Futures contracts tied to major U.S. stock indices rose at the start of the night session on Wednesday evening after the S&P 500 withdrew from record levels during the regular session.
Dow-linked contracts added 50 points, while those linked to the S&P 500 rose by around 0.2%. Nasdaq 100 futures advanced a similar 0.2%.
Day-to-day session movements came after the S&P 500 fell from record levels during Wednesday’s regular session, while pressure on tech optimism sparked the first round of significant corporate gains. which far exceeded expectations.
The broad equity benchmark fell 0.4% after breaking a new record in early Wednesday. The Dow Jones Industrial Average gained just 53 points.
The Nasdaq Composite lost about 1% during regular trading, as Tesla fell about 4%, Netflix and Facebook fell more than 2% each, and Amazon, Microsoft, and Apple fell at least 1% .
With the first quarter earnings season underway, investors will be worried Thursday about the financial results of snack company PepsiCo, asset manager BlackRock and Citigroup and Bank of America.
The season began seriously with banking results on Wednesday, when Goldman Sachs rose more than 2% after exceeding analysts’ expectations of first-quarter net profit and record revenue thanks to strong performance from trading and investment banking units of the company.
JPMorgan Chase also exceeded upper and lower line forecasts, helped by a $ 5.2 billion profit in releasing money it had previously set aside for loan losses. Banking stocks have grown broadly this year, with the S&P 500 financial sector almost 20% compared to 9.8% for the S&P 500.
Investors will review the Department of Labor’s latest report on Thursday on the number of Americans filing claims for the first time for unemployment insurance. Economists surveyed by Dow Jones expect the government to report that another 710,000 filed claims for the first time during the week ended April 10th.
March retail sales data, also forecast for Thursday morning, is expected to show a sharp rise in consumer spending, with some economists recording an increase of 10% or more thanks to the arrival of cash checks. $ 1,400 stimulus. The consensus forecast is a more modest growth of 6.1%.
On Tuesday, the Food and Drug Administration called for a break in the administration of J&J’s Covid-19 vaccine after six people in the U.S. developed an uncommon disorder that affected blood clots. The announcement triggered the sale of reopening works earlier in the week, but is not expected to have a material impact on the pace of vaccine implementation in the United States.
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