Wall Street set to bounce back as Tesla soars
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Tesla jumps after strong sales forecast
UPS advances following quarterly profit beat
Boeing down after workers reject latest contract
Weekly jobless claims lower than forecasts
Futures: Dow down 0.1%, S&P 500 up 0.52%, Nasdaq up 1%
Updated at 8:35 a.m. ET/1235 GMT
By Lisa Pauline Mattackal and Purvi Agarwal
Oct 24 (Reuters) - The S&P 500 and the Nasdaq were poised for a higher open on Thursday following a selloff in the previous session, buoyed by Tesla's optimistic earnings forecast, which kicked off megacap results on a positive note.
Shares of the company soarednearly 14.3% in premarket trading, with the EV-maker set to add more than $95 billion to its market capitalization, after itreported robust third-quarter profits and surprised investors with a prediction of 20% to30% sales growthnext year.
"Tesla bounced back from the underwhelming launch of its Robotaxi with a strong set of third-quarter earnings. These numbers represent a return to form after an underpowered second quarter, when profitability dropped sharply," said Russ Mould, investment director at AJ Bell.
Tesla was the first of the so-called Magnificent Seven group of stocks toreport, with results from several other megacaps duenext week.
The optimism spread to theother six, with Nvidia NVDA.O rising 1.5%, Amazon.com AMZN.O up 0.7% and Meta Platforms META.O gaining 0.8% after steep declines in the previous session.
Dow E-minis 1YMcv1 were down 43 points, or 0.1%, U.S. S&P 500 E-minis EScv1 were up 30.25 points, or 0.52%, and Nasdaq 100 E-minis NQcv1 were up 201.75 points, or 1%.
Wall Street saw a selloff on Wednesday, with the benchmark S&P 500 notching its third straight decline and the Nasdaq seeing its worst day since early September.
Stocks have eased from record levels over the past few sessions due to a reassessment of bets on the Federal Reserve's rate cuts, rising Treasury yields, corporate earnings and uncertainty surrounding theupcoming U.S. election.
The yield on benchmark 10-year Treasury bonds easedslightly on the day, but was still trading around its highest since late July. It touched 4.26% on Wednesday.
"We're coming into the day after having sold off a bit every day this week. With yields taking a breather and Tesla's positive results and guidance, markets may well be able to find some tailwinds after having been down this week," said Art Hogan, chief market strategist at B Riley Wealth.
Shares of Boeing BA.N dropped 2.2% after factory workers voted on Wednesday to reject a contract offer and continue a more than five-week strike that has seen the company's losses soar.
Meanwhile, investor focus returned to earnings season, with UPS UPS.N adding 8.5% after the parcel service provider reported a rise in third-quarterprofit on rebounding volumes and cost cuts. Rival FedEx FDX.N was up 2.6%.
Southwest Airlines LUV.N dipped 0.8% after reporting a surprise profit in the third quarter, while Honeywell International HON.O was off 2.4% after quarterly results.
IBM IBM.N lost 3.5% after missing estimates for third-quarter revenue, while gold producer Newmont NEM.N dropped 4.5%, as higher costs and weaker Nevada output saw it miss profit estimates.
Around 32% of S&P 500 companies have reported results so far this quarter, according to data compiled by LSEG, with 79% beating earnings estimates.
On the economic front, weekly jobless claims fell to 227,000 for the week ending Oct. 19, versus the 242,000 forecast by economists polled by Reuters.
S&P Global flash PMIs and new home sales for Septemberare dueon the day.
Reporting by Lisa Mattackal and Purvi Agarwal in Bengaluru; Editing by Saumyadeb Chakrabarty and Pooja Desai
Ativos relacionados
Últimas notícias
Isenção de Responsabilidade: As entidades do XM Group proporcionam serviço de apenas-execução e acesso à nossa plataforma online de negociação, permitindo a visualização e/ou uso do conteúdo disponível no website ou através deste, o que não se destina a alterar ou a expandir o supracitado. Tal acesso e uso estão sempre sujeitos a: (i) Termos e Condições; (ii) Avisos de Risco; e (iii) Termos de Responsabilidade. Este, é desta forma, fornecido como informação generalizada. Particularmente, por favor esteja ciente que os conteúdos da nossa plataforma online de negociação não constituem solicitação ou oferta para iniciar qualquer transação nos mercados financeiros. Negociar em qualquer mercado financeiro envolve um nível de risco significativo de perda do capital.
Todo o material publicado na nossa plataforma de negociação online tem apenas objetivos educacionais/informativos e não contém — e não deve ser considerado conter — conselhos e recomendações financeiras, de negociação ou fiscalidade de investimentos, registo de preços de negociação, oferta e solicitação de transação em qualquer instrumento financeiro ou promoção financeira não solicitada direcionadas a si.
Qual conteúdo obtido por uma terceira parte, assim como o conteúdo preparado pela XM, tais como, opiniões, pesquisa, análises, preços, outra informação ou links para websites de terceiras partes contidos neste website são prestados "no estado em que se encontram", como um comentário de mercado generalizado e não constitui conselho de investimento. Na medida em que qualquer conteúdo é construído como pesquisa de investimento, deve considerar e aceitar que este não tem como objetivo e nem foi preparado de acordo com os requisitos legais concebidos para promover a independência da pesquisa de investimento, desta forma, deve ser considerado material de marketing sob as leis e regulações relevantes. Por favor, certifique-se que leu e compreendeu a nossa Notificação sobre Pesquisa de Investimento não-independente e o Aviso de Risco, relativos à informação supracitada, os quais podem ser acedidos aqui.
