It could be a very interesting day for Wall Street on Thursday as big names are set to release their earnings ahead of the bell.
The benchmark bounced back from its losing streak, largely due to The Boeing Company’s strong earnings, closing 59.70 points higher at 24,083.83 on Wednesday. Its futures are looking for a positive open, currently up 34 at 24,112.
The S&P 500, which closed up 4.84 at 2,639.40 on Wednesday looks set for another good day, with its futures pointing up 0.22%.
The Nasdaq, which took a turn south yesterday and closed down 3.61 points at 7,003.74, seems to ready for a positive start, with its futures up 0.55%.
The TSX closed up 32.75 points at 15,509.75, boosted by energy stocks which offset losses from health care stocks.
Oil prices were up at US$68.49 while gold is also edging higher, up 0.26% at US$1,326.00.
In London, the FTSE 100 was up 2.60 points at 7,381.82 while AIM was also up 0.75 at 1,042.35.
The Asian markets delivered a mixed set, with the Shanghai Composite Index down 1.38% at 3,075.03 and the Hong Kong’s Hang Seng Index losing 1.06% at 30,007.68.
Japn’s Nikkei moved in the other direction, rising 0.47% at 22,319.61, boosted by currency gains while South Korea’s Kospi also registered gains, up 1.10% at 2,475.64, led by Samsung Electronics.
Eyes on US Treasury notes
Back across the pond, all eyes will remain on the US 10-year Treasury notes, which comfortably stayed above the 3.0% level on Wednesday, there are more corporate news for traders to crunch on.
A round of earnings from major tech companies after the bell on Wednesday will keep investors busy, as more than 80% of the S&P 500 companies which have released their earnings so far, have seen their numbers beat market forecasts.
French President Emmanuel Macron’s current visit in the US will also draw some attention on concerns that President Donald Trump will slap fresh sanctions on Iran despite Macron’s efforts to work out a new deal.
“US investors were not quite ready to return to risky assets on Thursday morning after this week’s panicked reaction to US benchmark debt beginning to yield 3% for the first time in four years and alarmingly non-committal commentary from pivotal US companies,” City Index’s Ken Odeluga said.
Corporate highlights, economic data
And looking ahead for today, the weekly jobless claims report, the March durable goods orders, core capital equipment orders and advance trade in goods are set for release.
General Motors, Hershey and PepsiCo are among the big names releasing numbers today.
Facebook Inc (NASDAQ:FB), is pointing higher, up 6.89% premarket after reporting market-busing earnings late Wednesday.
Advanced Micro Devices Inc (NASDAQ:AMD) also is heading up, after delivering profits that beat market expectations and unveiling an upbeat revenue outlook.
Qualcomm Inc (NASDAQ:QCOM) was another set for gains after earnings, with Ford Motor Co (NYSE:F) also headed in that direction after results.
eBay Inc however is set to tip south, after offering a rather downbeat outlook in its earnings statement after the bell.