Upbeat Earnings News May Lead To Extended Rebound On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Wednesday, 24 April 2024 12:35:05 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( US Market Bitcoin [Bitcoin]( DAX [DAX]( Dow Jones [Dow Jones]( Nasdaq [Nasdaq]( The major U.S. index futures are currently pointing to a higher open on Wednesday, with stocks likely to extend the notable upward move seen over the two previous sessions. A positive reaction to the latest corporate earnings news may contribute to an extended rebound on Wall Street following the considerable weakness seen last week. Shares of Tesla (TSLA) are skyrocketing by 11.4 percent in pre-market trading even though the electric vehicle maker reported weaker than expected first quarter results. The surge by Tesla comes after CEO Elon Musk said the company plans to start production of a new affordable model by early 2025. Semiconductor company Texas Instruments (TXN) is also seeing significant pre-market strength after reporting first quarter results that beat expectations on both the top and bottom lines. Shares of Visa (V), Boeing (BA) and Mattel (MAT) are also likely to move to the upside after the companies reported better than expected quarterly results. U.S. stocks ended on a firm note on Tuesday, extending gains from the previous session, with technology shares once again outperforming amid optimism about earnings. A batch of encouraging earnings updates and slightly easing concerns about the outlook for interest rates helped underpin sentiment. The major averages all ended notably higher. The Dow settled with a gain of 263.71 points or 0.7 percent at 38,503.69. The S&P 500 jumped 59.95 points or 1.2 percent to 5,070.55, while the Nasdaq surged 245.33 points or 1.6 percent to settle at 15,696.64. Several technology heavyweights such as Microsoft, Alphabet, Meta Platforms and Intel are scheduled to announce their quarterly earnings this week. Other big names, including Boeing, American Airlines, Chevron and Exxon Mobil, are also slated to report their quarterly earnings during the course of this week. Verizon rallied about 3.5 percent. American Express climbed 2.5 percent, while Cate... [Read More]( --------------------------------------------------------------- Do you day trade? Trader Alerts streams stocks reaching new highs and lows as well as stocks breaking out of previous volume highs as they happen. It's a powerful tool for day trading ideas. [Learn More / Upgrade]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( EURUSD [EURUSD]( With orders for transportation equipment showing a substantial increase, the Commerce Department released a report on Wednesday showing new orders for U.S. manufactured durable goods surged by more than expected in the month of March. The report said durable goods orders soared by 2.6 percent in March after climbing by a downwardly revised 0.7 percent in February. Economists had expected durable goods orders to spike by 2.3 percent compared to the 1.3 percent jump that had been reported for the previous month. Excluding the surge in orders for transportation equipment, durable... [Read More]( --------------------------------------------------------------- Europe European stocks are higher on Wednesday, though the upside remains capped after an ECB policymaker said that a possible June rate cut might not be followed by more. Joachim Nagel, president of Germany's Bundesbank, said in a speech at the DZ Bank Capital Markets Conference 2024 that a June interest rate cut from the European Central Bank might not necessarily be followed by a series of rate cuts. Meanwhile, investor sentiment was underpinned after survey data from the ifo Institute showed business sentiment in the country improved in April. The business confidence index climbed to 89.4 in April while economists had forecast the score to rise moderately to 88.9 from March's initially estimated value of 87.8. While the U.K.?s FTSE 100 Index is up by 0.6 percent, the French CAC 40 Index is up by 0.5 percent and the German DAX Index is up by 0.2 percent. Water processing equipment supplier ASM International has spiked cent. The company raised its second quarter revenue forecast after beating analyst estimates for revenue and earnings in the first quarter. Casino Guichard-Perrachon has also surged. The company said it is... [Read More]( --------------------------------------------------------------- [Sell every Stock except ONE]( Markets are down... But Jeff Clark couldn't care less because he ignores almost every stock in the market except ONE. He lives financially free trading this One Stock Once per month... [Ticker Revealed.]( --------------------------------------------------------------- Asia USDCAD [USDCAD]( USDEUR [USDEUR]( USDGBP [USDGBP]( USDJPY [USDJPY]( Asian stocks advanced on Wednesday as focus remained on earnings reports from the U.S. megacaps due this week. Facebook owner Meta Platforms will declare its first-quarter earnings later today, while Microsoft and Alphabet will report their financial results on Thursday. Electric vehicle giant Tesla announced plans to introduce new vehicle models earlier than previously anticipated, boosting optimism about growth. The dollar and U.S. Treasury yields dipped after U.S. manufacturing and services PMI numbers came in weak. Gold struggled for direction in Asian trading but stayed above $2,300 per ounce. Oil prices were largely unchanged after seeing sharp gains in the previous session on bullish inventory data. Chinese shares rose notably, with the Shanghai Composite Index climbing 0.8 percent to 3,044.82 after Ping An Insurance reported better-than-expected growth in its new-business values. Hong Kong's Hang Seng Index jumped 2.2 percent to 17,201.27. Shares in Chinese artificial intelligence (AI) software developer SenseTime Group soared 31.2 percent after the company announced its latest generative AI model. Japanese markets ended sharply higher as strong earnings from Texas Instruments lifted chip-related stocks. The Nikkei 225 Index surged 2.4 percent to 38,460.08, exten... [Read More]( --------------------------------------------------------------- Commodities Crude oil futures are slipping $36 to $83 a barrel after surging $1.46 to $83.36 a barrel on Tuesday. Meanwhile, an ounce of gold is trading at $2,329.80, down $12.30 compared to the previous session?s close of $2,342.10. On Tuesday, gold edged do... [Read More]( --------------------------------------------------------------- To unsubscribe from this news bulletin or edit your mailing list settings click [here](. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +1 888-992-3836. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49