Dow Jones futures edged higher Wednesday morning, while S&P 500 futures and Nasdaq futures rose slightly. Apple stock, Microsoft (MSFT) and Google parent Alphabet (GOOGL) dominated overnight trading. U.S.-listed China stocks bounced back modestly.
The stock market rally slumped Tuesday, led by techs, as a China crackdown continued, UPS (UPS) signaled the e-commerce boom is over and the CDC recommended wearing masks indoors.
Apple (AAPL), Microsoft and Google stock headlined a mammoth night for earnings, along with Advanced Micro Devices (AMD) and Visa (V).
The earnings crush continues Wednesday, with Shopify (SHOP) and Generac (GNRC) among those reporting before the open. Facebook (FB) and PayPal (PYPL) headline among the many companies reporting late. But during Wednesday’s session investors will pay close attention to the Federal Reserve. A two-day Fed meeting ends Wednesday. Will Fed policymakers officially begin talking about tapering massive asset purchases?
The stock market rally had a down session, led by techs. The Dow Jones, S&P 500 index and Nasdaq composite closed off lows and still look healthy a day after hitting all-time intraday highs. But many leading stocks struggled.
Dow Jones Futures Today
Dow Jones futures were just above fair value. S&P 500 futures rose 0.1%. Nasdaq 100 futures climbed 0.4%. Apple, Microsoft and Google stock are all trillion-dollar stocks, along with Facebook.
Apple stock, Microsoft and Visa are Dow Jones components, with Boeing (BA) and McDonald’s (MCD) also reporting earnings early Wednesday. Boeing stock jumped on its first earnings in two years.
U.S.-listed China stocks generally rose in the premarket after massive selling in recent days on Beijing crackdowns on private businesses in a variety of sectors. But the early gains for Alibaba (BABA), Nio (NIO), Futu Holdings (FUTU) and more are just a fraction of what has been lost over the past week and in 2021.
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