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Equity futures inch slip after Dow regains record high

Stock futures fell in early Thursday trading after the Dow Jones Industrial Average of 30 high-end stocks regained record highs in strong corporate earnings.

Dow futures fell 109 points. Both S & P 500 futures and Nasdaq 100 futures were trading in the negative territory.

The average of 30 shares surged about 150 points to break the daytime record on Wednesday, peaking from mid-August. The S & P 500 rose 0.4% on the sixth consecutive positive day, just 0.2% below its record high. However, the tech-intensive Nasdaq Composite closed Wednesday’s session slightly lower.

Chris Zaccarelli, CIO of the Independent Advisor Alliance, said:

Investors monitor the third quarter earnings season to assess signs of profit growth, cost pressure and supply chain disruption. Of the approximately 70 S & P 500 companies that have reported results so far, 86% have exceeded analysts’ expectations, according to Refinitiv.

“At this point, there are no signs of a significant drop in margins,” said Jim Reed, head of thematic research at Deutsche Bank. A lot of money is sloshing. “

IBM has confirmed that stock prices have fallen by more than 5% in after-hours trading in the market. Earnings mistakes in the third quarter. The top two business segments (Global Services and Cloud & Cognitive Software Business) were below estimates.

Tesla shares fell slightly in after-hours trading on Wednesday, even after an electric car maker posted Record revenue and revenue In the third quarter, which exceeded expectations.

Railroad giant CSX surged more than 3% in after-hours trading after receiving higher-than-expected earnings reports.

On Wednesday, the Food and Drug Administration Approved booster shots of both Johnson & Johnson and Moderna’s Covid vaccine, An important step in distributing additional doses to tens of millions of people. US regulators have also approved “mixed and matching” vaccines.

Equity futures inch slip after Dow regains record high

Source link Equity futures inch slip after Dow regains record high

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