Stocks opened higher on Wednesday as investors digested early earnings from Goldman Sachs (GS) and awaited results from Netflix (NFLX) and Tesla (TSLA) due later.
The S&P 500 (^GSPC) edged up 0.2%, while the Dow Jones Industrial Average (^DJI) traded up by 0.3%, or more than 110 points. The tech-heavy Nasdaq Composite (^IXIC) added 0.3%.
The second quarter earnings season has got off to a solid start, with better-than-feared reports from Wall Street heavyweights helping lift the Dow to its seventh day of gains in a row on Tuesday. On Wednesday, Goldman Sachs kicked off a busy day, reporting that profit plunged significantly after CEO David Solomon forecast a headwind-heavy quarter. Shares dipped more than 1% in the premarket trade.
After the bell, results are due from Netflix and Tesla — the first to report among the tech giants that have driven a recent stock rally. One question is whether the cooldown in inflation has had any impact on their margins, for EV maker Tesla in particular.
Carvana stock (CVNA) surged after the company said it has signed a deal to reduce its debt by more than $1.2 billion. The used-car retailer reported a year-over-year fall in second quarter sales but topped estimates in an earnings report issued earlier than planned.
The upbeat tone in earnings is lifting hopes that the US economy will avoid a recession, with optimism already growing after last week's reading showed inflation abating.
This content is not available due to your privacy preferences.
Update your settings here to see it.Click here for the latest stock market news and in-depth analysis, including events that move stocks
Read the latest financial and business news from Yahoo Finance
Read Again https://news.google.com/rss/articles/CBMiemh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vbmV3cy9zdG9ja3MtcmlzZS13aXRoLWdvbGRtYW4tb3V0LXRlc2xhLWFuZC1uZXRmbGl4LWFoZWFkLXN0b2NrLW1hcmtldC1uZXdzLXRvZGF5LTExNTg0Njc2Mi5odG1s0gGCAWh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vYW1waHRtbC9uZXdzL3N0b2Nrcy1yaXNlLXdpdGgtZ29sZG1hbi1vdXQtdGVzbGEtYW5kLW5ldGZsaXgtYWhlYWQtc3RvY2stbWFya2V0LW5ld3MtdG9kYXktMTE1ODQ2NzYyLmh0bWw?oc=5Bagikan Berita Ini
0 Response to "Stocks rise with Goldman out, Tesla and Netflix ahead: Stock market news today - Yahoo Finance"
Post a Comment