U.S. Futures Up – Ford strong earnings

Stock futures rose in pre-market trading a day after the S&P 500 and Dow Jones Industrial Average fell from record highs.

Dow futures rose 65 points. The futures of the S&P 500 and Nasdaq 100 traded in solidly positive territory.

Shares of Ford jumped more than 9% due to exceptional gains while raising prospects. The carmaker said the increased availability of semiconductors during the quarter allowed it to increase production.

Shares of Twilio fell about 13%, despite declining third-quarter earnings and earnings after the cloud communications platform forecast a loss for the fourth quarter. Ebay also fell about 5% due to weak revenue guidelines for the fourth quarter.

Shares of pharmaceutical giant and Dow component Merck rose nearly 1% before the market after the company reported a drop in profits. Caterpillar exceeded earnings forecasts, but with a slight decline in revenue, sending its shares up nearly 2%.

The rise in futures came despite a disappointing economic report on Thursday. GDP growth for the third quarter was 2.0%, below the expected 2.8%. The indicator slowed by 6.7% growth in the second quarter.

The market will receive more news of big profits, as technology giants Amazon and Apple will report after the markets close. NBC Universal and Comcast posted solid earnings before markets opened, sending shares up 3.4 percent.

Nearly 40 percent of S&P 500 companies have reported profits, and more than 80 percent of them exceed Wall Street expectations, according to CNBC estimates. S&P 500 companies are expected to increase their profits by about 37.6% in the third quarter.

Investors awaited the first estimate of the annual growth of gross domestic product for the third quarter from the Ministry of Trade. Economists polled by Dow Jones expected an increase of just 2.8 percent as products remained stranded in normally busy ports, employers struggled to find workers and because of consumers struggling with inflation.

Wall Street also watched the events in Washington, where Democrats and President Joe Biden seem to be approaching a deal at the expense of social spending. NBC News reported that Biden will reveal details of the deal later today.

On Wednesday, the S&P 500 fell 0.5% for its first day in three as the strong earnings season began to weaken. The Dow was down more than 250 points, falling for the first time in four days.

The main indices are rising in terms of strong profits this month. The S&P 500 rose 5.6 percent in October, on track to release its best month since November 2020. The Dow rose 4.9 percent this month, while the tech Nasdaq Composite rose 5.5 percent.


Leave a Reply

Login to comment

* Rough, sarcastic and ironic language is not allowed. For such Admins Delete without notice.

Varchev Absolute Trader

борсова платформа

  • Търгувай над 3000 финансови инструмента: Crypto, Форекс, Акции, Индекси, Суровини, ETF-и
  • Използвай платформа с директно изпращане ордерите на борсите
  • Best Trading Platform - "Online Personal Wealth Awards" EU награждава Varchev Absolute Trader
  • Cloud base платформа - твоят трейдинг сетъп на всяко устройство
  • Traders Talk - чуй какво движи пазарите в реално време
  • Market Sentiment - търгувай с настроенията на инвестиционите банки
  • Top movers - най-горещите трейдове във всеки един момент
  • Stocks scanner - филтрирай най-подходящите за твоя трейдинг стил пазарни инструменти
  • Heat map - Търгувай в посоката на големите играчи

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance