Mood: Markets Wrap
Wednesday, April 26
Meta Platforms (META), Thermo Fisher Scientific (TMO), Boeing (BA), American Tower Corporation (AMT), ServiceNow (NOW), Automatic Data Processing (ADP), Boston Scientific Corporation (BSX), GlaxoSmithKline (GSK), Canadian Pacific Kansas City Limited (CP), CME Group (CME), General Dynamics (GD), Edwards Lifesciences (EW), Norfolk Southern Corp. (NSC), Hess Corporation (HES), and Aflac (AFL) report earnings
Durable Goods Orders (Mar)
Wholesale Inventories (Mar)
Retail Inventories (Mar)
Goods Trade Balance (Mar)
Meta Platforms (META), Thermo Fisher Scientific (TMO), Boeing (BA), American Tower Corporation (AMT), ServiceNow (NOW), Automatic Data Processing (ADP), Boston Scientific Corporation (BSX), GlaxoSmithKline (GSK), Canadian Pacific Kansas City Limited (CP), CME Group (CME), General Dynamics (GD), Edwards Lifesciences (EW), Norfolk Southern Corp. (NSC), Hess Corporation (HES), and Aflac (AFL) report earnings
Durable Goods Orders (Mar)
Wholesale Inventories (Mar)
Retail Inventories (Mar)
Goods Trade Balance (Mar)
US Futures Rise as Big-Tech Earnings Bolster Mood: Markets Wrap
Bloomberg) -- US equity futures gained as strong earnings from tech majors Alphabet Inc. and Microsoft Corp. after the Wall Street close offered investors some reassurance amid continued concerns over the health of the economy.
“The markets are very much focused on some of the earnings story, but possibly overlooking the weight of economic deceleration that is playing through right now, particularly in the United States,” John Woods, Asia Pacific chief investment officer at Credit Suisse Group AG, said on Bloomberg Television. “I’m looking at a whole range of technical signals, which seem to be suggesting a risk-off environment.”
Boeing Co. and Meta Platforms Inc. are among companies to report earnings later Wednesday.
Treasuries were little changed after the benchmark 10-year yield fell nine basis points Tuesday and the policy-sensitive two-year yield dropped 13 basis points. A gauge of the dollar declined. Bonds in Europe gained, with Sweden’s 10-year yield falling about 7 basis points after a much-anticipated Riksbank rate increase.
First Republic Bank’s warning on deposit outflows had reignited concerns about the health of the regional banking system after weeks of calm. The bank is exploring an asset sale of up to $100 billion of long-dated mortgages and securities as part of a rescue plan, Bloomberg reported Tuesday. The turmoil has raised questions about the effect of the Federal Reserve’s aggressive tightening on the economy broadly and lenders in particular.
“The question is to what extent central banks and regulators can contain market sentiment and make clear to investors they need to keep a cool head, to give depositors confidence that there is no need to run to other banks,” said Tatjana Puhan, deputy chief investment officer at Tobam SAS. “So far the Fed has been very clear that they will continue to hike rates as long as needed to contain inflation.”
In Asia, South Korea after battery maker LG Energy Solution Ltd. posted first-quarter net income that beat analysts’ estimates and Apple Inc.-supplier SK Hynix Inc. forecast a rebound in the memory-chip sector later this year.
Boeing Co. and Meta Platforms Inc. are among companies to report earnings later Wednesday.
Treasuries were little changed after the benchmark 10-year yield fell nine basis points Tuesday and the policy-sensitive two-year yield dropped 13 basis points. A gauge of the dollar declined. Bonds in Europe gained, with Sweden’s 10-year yield falling about 7 basis points after a much-anticipated Riksbank rate increase.
First Republic Bank’s warning on deposit outflows had reignited concerns about the health of the regional banking system after weeks of calm. The bank is exploring an asset sale of up to $100 billion of long-dated mortgages and securities as part of a rescue plan, Bloomberg reported Tuesday. The turmoil has raised questions about the effect of the Federal Reserve’s aggressive tightening on the economy broadly and lenders in particular.
“The question is to what extent central banks and regulators can contain market sentiment and make clear to investors they need to keep a cool head, to give depositors confidence that there is no need to run to other banks,” said Tatjana Puhan, deputy chief investment officer at Tobam SAS. “So far the Fed has been very clear that they will continue to hike rates as long as needed to contain inflation.”
In Asia, South Korea after battery maker LG Energy Solution Ltd. posted first-quarter net income that beat analysts’ estimates and Apple Inc.-supplier SK Hynix Inc. forecast a rebound in the memory-chip sector later this year.