• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

Stock futures edge up after S&P 500’s best day since March

October 15, 2021
in Finance
Reading Time: 3 mins read
A A
0
Stock futures edge up after S&P 500’s best day since March
0
SHARES
16
VIEWS
ShareShareShareShareShare

Stock futures opened slightly higher to extend gains after a rally on Wall Street, with stronger-than-expected earnings and economic data helping lift the S&P 500 by the most in seven months. 

Shares of big bank stocks including Bank of America (BAC), Citi (C) and Morgan Stanley (MS) steadied during the after-hours session. Each of these stocks had jumped earlier, after these banks posted much stronger-than-expected third-quarter earnings results. Peer banking titan Goldman Sachs (GS) is also set to report earnings results before the opening bell Friday morning. 

This week’s early batch of stronger-than-anticipated quarterly results has helped assuage investors’ concerns over a sharp deceleration in corporate profits, especially as expenses mount for companies across industries in the face of higher input and labor costs. Investors have at least temporarily looked through ongoing reports of shipping challenges and heightened prices, with new inflation data this week showing price increases at both the consumer and producer levels held at historically high levels at the start of the fall. Still, other upbeat economic data counterbalanced these reports, with Thursday’s weekly jobless claims report showing new unemployment filings fell more-than-expected to a pandemic-era low last week. 

“We’ve had a lot of volatility recently, and I think markets are looking for any little glimpse or glimmer of good news,” Jack Manley, JPMorgan Asset Management global market strategist, told Yahoo Finance Live. “The earnings season … has been good so far, and if history suggests anything, it’s only going to get better from here.” 

Other strategists agreed that stocks may be set up to continue marching higher as earnings season continues, given the lowered expectations many investors maintained heading into the reporting season. 

“We’ve had a number of Wall Street strategists come out and call for a correction. If you look at things like the surprise indices, they’re all trending lower … earnings estimates for the third and fourth quarter have leveled off,” Jack Janasiewicz, portfolio manager for Natixis Investment Managers, told Yahoo Finance Live. “To me it feels like the market’s leaning bearish. And when we start to think about the buyer power that could come back in when everybody starts to flip positive — earnings might be that catalyst, [and] we could certainly see that upside.”

—

6:11 p.m. ET Thursday: Stock futures hold onto earlier gains

Here’s where markets were trading Thursday evening:

  • S&P 500 futures (ES=F): +4.75 points (+0.11%), to 4,433.75

  • Dow futures (YM=F): +36 points (+0.1%), to 34,820.00

  • Nasdaq futures (NQ=F): +22.5 points (+0.15%) to 15,059.75

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 12, 2021. REUTERS/Brendan McDermid

—

Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter


Credit: Source link

ShareTweetSendPinShare
Previous Post

Big banks warn that Fed-induced market volatility is coming soon

Next Post

Virgin Galactic Falls After Delaying First Commercial Flight

Related Posts

Coinbase, Roblox, Sweetgreen, The Trade Desk, Wynn Resorts
Finance

Coinbase, Roblox, Sweetgreen, The Trade Desk, Wynn Resorts

August 10, 2022
4
MarineMax Expands Financial Flexibility with New Credit Facilities to Execute on Strategic Growth Opportunities
Finance

MarineMax Expands Financial Flexibility with New Credit Facilities to Execute on Strategic Growth Opportunities

August 9, 2022
5
Most Canadians cutting back on groceries, entertainment as inflation soars: Yahoo/Maru poll
Finance

Most Canadians cutting back on groceries, entertainment as inflation soars: Yahoo/Maru poll

August 9, 2022
4
LogicMark, Inc. To Report Second Quarter 2022 Financial Results on August 11, 2022, and Provide Corporate Update
Finance

LogicMark, Inc. To Report Second Quarter 2022 Financial Results on August 11, 2022, and Provide Corporate Update

August 9, 2022
5
How top-selling electric vehicles will be affected by new tax credit
Finance

How top-selling electric vehicles will be affected by new tax credit

August 9, 2022
7
Next Post
Virgin Galactic Falls After Delaying First Commercial Flight

Virgin Galactic Falls After Delaying First Commercial Flight

Recommended

BTC/USD Tests Technical Support Around 23522:…

BTC/USD Tests Technical Support Around 23522:…

August 1, 2022
6
Can the billionaire be forced to buy Twitter?

Can the billionaire be forced to buy Twitter?

July 13, 2022
4
SIMBA Chain Makes Building on the Blockchain Easier Than Ever for All with SIMBA Blocks

SIMBA Chain Makes Building on the Blockchain Easier Than Ever for All with SIMBA Blocks

July 14, 2022
6
Ankr Unveils Its Biggest Upgrade, Ankr Network 2.0, to Truly Decentralize Web3’s Foundational Layer

Ankr Unveils Its Biggest Upgrade, Ankr Network 2.0, to Truly Decentralize Web3’s Foundational Layer

July 15, 2022
5
Industries and Firms Await Tariff News 

Industries and Firms Await Tariff News 

July 21, 2022
6
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • Coinbase, Roblox, Sweetgreen, The Trade Desk, Wynn Resorts
  • Vitalik Outs Himself as Having Used Tornado Cash
  • Circle says freezing wallets went against its beliefs on an open internet

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?