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.
|S&P 500 Futures||4,579.00||9.75||0.21%|
U.S. Dollar and Treasuries
Treasury yields continue to edge up as investors bet on rate hikes. The dollar was stable.
|U.S. Dollar Index (DXY):||95.64||-0.09||-0.10%|
|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
|WTI Crude Oil||$86.08||0.76%|
|Brent Crude Oil||$87.95||0.50%|
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.|