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U.S. stock index futures point to further gains as the earnings season continues


The U.S. stock-index futures pointed higher on Tuesday, boosting gains for both the S&P 500 and the Nasdaq Composite, the biggest four-day gain since late July.

What are the main indicators doing?
  • The future of the Dow Jones Industrial Average YM00
    It rose 133 points, or 0.4%, to 35,266.

  • S&P 500 Future ES00
    Traded up 4,494.75, up 17.25 points or 0.4%.

  • Nasdaq-100 Future NQ00
    Was up 48 points or 0.3% at 15,338.50.

Monday, Dow Jones Industrial Average DJIA
0.1% down, while the S&P 500 SPX
0.3% and Nasdaq Composite Comp
Improved 0.8%. The S&P 500 and Nasdaq Composite have all seen their best four-day winner stretch since July 23rd.

What is driving the market?

The positive background for equities comes because good corporate earnings largely outweigh concerns about disruption of supply chain.

According to Bank of America, in the first week, 66% of companies lost their Wall Street forecasts in both earnings per share and earnings per share, above the historical historical average of the%.

“It looks like last week’s better-than-expected earnings from the big US banks encouraged some market participants to start this week by increasing their risk exposure, as they became somewhat optimistic for the rest of the season,” said Charlambos Pisuros. , Head of research at JFD Group, in a note.

Tuesday has already seen the results of the Dow component Procter & Gamble Co.
PG
And Johnson & Johnson
JNJ,
When the monster streams Netflix Inc.
NFLX
Reported after the closing bell.

Investors launch first Bitcoin exchange-traded fund and 5- BX: TMUBMUSD05Y
And 30 years BX: TMUBMUSD30Y
Treasury securities have been the narrowest since early 2020.

U.S. home builders began building homes at a consolidated annual rate of 1.56 million annually in September, representing a 1.6% decline over the previous month, the U.S. Census Bureau said Tuesday. Permission to build new homes occurred at a rate of 1.59 million per annum, down 7.7% from August. Economists had expected housing to start at 1.61 million and building permits at 1.67 million.

Several officials from the Federal Reserve are scheduled to speak Tuesday.

Bitcoin BTCUSD rose 0.4% to 62 62,179, trading near an all-time high. The first U.S. Bitcoin Futures Exchange-traded fund from ProShares is set to start trading on the New York Stock Exchange on Tuesday under Ticker Bito.

Views: Bitcoin could rise 170% by the end of the year to $ 168,000 for 2 reasons as crypto-linked ETFs roll out

Which company is in focus?
  • Johnson & Johnson’s shares rose higher in premarket trading when the drugmaker said it brought in বিক 502 million in global sales of its COVID-19 vaccine in the third quarter of 2021.

  • Shares of Procter & Gamble fell 2% after the consumer-packaged goods company reported financial first-quarter profit compared to last year, but maintained its full-year guidance and topped its earnings and sales forecast.

  • Insurer Travelers Cos Inc.
    TRV,
    Also a dow component, beat the assumption that the results are distributed. Shares rose 2%

  • Shares of Tesla Inc.
    TSLA
    One day before reporting the results of the third quarter, the seventh quarter is on the higher end in search of profit. The stock has risen 10.8% in the last six sessions, closing at the highest price since Monday, February 2, and down just 1.5% from the January 26 record at 3 883.09.

  • Philip Morris International Inc.
    PM
    Shares of Cigarette and Tobacco Company fell 2% after overall shipments rose after third-quarter profit and revenue exceeded expectations.

  • Shares of Kansas City Southern
    KSU
    The rail operator reported a 1% decline in profit after the third quarter, which was lower than expected.

What are other markets doing?
  • Yield at 10 year Treasury Note BX: TMUBMUSD10Y
    0.6 basis points increased to 1.588%. Yield and debt prices go in the opposite direction.

  • ICE US Dollar Index DXY,
    The currency measure fell 0.4% against a kite of six major rivals.

  • Oil futures rose with the US benchmark CL00
    1% increase to $ 82.51 barrel. Gold Futures GC00
    It also rose 1% to 7 1,782.70 an ounce.

  • Stoxx Europe 600 XX: SXXP
    0.2% higher, while London’s FTSE 100 UK: UKX
    Increased 0.1%.

  • Shanghai Composite CN: SHCOMP
    0.7%, while the Hang Seng Index HK: HSI
    In Hong Kong it increased by 1.5%. Japan’s Nikkei 225 JP: NIK
    Improved 0.7%.



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