US Futures Rise on High Earnings Reports

US stock index futures climbed higher as companies kicked off earnings season with stellar earning reports

FSMNews

US stock index futures climbed on Tuesday with strong earnings from Netflix, UnitedHealth, Johnson & Johnson fueling optimism over the expected strongest earnings season in seven years.

The Dow e-minis climbed up 151 points, or 0.61 percent, while the S&P 500 e-minis gained 13.75 points, or 0.51 percent. Nasdaq  100 e-minis increased 34.5 points, or 0.51 percent.

Netflix shares swelled 6.44 percent during the premarket trading. Netflix has recently exceeded analysts’ quarterly subscriber estimates. The gains were supported by the skyrocketing numbers of subscribers and the string of original contents.

The Dow Jones Industrial Average is currently 0.6 percent down so far this year. Meanwhile, it still gained a lot this earnings season, with health stocks leading the gains.

UnitedHealth gained 1.78 percent after it raised its earnings forecast while posting earnings report, which beat Wall Street estimates. UnitedHealth is the largest US health insurer.

Johnson & Johnson gained 0.94 percent after it reported a 12.6 percent jump in sales. Goldman Sachs shares increased 0.4 percent after it reported a 27 percent gain in profits.

Tesla shares plummeted 0.84 percent after it suspended its Model 3 assembly line. This move was believed to be a part of a production pause.

The results are expected to fuel further optimism regarding the first quarter growth. This year’s first quarter earnings season is expected to be the highest in 7 years. According to data, analysts agree that S&P companies’ profits have risen 18.6 percent during the first quarter.

Meanwhile, market participants have shifted their focus alternatively from geopolitical issues and trade worries. These concerns have battered the market in recent months.

On the other hand, the trade disputes between the United States and China continue to brew tensions. During an initial anti-dumping ruling, Beijing proposed to impose a heavy temporary deposit on imports of US sorghum. Archer Daniel, which is among the leading sellers of US sorghum into China, slumped down 0.9 percent.

This proposal came after the United States prohibited American companies from selling parts and software to China’s ZTE Corporation for 7 years.

In addition, an attack on Syria led by the United States over the weekend has not yet encouraged any military attack from Russia. This silence or subdued reaction has eased fears that the conflict may escalate further and turn into an all-out war between the US and Russia.

FSMNews

Russia and China Play ‘Currency Devaluation Game’ – Trump

US president Donald Trump accused China and Russia of devaluating their currencies as the United States increased its interest rates.

“Russia and China are playing the Currency Devaluation games as the US keeps raising interest rates. Not acceptable!” Trump tweeted on a post.

Trump was talking about what he thinks are unfair trading benefits. Since Trump’s rise to power, the US dollar has weakened significantly against many other currencies, which include the Chinese yuan.

Follow FSM News for your round-the-clock market update! We provide you with the latest news surrounding Forex, commodities, automobile, consumer, financial, economy, and technology. Never miss any news beat! Subscribe now!

 

I Like this Article

Start Trading with Top Industry Brokers

Company Regulation Spread on Majors Deposit Info



 




POPULAR POST

  • Stocks
  • General
FSMNews

Indonesia Stock Soars, Dax...

Posted on June 3, 2016 And Got 374 Likes

FSMNews

Sluggish Economy Still on ...

Posted on April 6, 2016 And Got 319 Likes

FSMNews

BOJ Slumps along with Asia...

Posted on April 1, 2016 And Got 313 Likes

FSMNews

European Shares Traded Low...

Posted on March 31, 2016 And Got 313 Likes

FSMNews

US Shares Dip after Fed St...

Posted on March 17, 2016 And Got 305 Likes

FSMNews

Coca-Cola Amatil Shares Di...

Posted on October 24, 2016 In Consumer Products And Got 914 Likes

FSMNews

Dollar Remains Roughly Hig...

Posted on April 6, 2016 In Forex And Got 803 Likes

FSMNews

Ways To Use The Golden Cro...

Posted on September 16, 2016 In Trading Strategies And Got 707 Likes

FSMNews

Amazon Seals $400M Salesfo...

Posted on May 27, 2016 In Technology And Got 636 Likes

FSMNews

Dollar Steadies Against Eu...

Posted on May 27, 2016 In Forex And Got 589 Likes