Futures on major US stock indices rose early in the session on Wednesday night after the S&P 500 retreated from record levels during the regular session.
Dow-related contracts added 50 points, while those related to the S&P 500 rose about 0.2%. Nasdaq 100 futures advanced 0.2% similarly.
Movements in the overnight session came after the S&P 500 fell from record levels during Wednesday’s regular session as pressure on technology offset the optimism caused by the first round of major corporate earnings that far exceeded expectations.
The overall benchmark index fell 0.4% after hitting a new record early Wednesday. The Dow Jones industrial average gained just 53 points.
Nasdaq Composite lost about 1% during regular transactions, as Tesla fell nearly 4%, Netflix and Facebook fell more than 2% each, and Amazon, Microsoft and Apple fell at least 1%.
With the start of the first quarter earnings season, investors will analyze financial results from snack company PepsiCo, asset manager BlackRock and both Citigroup and Bank of America on Thursday.
The season started seriously, with banking results on Wednesday, when Goldman Sachs rose more than 2% after blowing analysts’ expectations of past net profits in the first quarter and earnings based on the solid performance of equity and investment trading units. banking of the company.
JPMorgan Chase also exceeded forecasts on the top and bottom lines, helped by a $ 5.2 billion profit from the release of money it had previously set aside for loan losses. Banking stocks have risen everywhere this year, with the S&P 500 financial sector up nearly 20% from the S&P 500.
Investors will review the latest Department of Labor report on Thursday on the number of Americans applying for unemployment insurance for the first time. Economists surveyed by the Dow Jones expect the government to report that another 710,000 applied for the first time in the week ending April 10.
March retail sales data, which will also take place on Thursday morning, are expected to show a sharp rise in consumer spending, with some economists seeing a gain of 10% or more due to the arrival of stimulus checks of $ 1,400. The consensus forecast is a more modest increase 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 United States developed a rare disorder involving blood clots. The announcement sparked a sale at the reopening of plays earlier this week, but is not expected to have a material impact on the pace of US vaccine launches.
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