Stock futures rose Wednesday night as investors looked forward to more corporate earnings on Thursday and key labor data due later in the week.
Dow Jones Industrial Average Futures Added 65 points (0.2%). S&P500 futures It rose by 0.2%. Nasdaq 100 futures Increased by 0.3%.
Chip makers in after-hours trading Qualcomm It rose more than 3% on better-than-expected adjusted earnings and a solid revenue outlook.Restaurant delivery service door dash Shares fell more than 15% after the company reported a larger loss per share than Wall Street expected.
The moves come after an eventful day on Wall Street as investors reacted to the Federal Reserve’s decision to keep interest rates on hold. In a closely watched news conference, Federal Reserve Chairman Jerome Powell effectively ruled out raising interest rates as the central bank’s next move, even though there have been few signs of easing inflation recently.
All three major stock indexes were up more than 1% at their highs, but fell sharply by the end of Wednesday’s choppy trading session. The Dow Jones Industrial Average ended about 0.2% higher, while the S&P 500 and Nasdaq Composite both closed about 0.3% lower.
Eric Winograd, director of developed market economic research at AllianceBernstein, said Powell’s emphasis that the central bank’s next move is likely not to raise interest rates “should calm financial markets.” said. Still, it remains unclear when the Fed will actually start lowering borrowing costs, making the issue a top concern for traders.
“‘Longer, higher’ is the Fed’s creed,” Winograd said. “Unless something dramatically changes, we’re past the ‘higher’ part and into the ‘longer’ part.”
Investors will focus Thursday on economic indicators such as weekly jobless claims, first-quarter labor productivity and unit labor costs, as well as March statistics on trade deficits and factory orders. All of these announcements come ahead of Friday’s closely watched April jobs report.
Thursday’s quarterly earnings report is dominated by the following: apple and amgen Line up after closing coinbase and draft kings. before the market opens moderna and peloton We plan to publish the results of both.
