"The markets generally price in earnings declines well before they happen-maybe two or three quarters ahead. Dow Jones Futures: Bull Market Hits Resistance Nvidia Leads 10 Stocks Near Buy Points Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. "This may seem counterintuitive, but it makes sense when we remind ourselves that markets are forward looking," LPL Financial Chief Equity Strategist Jeffrey Buchbinder notes. History shows, however, that stocks are more inclined to rise in years when earnings fall than not. Moreover, Wall Street analysts have been downwardly revising estimates. Of roughly 11% of companies in the S&P 500 index that have reported fourth-quarter earnings to date, just 67% have seen earnings per share come in above estimates - below the five-year average of 77% that typically do - according to data from FactSet Research. The days ahead will also be packed with economic data, with a reading on gross domestic product (GDP) for the fourth quarter due out Thursday. Market giants including Microsoft ( MSFT) and Tesla ( TSLA) are scheduled to report results this week, along with dozens of other big names.
Investors are also entering the throes of what appears to be a murky earnings season. Overview Market Screener Market Indexes Industry Indexes International Indexes Sectors DJIA Dow Jones Global Dow Jones Industrial Average Watch list Open Last Updated: 1:04. “We look forward to working constructively with Salesforce to realize the value befitting a company of its stature.”Įlsewhere in stock moves Monday, Spotify Technology ( SPOT) shares rose roughly 2.1% after the company confirmed the music streaming platform will cut 6% of its workforce, adding to a growing bout of cost-trimming layoffs across the technology sector.Ī person walks by the New York Stock Exchange (NYSE) in New York City, U.S., January 5, 2023. while trading a single contract with our E-mini Dow (5) products.
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“Salesforce is one of the preeminent software companies in the world, and having followed the company for nearly two decades, we have developed a deep respect for Marc Benioff and what he has built,” Elliott managing partner Jesse Cohn said in a statement. Gain exposure to 30 of the largest companies in the U.S. The major stock indexes finished Monday right at their 2023 highs, as Tesla stock. Meanwhile, eyes were on Salesforce ( CRM) Monday after the news hedge fund Elliott Investment Management has taken a multibillion-dollar activist stake in the software giant. Dow Jones futures were lower Wednesday morning after the stock market closed Tuesday for the July 4 holiday.
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The company also got an upgrade from JPMorgan. Wayfair's ( W) stock surged nearly 27% after the online furniture retailer said it would lay off 1,750 employees to support restructuring and cost-cutting efforts. equities to kick off the year, with the Nasdaq gaining more than 8% in January so far.Ĭhip stocks helped extend the winning streak across tech to start the week, with shares of Advanced Micro Devices ( AMD) and Nvidia ( NVDA) each rising 9.2% and 7.6%, respectively, on Monday. On the bond markets, United States 10-Year rates were at 3.549%.Tech stocks have so far led an uptrend across U.S. On the earnings front, companies including Charles Schwab Corp (NYSE:SCHW), JB Hunt Transport Services Inc (NASDAQ:JBHT), Discover Financial Services (NYSE:DFS), PNC Financial Services Group Inc (NYSE:PNC) are set to release results on Wednesday.ĭuring Tuesday’s regular trade, the Dow Jones Industrial Average fell 391.8 points or 1.1% to 33,910.9, the S&P 500 fell 8.1 points or 0.2% to 3,991 while the NASDAQ Composite added 16 points or 0.1% to 11,095.1. United Airlines Holdings Inc (NASDAQ:UAL) lifted 2.2% after reporting EPS at $2.46 versus $2.11 expected, while revenues came in at 12.4 billion versus 12.23 billion expected.Īhead in Wednesday’s session, traders will be looking towards producer price index data, retail sales, business inventories and industrial production figures as well as speeches from Bostic, Bullard and Harker. After hours stock quotes coverage from CNN. The S&P 500 advanced 1.15 to finish at 4,378.41, while the Nasdaq Composite surged 1.65 to settle.
In extended deals, Interactive Brokers Group Inc (NASDAQ:IBKR) added 1.9% after the company reported EPS at $1.3 versus $1.17 expected on revenues of 958 million versus 912.8 million expected. View post-market trading including futures information for the S&P 500, Nasdaq Composite and Dow Jones Industrial Average. The Dow Jones Industrial Average climbed about 212.03 points, or 0.63, to end at 33,926.74. By 6:40pm ET (11:40pm GMT) Dow Jones Futures and S&P 500 Futures declined 0.2% apiece while Nasdaq 100 Futures fell 0.3%.
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