Global Courant 2023-04-18 12:13:17
Traders work on the floor of the New York Stock Exchange (NYSE) on September 1, 2022 in New York City.
Spencer Plat | Getty Images
US stock futures were mixed Tuesday morning after key averages rose to kick off a stacked week of corporate gains.
Dow Jones Industrial Average Futures rose 41 points, or 0.12%, while S&P 500 futures were 0.08% higher. Nasdaq 100 futures were flat.
JB Hunt Transport Services shares fell 2% in extended trading after the transport and logistics company missed its first-quarter profit expectations due to weaker demand, lower prices and higher costs.
Stocks closed higher during Monday’s regular trading session. The Dow Jones Industrial Average rose 100.71 points, or 0.3%. The S&P 500 gained 0.33%, while the Nasdaq Composite gained 0.28%.
Investors analyzed the results of State Street and Charles Schwab. Schwab shares rose on a profit swing, while State Street shares fell on disappointing results. Schwab was one of the financial names that came under increased scrutiny after the regional banking crisis threw the sector into chaos last month.
Meanwhile, tech names fell and Google parent Alphabet fell more than 2%. The move came after The New York Times reported on Sunday that Samsung is considering switching its default search engine to Bing.
Traders will be watching the rollout of further results to see how companies hold up amid a period of continued inflation and rising interest rates, even though earnings results have remained resilient so far.
“Since the beginning of last year, there’s been a lot of pessimism about the economic outlook, about the financial outlook,” Ed Yardeni of Yardeni Research said Monday on CNBC’s “Closing Bell.”
“I’ve said I think we’re in a recession. We’ve been in a recession since last year. But it’s a rolling recession, and it keeps rolling in different industries, and overall it’s not right until a recession in the entire economy,” Yardeni added.
The corporate earnings season continues Johnson & Johnson, bank of America And Goldman Sachs notification Tuesday before the bell.
On the economic front, traders are looking at the latest data on home starts and building permits. Consensus estimates from Dow Jones suggest that March housing starts will fall 3.4% to 1.40 million units.
March construction permit data is expected to fall 4.9% to 1.45 million units, according to economists polled by Dow Jones.
(TagsToTranslate)Breaking News: Markets
