Home / Business / Stock futures inched higher after the S&P 500 retreated from the record.

Stock futures inched higher after the S&P 500 retreated from the record.

Futures linked to major US stock indices soared overnight Wednesday evening after the S&P 500 retreated from a record high during the regular session.

Contracts linked to the Dow rose 53 points, while contracts based on the S&P 500 were up about 0.15 percent. Nasdaq 100 futures were up a similar 0.15 percent.

The overnight session move came after the S&P 500 dropped from a record high during Wednesday’s regular session due to pressure on the tech optimism fueled by big earnings. The first round, which was beyond expectations

The broad equity benchmark fell 0.4 percent after hitting a new record on Wednesday morning. The Dow Jones Industrial Average received just 53 points.

The Nasdaq Composite lost about 1

% during regular trading, as Tesla dropped nearly 4%, Netflix and Facebook dropped more than 2% each, and Amazon, Microsoft and Apple each dropped at least 1%.

As of Thursday’s first-quarter profit season, investors will receive financial results from snack food company PepsiCo, asset manager BlackRock and both Citigroup and Bank of America.

The season kicked off in earnest with bank earnings on Wednesday when Goldman Sachs rose more than 2 percent after analysts had previously forecasted a solid first-quarter net profit and strong operating income. From trading in shares and investment banking units of the company

JPMorgan Chase also ranks forecasts at the top and bottom, earning $ 5.2 billion in leveraged money, previously set aside for loan losses. Bank stocks have climbed across the board this year, with the S&P 500 finance group up nearly 20 percent versus the 9.8 percent S&P 500.

Investors will review the latest Labor Department report on the number of Americans first filed for unemployment insurance. Economists polled by Dow Jones expect the government to report that another 710,000 made their claims for the first time in the week ended April 10.

March’s retail sales data, due on Thursday morning, are expected to show a strong increase in consumer spending, with some economists seeing a 10 percent or more rise due to checks. The $ 1,400 stimulus exam arrived, the consensus forecast was a slight growth of 6.1%.

On Tuesday, the Food and Drug Administration called for a halt to J & J’s COVID-19 vaccine after six people in the United States developed a rare disorder involving blood clots. The announcement sparked a sell-off in the replay earlier this week. But this is not expected to have a significant impact on the U.S. launch of the vaccine.

Like this article?
For CNBC’s selection of exclusive stocks, investment ideas and live streams around the world.
Sign up CNBC Pro
Start your free trial now.

Source link