Major stock futures rose as investors welcomed reports of higher corporate earnings.
- Dow Jones Industrial Average added 0.8%.
- S&P 500 futures added 0.81%.
- Nasdaq-100 Futures added 1.2%.
hilton, PepsiCoand kelloggs they have scheduled their earnings announcements. PayPal, Lyftand Expedia will report after the market closes.
Investors are closely watching earnings season to see how companies have fared despite high inflation and for clues as to how they will lead going forward. However, this earnings season has not been exemplary.
So far, 63.43% of S&P 500 companies have reported fourth-quarter earnings. Of those companies, 69.62% beat analyst expectations, FactSet results show. According to The Earnings Scout, that acceptance rate is below the three-year average of 79.31%.
financial world comes from a losing session, along with the Dow 207 points lost. He S&P 500 fell 1,131%, and the Nasdaq Composite fell 1.73%.
The next phase of the rally in 2023 may depend on the Fed’s next policy moves. Earlier this week, the Fed chair said inflation was falling, but rates could still rise.
European stocks rally
European stocks rose in the morning after German inflation came in lower than expected.
- Stoxx 600 reference rose 0.82%.
- Dax from Germany rose 1.32%.
- France CAC 40 Index went up 1%.
In January, inflation in the eurozone’s largest economy rose 9.21% year-on-year, below economists’ expectations.
The yield on the 10-year note fell 0.051% to 2.32%, while the two-year contract fell 0.05% to 2.69%.
Market pundits said investors were somewhat relieved by the pace of the European Central Bank’s rate hike.
heavy technology nasdaq lost 1.72% on Wednesday after Google parent Alphabet disappointed investors with a delay in its new AI software, sending its shares tumbling 7.43%.
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