Futures Market Higher On Earnings Optimism, Oil Surges

Stocks looked to recover some of their losses Wednesday as earnings remained in focus, and inflationary pressures continue to build.

Stocks reversed course after rate hikes hit the indices hard on Tuesday. On the other hand, Goldman Sachs earning miss weighed heavily on Dow Jones Industrial Average.

However, good earnings reports from Bank of America and other major companies edged investors towards a more optimistic outlook.

Level Chg. Chg. %
DOW Futures 35,302.00 54 0.15%
S&P 500 Futures 4,579.00 9.75 0.21%
Nasdaq Futures 15,237.50 41.25 0.27%

U.S. Dollar and Treasuries

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Treasury yields continue to edge up as investors bet on rate hikes. The dollar was stable.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 95.64 -0.09 -0.10%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.561% 0.008 0.553%
U.S. 5 Year Treasury Note 1.665% 0.009 1.656%
U.S. 10 Year Treasury Note 1.881% 0.005 1.876%

 

Stocks To Watch

Bank of America reported Q4 profits that beat market expectations.  Profits rose 28% to 82 cents per share, while revenue rose 10%.

Shares of Opendoor Technologies, an online real estate broker, dropped as Bank of America changed its rating to underperform.

Cloud computing firm Cisco Systems dropped after investment bank Goldman Sachs cut its rating to neutral.

Ford was up in premarket trading after saying that its investment in the EV maker Rivian would add $8.2 billion in Q4 profits.

Symbol Company Name Price Chg. % Volume
BAC Bank of America Corp. $47.47 2.62% 822.99K
CSCO Cisco Systems Inc. $58.29 -2.41% 129.23K
OPEN Opendoor Technologies Inc. $10.27 -3.57% 122.28K
F Ford Motor Co. $24.50 0.49% 119.77K

 

Commodities To Watch

Oil rose to the highest level since 2014 as a fire on the pipeline from Iraq to Turkey adds to supply concerns. Gold edged up on inflation fears.

Resource Price Chg. %
WTI Crude Oil $86.08 0.76%
Brent Crude Oil $87.95 0.50%
Natural Gas $4.21 -1.70%
Gold $1,817.30 0.27%
Silver $23.75 1.10%
Copper $4.45 1.46%

 

Crypto

The global crypto market cap is $1.98T, a 0.32% decrease over the last day. Bitcoin’s dominance is currently 40.25%, an increase of 0.41% over the same period.

Currency Symbol Price Chg. % Market Cap.
Bitcoin BTC $42,141.78 +0.46% 797.91b
Etherium ETH $3,135.51 -1.23% 372.65b
Binance coin BNB $463.60 -0.67% 68.92b
Solana SOL $136.27 -0.74% 42.81b
Cardano ADA $ 1.428 -4.59% 44.42b

 

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