Traders on the NYSE floor, February 4, 2022.
Source: NYSE
U.S. stock futures were up slightly in overnight trading on Tuesday as investors braced for another round of corporate earnings.
Dow futures are up about 70 points. S&P 500 futures gained 0.25% and Nasdaq 100 futures gained 0.27%.
Chipotle more than 7% increase in after-hours trading high incomewhile Lyft mark lower after Notification it has fewer active riders compared to the previous quarter.
Above TuesdayDow Jones Industrial Average adds more than 370 points, up 7.8% Amgen on the back of its strong earnings report. The S&P 500 also recorded gains, up 0.8 percent. The tech-focused Nasdaq Composite rose 1.3%.
Some strong corporate profits boosted sentiment on Tuesday, after a slow start to the week. Harley-Davidson, Chegg, DuPont and Centene All rose after reporting better-than-expected earnings.
As of Tuesday’s close, nearly 60% of all S&P 500 companies reported fourth-quarter earnings, and about 77% topped Wall Street earnings estimates, according to FactSet, according to FactSet. .
“We are wrapping up a very solid earnings season,” said Ryan Detrick of LPL Financial. “Certainly, we had a high reputation explosion at Facebook, but overall, we’ve seen impressive news from the American company.”
Wednesday’s high-interest earnings reports include CVS Health, Fox Corp., GlaxoSmithKline and Brand Yum before the bell. Disney, Mattel, MGM . Resort and Uber Technologies The results will be announced after the bell on Wednesday.
Investors are also gearing up for Thursday’s Consumer Price Index report, which will provide an update on the inflation picture. The Federal Reserve issued a round of monetary policy to address historic highs.
Detrick said the CPI report “has been on a massive uptrend all week and the truth is the headline number is likely to be one of the highest we’ve ever seen”. “Now, the good news is that we are likely close to a major inflation peak, and this number is very likely the top. We’ve seen some supply chain improvements recently and this is the first clue. we’re about to hit the peak of inflation because of Good.”
Estimated inflation data showed prices rose 0.4% in January, representing a 7.2% increase from a year ago, according to Dow Jones.
