Sunday, December 10, 2023
The Optic News
Advertisement
  • Home
  • Local
  • World
  • National
  • Politics
  • Finance
  • Sports
  • Science
  • Classifieds
  • Social
No Result
View All Result
  • Home
  • Local
  • World
  • National
  • Politics
  • Finance
  • Sports
  • Science
  • Classifieds
  • Social
No Result
View All Result
The Optic News
No Result
View All Result
Home News Finance

S&P 500 futures slide ahead of a huge week of earnings reports

April 17, 2022
in Finance
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter


Stock futures fell Sunday evening as investors braced for a week of major first-quarter earnings reports ahead.

Futures on the Dow Jones Industrial Average lost about 150 points, or 0.4%. S&P 500 futures shed 0.5%. Nasdaq futures were lower by 0.8%.

Bank of America reports quarterly results Monday before the bell. Several Dow blue-chip names report earnings this week, including IBM, Procter and Gamble, Travelers, Dow Inc, Johnson and Johnson, American Express and Verizon.

Technology bellwethers are also set to report quarterly earnings, with Netflix due on Tuesday and Tesla out on Wednesday. Snap reports Thursday. United Airlines, American Airlines and Alaska Air are also on the calendar, as are railroads CSX and Union Pacific.

Investors will be paying close attention to forward guidance, especially for comments on how companies are handling surging costs. March’s consumer price index reading released last week showed an 8.5% increase from a year ago, the fastest annual gain since December 1981

“The odds seem to be long against underlying inflation moderating to an acceptable pace without a significant deceleration of demand growth,” 22V Research’s Gerard MacDonell said in a note Sunday.

Earnings season is off to a decent start with 77% of S&P 500 companies reporting earnings per share above expectations according to FactSet. Seven percent of the benchmark has reported results so far. Analysts believe first-quarter earnings will jump 5% for the quarter when all S&P 500 companies finish reporting, according to FactSet’s analysis of actual results and future estimates.

“Our belief remains that 2022E EPS likely comes down a bit through earnings season, but likely less than we would have thought a month ago. And the more U.S.-centric and more services-centric the company, the better the EPS outlook is likely to be,” Raymond James’ Tavis McCourt said in a Sunday note.

Despite some better-than-expected results, investors sold stocks last week as they feared higher rates and inflation could darken the outlook for earnings. The S&P 500 fell 2.13% for its second negative week in a row. The Nasdaq Composite lost 2.63%, and the Dow fell 0.8% on the period. U.S. stocks did not trade Friday due to the holiday weekend.

The 10-year Treasury yield last week touched the highest levels in three years above 2.83%, which is weighing on stocks.

Elsewhere, investors will be watching how Twitter trades when the market opens. Twitter announced Friday the board adopted a limited duration shareholder rights plan, often referred to as a “poison pill.” The move comes after billionaire Elon Musk offered to buy the company for $43 billion.

—With reporting by CNBC’s Patti Domm.



Source link

Tags: aheadearningsfuturesHugereportsslideWeek
Share30Tweet19
Previous Post

Tesla stockholders ask judge to silence Musk in fraud case

Next Post

David Beckham Kisses Wife Victoria In Sweet Pic For Her 48th Birthday – Hollywood Life

Recommended For You

Is electrolyte powder good for you? What nutritionists want you to know

by The Optic News
December 10, 2023
0

In modern times, staying hydrated can feel like a big ask. Maybe you don’t have time to fill up your reusable water bottle as you dash from meeting...

Read more

Severe storms tear through central Tennessee, leaving dead and injured

by The Optic News
December 10, 2023
0

Severe storms that tore through central Tennessee killed six people Saturday and sent about two dozen to the hospital as homes and businesses were damaged in multiple cities.Three...

Read more

University of Pennsylvania president resigns after antisemitism testimony By Reuters

by The Optic News
December 10, 2023
0

© Reuters. University of Pennsylvania President Liz Magill testifies before a House Education and The Workforce Committee hearing titled "Holding Campus Leaders Accountable and Confronting Antisemitism" on Capitol...

Read more

British American Tobacco p.l.c. (BTI) Full Year 2023 Trading Update Conference Call (Transcript)

by The Optic News
December 9, 2023
0

British American Tobacco p.l.c. (NYSE:BTI) 2023 Full Year Pre-Close Trading Update December 6, 2023 3:30 AM ET Company Participants Tadeu Marroco - CEO Javed Iqbal - Interim CFO...

Read more

Screenwriters’ Body To Take Up Issues Of Unfair Contracts, Low Pay With Producers, OTT Platforms

by The Optic News
December 9, 2023
0

The Screenwriters Association on Saturday said it will be holding talks with leading Indian studios, producers and OTT platforms next month to discuss the grievances of writers in...

Read more
Next Post

David Beckham Kisses Wife Victoria In Sweet Pic For Her 48th Birthday – Hollywood Life

'It's consistently been the dysfunction of the company': Twitter cofounder Jack Dorsey appears to call out his social media platform's board

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hydrate

The Optic News

Copyright © 2022 - The Optic News.
The Optic News is not responsible for the content of external sites.

Navigate Site

  • Home
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
  • Client Portal
  • Client Portal
  • Client Portal
  • Client Portal

Follow Us

No Result
View All Result
  • Home
  • Local
  • World
  • National
  • Politics
  • Finance
  • Sports
  • Science
  • Classifieds
  • Social

Copyright © 2022 - The Optic News.
The Optic News is not responsible for the content of external sites.