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The Markets
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Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

Wall Street shares set for higher open; car industry in focus

Wall Street shares are set to rise again in a busy day ahead for earnings and as the global car market is once again under scrutiny.

Wall Street shares are set to rise again in a busy day ahead for earnings and as the global car market is once again under scrutiny.

Also in investor sights is the non-farm payroll number on Friday - always closely monitored and particularly important this month in light of the Fed comments on an interest rate rise.

On Tuesday, the benchmark Dow Jones added around 90 points to close at 17,918, while the S&P500 added around six points to 2,109.

The tech heavy Nasdaq added around 18 points to finish at 5,145.

In futures trading in New York, the Dow Jones is up 23 points, the Nasdaq is around nine ahead and the S&P500 is up just one point.

Tesla (NYSE:TSLA), the luxury electric car maker with Elon Musk at its helm, saw shares accelerate away in after hours trading (up over 8%) as the group unveiled revenues, which were below expectations but cheered putting to rest fears of production problems with the Model x.

The firm said there was growing demand for such electric vehicles.

Conversely, VW shares were in the doghouse again as further emerged on the emissions scandal, which is blighting the reputation of a whole industry.

The latest is that 800,000 Volkswagen cars may have false CO2 levels in Europe. The firm said most of the cars affected have diesel engines but some are petrol.

Shares in VW plummeted over 9% in Germany.

Elsewhere, Takata (OTCMKTS: TKTDY), the car parts giant, shares closed down over 4% in New York after Honda said it would not use the longtime supplier due to its front seat airbags problems.

Reportedly, regulators have linked eight deaths in Honda cars to the bags, which can explode with too much force.

Traders will also be greeted with a further clutch of results today, with pharma firm Allergan (NYSE:AGN), 21st Century Fox (NYSE:FOX), Sodastream (NYSE: SODA) and Wendy's (NYSE:WEN) among the highlights.

Meanwhile, after the close the social network behemoth Facebook (NYSE:FB.) and cyber security firm AVG Tech (NASDAQ: AVG) post earnings.

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