Global Stock Markets
Dow Jones Industrial Average futures erased losses on Wednesday after
Boeing reported strong results and forecast, but concerns about rising
U.S. bond yields and corporate costs continued to weigh on U.S. stocks
Boeing (BA.N), the world’s biggest planemaker, rose 2.1 percent after it reported a higher-than-expected quarterly profit and raised its full-year forecast for earnings and cash flow.
The blue-chip Dow .DJI was on track to open 16 points higher, while the S&P 500 .SPX and the Nasdaq .IXIC were on track for slight losses.
The yield on 10-year U.S. Treasury notes US10YT=RR, the benchmark for global interest rates, held above 3 percent after crossing the level for the first time in four years on Tuesday, stoking concerns about higher borrowing rates for companies.
Alphabet’s (GOOGL.O) shares fell after the company said it expected a surge in costs on Monday, while Caterpillar (CAT.N) noted first-quarter earnings would be the “high water mark” for the year and warned of higher material costs.
Investors are watchful about other companies raising such warnings, as inflation is picking up and the Federal Reserve is in no mood to put the brakes on its own rate-hike program.
Reuters data shows that analysts are now estimating 21.1 percent profit growth in the first quarter among the S&P 500 companies, compared with 18.6 percent growth rate at the start of the earnings season.
At 8:41 a.m. ET, Dow e-minis 1YMc1 were up 10 points, or 0.04 percent, with 53,518 contracts changing hands. S&P 500 e-minis ESc1 were down 7.25 points, or 0.28 percent, with 203,956 contracts traded. Nasdaq 100 e-minis NQc1 were down 10.75 points, or 0.16 percent, on volume of 71,813 contracts.
The CBOE Volatility index .VIX, a gauge of short-term stock market volatility jumped to more than 1-week high to 18.56 points.
Comcast (CMCSA.O) fell 1.9 percent after the U.S. cable company submitted a $31 billion offer for pay-TV group Sky (SKYB.L), challenging an already agreed but lower takeover bid from Rupert Murdoch’s Fox (FOXA.O).
Viacom (VIAB.O) rose 1.23 percent after the media company reported better-than-expected quarterly results.
Twitter jumped 4.2 percent after reporting its second profitable quarter and topping Wall Street estimates for revenue and monthly active users.
Facebook (FB.O) which is set to report after market closes on Wednesday, was edged up 0.5 percent.
Boeing (BA.N), the world’s biggest planemaker, rose 2.1 percent after it reported a higher-than-expected quarterly profit and raised its full-year forecast for earnings and cash flow.
The blue-chip Dow .DJI was on track to open 16 points higher, while the S&P 500 .SPX and the Nasdaq .IXIC were on track for slight losses.
The yield on 10-year U.S. Treasury notes US10YT=RR, the benchmark for global interest rates, held above 3 percent after crossing the level for the first time in four years on Tuesday, stoking concerns about higher borrowing rates for companies.
Alphabet’s (GOOGL.O) shares fell after the company said it expected a surge in costs on Monday, while Caterpillar (CAT.N) noted first-quarter earnings would be the “high water mark” for the year and warned of higher material costs.
Investors are watchful about other companies raising such warnings, as inflation is picking up and the Federal Reserve is in no mood to put the brakes on its own rate-hike program.
Reuters data shows that analysts are now estimating 21.1 percent profit growth in the first quarter among the S&P 500 companies, compared with 18.6 percent growth rate at the start of the earnings season.
At 8:41 a.m. ET, Dow e-minis 1YMc1 were up 10 points, or 0.04 percent, with 53,518 contracts changing hands. S&P 500 e-minis ESc1 were down 7.25 points, or 0.28 percent, with 203,956 contracts traded. Nasdaq 100 e-minis NQc1 were down 10.75 points, or 0.16 percent, on volume of 71,813 contracts.
The CBOE Volatility index .VIX, a gauge of short-term stock market volatility jumped to more than 1-week high to 18.56 points.
Comcast (CMCSA.O) fell 1.9 percent after the U.S. cable company submitted a $31 billion offer for pay-TV group Sky (SKYB.L), challenging an already agreed but lower takeover bid from Rupert Murdoch’s Fox (FOXA.O).
Viacom (VIAB.O) rose 1.23 percent after the media company reported better-than-expected quarterly results.
Twitter jumped 4.2 percent after reporting its second profitable quarter and topping Wall Street estimates for revenue and monthly active users.
Facebook (FB.O) which is set to report after market closes on Wednesday, was edged up 0.5 percent.
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