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FinanceStock futures are flat after Dow, S&P close at records

Stock futures are flat after Dow, S&P close at records

U.S. inventory index futures have been little modified throughout in a single day buying and selling on Tuesday after the Dow and S&P closed at report highs as earnings season continues.

Futures contracts tied to the Dow Jones Industrial Average and S&P 500 have been flat. Nasdaq 100 futures declined 0.09%.

During common buying and selling the Dow superior roughly 15 factors to finish the day at an all-time excessive. It was the 30-stock benchmark’s third straight day of positive factors and fifth constructive session within the final six. Earlier within the session the Dow jumped about 150 factors to additionally hit a report intraday excessive.

The S&P gained 0.18% for its ninth constructive session within the final ten, and in addition hit each a report intraday and shutting excessive. It was the benchmark index’s seventieth intraday excessive of 2021, and 57th report closing of the 12 months.

The Nasdaq Composite gained 0.06% for its third constructive session in 4. Facebook weighed on the tech-heavy index, with shares of the social media firm dipping 3.9%.

Microsoft and Alphabet have been among the many headline experiences on Tuesday after the market closed, with each topping income expectations.

“This earnings season has been about pricing momentum and whether consumers are able to handle surging costs,” famous Ed Moya, senior analyst at Oanda. “So far it seems the consumer can handle it,” he added.

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So far roughly 30% of the S&P 500 has reported earnings. Of the names which have posted quarterly updates, 82% have topped earnings expectations, whereas 80% have exceeded income estimates. Strong outcomes have been key to pushing the most important averages to new highs.

“We see signs that there could be more gains to come in the final two months of the year,” mentioned Ryan Detrick, chief market strategist for LPL Financial. “Seasonal tailwinds, improving market internals, and clear signs of a peak in the Delta variant all provide potential fuel for equities heading into year-end, and we maintain our overweight equities recommendation as a result.”

A busy earnings week continues on Wednesday with Coca-Cola, McDonald’s, Bristol-Myers, Boeing, General Motors and Harley-Davidson among the many names on deck earlier than the market opens. Ford, eBay and Yum China will present quarterly updates after the market closes.

On the financial entrance, U.S. sturdy items order information will likely be launched on Wednesday at 8:30 a.m. ET.

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