|Day's Range||26,458.60 - 26,553.05|
|52 Week Range||21,712.53 - 26,951.81|
Stocks treading water here ahead of a monster week for earnings, with a 140 S&P 500 companies set to report.
Herman Cain's nomination to the Federal Reserve Board of Governors might have ended before it ever began, raising questions about the fate of Stephen Moore's confirmation.
Shares of Verizon Communications Inc. rallied 1.1% in premarket trade Tuesday, after the wireless, internet and TV services provider beat first-quarter profit expectations, while revenue was in line, and raised its outlook. Net income rose to $5.16 billion, or $1.22 a share, from $4.67 billion, or $1.11 a share, in the same period a year ago. Excluding non-recurring items, adjusted EPS rose to $1.20 from $1.17, beating the FactSet consensus of $1.17. Revenue grew 1.1% to $32.13 billion, compared with the FactSet consensus of $32.15 billion. Total wireless revenue rose 3.7% to $22.7 billion, above the FactSet consensus of $22.5 billion, while wireline revenue fell 3.9% to $7.3 billion, matching expectations of $7.3 billion. Wireless retail postpaid net additions totaled 61,000, consisting of net losses of 44,000 phones and 156,000 tablets, and net additions of 261,000 other connected devices, primarily wearables. Postpaid smartphone net additions were 174,000. The company raised it guidance for 2019 adjusted EPS to show "low single-digit percentage growth" versus previous guidance that it would be "similar" to 2018. The stock has gained 3.8% year to date through Monday, while the SPDR Communications Services Select Sector ETF has run up 19.6% and the Dow Jones Industrial Average has hiked up 13.7%.
More profit reports are coming Tuesday after a day of mixed trading on Wall Street on Monday. Dow futures were a little higher in early morning, while oil prices rose again.
Gold prices on Tuesday head lower as one popular measure of the U.S. dollar teeters near a two-year high, producing some headwinds for bullion.
U.S. stock-index futures on Tuesday edge lower ahead of a barrage of quarterly results, including blue-chip consumer-focused companies, Coca-Cola Co., and Procter & Gamble Co., which investors will pore over to glean the health of American corporations.
Coca-Cola Co. shares rose 3.2% in Tuesday premarket trading after the global beverage company reported first-quarter earnings and revenue that beat expectations. Net income totaled $1.68 billion, or 39 cents per share, up from 1.37 billion, or 32 cents per share, last year. Adjusted EPS of 48 cents beat the 46-cent FactSet consensus. Revenue was $8.02 billion, up from $7.63 billion last year and ahead of the $7.89 billion FactSet expectation. Coca-Cola will host its annual meeting on April 24, at which James Quincey will become chairman, succeeding Muhtar Kent, who started in 1978 and is retiring. The company maintained its full-year organic revenue guidance for 4% growth, and full-year adjusted EPS range from down 1% to up 1%. Coca-Cola stock is up 0.1% for 2019 to date while the Dow Jones Industrial Average has gained 13.7% for the period.
Procter & Gamble Co. said Tuesday it had net income of $2.776 billion, or $1.04 a share, in its fiscal third quarter, up from $2.540 billion, or 95 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.06, ahead of the $1.03 FactSet consensus. Sales rose 1% to $16.462 billion from $16.281 billion, ahead of the FactSet consensus of $16.364 billion. The maker of Oral-B, Pampers and Tide products said it now expects full year sales growth of flat to up 1%. It is sticking with its forecast for full-fiscal 2019 GAAP EPS to grow 17% to 24%, and non-GAAP EPS to climb 3% to 8%. Shares fell 1% in premarket trade, but have gained 45.2% in the last 12 months, while the Dow Jones Industrial Average , which counts P&G as a member, has gained 8.4% and the S&P 500 has gained 8.9%.
Earnings are the focus as the market awaits results from The market awaits earnings from Coca-Cola, United Technologies, and Procter & Gamble, among others.
Investors are skittish about Caterpillar stock. Is it cheap enough to buy at 12 times estimated 2019 earnings or is it a value trap? Investors will look for clarity when Caterpillar reports earnings on Wednesday.
Boeing stock was down only slightly after a report highlighted new safety concerns with another Boeing plane, its 787 Dreamliners.
Global stocks trade mixed, with modest gains in Asia and a dip for European benchmarks, as investors return to the first full trading day following last week's Easter break. U.S. equity futures suggest little change on Wall Street ahead of earnings from Verizon, Procter & Gamble, Coca-Cola and Harley Davidson as well as April services PMI data at 9:45 Eastern Time.
SINGAPORE (AP) — World stocks were mixed on Tuesday ahead of the release of U.S. housing data and more earnings reports. Oil prices soared to their highest level since October on supply fears, after the Trump administration said it would soon impose sanctions on all buyers of Iranian oil.
Days later, he appeared to send shockwaves across Wall Street with a suggestion that the European Central Bank should consider buying stocks as a form of additional stimulus rather than sticking to the playbook of purchasing debt only. Just as he’s looking beyond just bonds for his new fund, Rieder thinks Mario Draghi and his successor should consider doing the same.
Based on the early price action, the direction of the June E-mini Dow Jones Industrial Average on Tuesday is likely to be determined by trader reaction to the minor pivot at 26470.
More than 140 S&P 500 companies are scheduled to release their quarterly results this week. So far, the majority of corporate earnings reports have topped expectations
Major U.S. stock indexes closed mostly lower Monday, as losses in banks and other sectors offset solid gains in energy companies following a surge in crude oil prices. The price of crude oil rose to its ...
U.S. stocks ended a low-volume trading session little changed on Monday, with the biggest gains in the energy sector as investors otherwise stayed on the sidelines ahead of quarterly earnings. Investors were waiting for some of the biggest S&P 500 companies, including Boeing Co, Amazon.com Inc and Facebook Inc to report first-quarter results later in the week. Phil Orlando, chief equity market strategist, at Federated Investors, in New York said he has been encouraged by quarterly results even though it was early in the reporting season.
U.S. stocks close mostly higher Monday as investors face a big week for corporate quarterly results and economic data.
Crude oil prices are surging to a five month high this morning on news that President Trump wants to push Iranian oil exports to zero. The State Department announced that it's ending waivers for five countries to import crude from Iran. Yahoo Finance's Editor-in-Chief Andy Sewer, Jared Blikre, Alexis Christoforous and Brian Sozzi discuss.