Payne Capital Management President Ryan Payne discusses markets and the economy.
US stock futures rose on Wednesday after a rally on Tuesday led by technology stocks, including IBM, a member of the Dow.
Ticker security Last change Change% I: DJI DOW JONES AVERAGE 35235.93 +324.73 + 0.93% SP500 S&P 500 4483.65 +21.44 + 0.48% I: COMP NASDAQ COMPOSITE INDEX 13721% +1.0.0
Traders work on the floor of the New York Stock Exchange (NYSE) in New York. (REUTERS / Brendan McDermid / Reuters Photos)
Shares of IBM rose after a solid quarter and provided a positive outlook for the growth of the cloud business.
Ticker Security Last Modified% IBM INTERNATIONAL BUSINESS MACHINES CORP. 136.19 +6.87 + 5.31%
Netflix sank into remarketing after the video streaming giant reported its first worldwide loss of subscribers. The company’s customer base fell by 200,000 subscribers in January-March, according to its quarterly earnings report released on Tuesday. Netflix said it expects to lose another 2 million subscribers in April-June.
Last ticker security change% NFLX NETFLIX INC. 237.60 -111.01 -31.84% Last Ticker Security Change% TSLA TESLA INC. 1,020.92 -7.23 -0.70% UAL UNITED AIRLINES HOLDINGS INC. 45.85 to +45 to
In the afternoon, the focus will be on Tesla. The manufacturer of electric vehicles and the renewable energy plant are expected to say that EPS doubled to $ 2.26 in the first quarter, with a 71% increase in revenue to $ 17.80 billion. Other companies that report include United Airlines and chipmaker Lam Research.
Crude oil prices rose on Wednesday morning, recovering from sharp losses in the previous session. US crude rose to $ 103 as Brent futures rose more than $ 107 a barrel.
Sunrise well drilling rig owned by Parsley Energy Inc. near Midland, Texas (REUTERS / Ernest Scheyder / Reuters Photos)
The Energy Information Administration (EIA) will publish its weekly data later Wednesday morning.
RUSSIA INVASES UKRAINE: LIVE UPDATES
NON-LIST OF WORK AND CEMENT WARNING “PERFECT STORM”, INDUSTRY EXPERT
From an economic point of view, the National Association of Real Estate Brokers is expected to say that sales of previously owned homes fell 3.7% to a seasonally adjusted annual rate of 5.8 million units.
Bitcoin is trading around $ 41,000.
On Tuesday, stocks overcame a weak start to end higher overall, giving the main Wall Street indexes their best day in nearly five weeks.
The S&P 500 rose 1.6 percent to 4,462.21 and the Dow Jones Industrial Average rose 1.5 percent to 34,911.20. The technology Nasdaq shook off an early loss and added 2.2%, closing at 13,619.66.
The yield on 10-year government securities is 2.92%.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
The conflict in Ukraine added to this price pressure. The International Monetary Fund on Tuesday lowered the outlook for the world economy this year and next, accusing Russia’s war in Ukraine of disrupting global trade, rising oil prices, threatening food supplies and increasing insecurity already exacerbated by the coronavirus and its options.
GET FOX BUSINESS ON THE MOVE BY CLICKING HERE
Ken Martin of FOX Business and the Associated Press contributed to this report.
Add Comment