U.S. stock futures showed little change early Wednesday, as investors held off on making big bets as they waited for another round of earnings reports.
Boeing Co., Coca-Cola Co. and General Motors Co. are among the big names slated to reveal their quarterly results before the stock market’s open.
S&P 500 futures inched higher by 2.90 points, or 0.1%, to 2,023.50, while Dow Jones Industrial Average futures edged up by 19 points, or 0.1%, to 17,126. Nasdaq 100 futures added 2.75 points, or less than 0.1%, to 4,427.50.
On Tuesday, the S&P 500 and Dow both closed 0.1% lower, while the Nasdaq fell 0.5%. The three benchmarks all snapped three-day win streaks, leaving them roughly flat for the week after two days of trading.
Source : Market Watch
U.S. stocks rose toward records, with the Nasdaq Composite Index at the highest closing level since 2000, as technology shares jumped and Coca-Cola Co. and McDonald’s Corp. rallied after reporting earnings.
Coca-Cola jumped 1.3 percent as it enticed consumers to pay more for its drinks during the quarter. McDonald’s soared 3.1 percent as Chief Executive Officer Steve Easterbrook promised to give details of his turnaround plan next month. Visa Inc. and MasterCard Inc., the world’s biggest payments networks, surged the most since October on prospects for business in China.
The Standard & Poor’s 500 Index rose 0.5 percent to 2,107.93, less than 10 points from a record, at 4 p.m. in New York. The Nasdaq Composite Index increased 0.4 percent. The Dow Jones Industrial Average added 88.01 points, or 0.5 percent, to 18,037.60.
While analysts predict an earnings slump through September, they have moderated how steep that will be. They now forecast first-quarter earnings for S&P 500 companies will drop 4.3 percent, better than April 10 estimates for a 5.6 percent decline.
Source : Bloomberg