S&P 500 futures rise after index posts three straight losing days
Futures linked to the S&P 500 rose Thursday as the benchmark looks to rebound following three straight losing sessions. Strong earnings from Tesla and others led the gains.
S&P 500 futures added 0.4%, while Nasdaq 100 futures gained 0.7%. Dow futures slid 24 points, or 0.1%.
Tesla surged 10% after the electric vehicle manufacturer posted third-quarter results that beat analyst expectations.Whirlpool and Lam Research were also higher on the back of better-than-expected earnings by 3.5% and 5.9%, respectively.
Weighing on Dow futures was International Business Machines
which fell more than 2% as consulting revenue narrowly missed analysts’ estimates.
More earnings results are expected on Thursday.
United Parcel Service Honeywell Northrop Grumman Southwest Airlines and American Airlines are among the companies set to report before the market opens.
More than 27% of the S&P 500 has reported third-quarter numbers thus far. Of those companies, 76% have beaten analyst expectations, according to FactSet.
Stocks are coming off a losing session, with the Dow suffering its biggest one-day loss since early December, losing more than 400 points. The S&P 500 shed nearly 1%, and the Nasdaq lost 1.6%. Those moves come as Treasury yields rise.
The 10-year Treasury yield has been marching higher this week, topping the 4.25% threshold on Wednesday at the high of the session. The run-up in yields has kept stocks under pressure as of late.Cay)
Source : CNBC
