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Equity futures rose slightly after S & P 500 fell below record

Stock futures rose on Wednesday night trading after the S & P 500 and the Dow Jones Industrial Average fell below record highs.

Dow futures have risen by 50 points. Both S & P 500 futures and Nasdaq 100 futures traded 0.1% higher.

Investors were waiting for the first quote Annual growth rate of gross domestic product in the third quarter From the Department of Commerce. Economists surveyed by Dow Jones found an increase of only 2.8% as products remained stuck in normally bustling harbors and employers struggled to find workers and consumers fighting inflation. I was expecting it.

On Wednesday, the S & P 500 fell 0.5% for the first time in three days as the rebound in the strong earnings season began to ease. The Dow Jones Industrial Average fell by more than 250 points for the first time in four days.

Earnings momentum this month is on a rising trend on a major average. The S & P 500 rose 5.6% in October at a pace to record the highest month since November 2020. The Dow rose 4.9% this month and the tech-heavy Nasdaq Composite rose 5.5%.

According to CNBC calculations, nearly 40% of S & P 500 companies report revenue, and more than 80% exceed Wall Street expectations. S & P 500 companies are expected to grow profits by approximately 37.6% in the third quarter.

“Revenues helped and reminded us that previous US reports are better than the long-term average for beats,” said Jim Reed, head of thematic research at Deutsche Bank. “Compared to some of the stagnant dark stories seen from September to early October, it was still healthy and it probably helped the bailout rally.”

Equity futures rose slightly after S & P 500 fell below record

Source link Equity futures rose slightly after S & P 500 fell below record

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