Skip to content
Y M L P-201

Y M L P-201

Business Will Do Anything

Primary Menu Y M L P-201

Y M L P-201

  • Business Insurance
  • Business News
  • Insurance News
  • Sky Business
  • Upi News
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Business News

Stocks rebound to close higher as investors weigh flurry of earnings reports

4 months ago magenet

U.S. stocks rallied Tuesday, clawing back from a rough start to the week as investors assessed a deluge of earnings reports for clues on how corporate America has fared against a backdrop of war in Eastern Europe and rising inflationary pressures.

[Click here to read what’s moving markets heading into Wednesday, April 20] 

The S&P 500 advanced 1.6% to mark its best day in a month, and the Dow Jones Industrial Average closed the session out 500 points higher. The tech-heavy Nasdaq Composite extended gains to 2.2% after settling at a one-month low on Monday along with the S&P 500.

Meanwhile, Treasury yields continued their climb, with the 10-year U.S. benchmark hitting 3% for the first time in three years.

“The bond market, you could argue, is way out ahead of the Fed in a way the stock market is playing wait-and-see,” Interactive Brokers’ chief strategist Steve Sosnick told Yahoo Finance Live on Tuesday. “Maybe the stock market is actually, in this case, saying ‘I’m not going to fight the Fed,’ and the bond market in fact is.”

The International Monetary Fund (IMF) said Tuesday that the global economic recovery will “slow significantly” this year due to Russia’s invasion of Ukraine. IMF officials downgraded their forecasts for economic growth, projecting global GDP will rise 3.6% in 2022 (a downgrade from January’s projection of 4.4%) and another 3.6% in 2023 (also a downgrade from the last projection of 3.8%).

“This crisis unfolds while the global economy was on a mending path but had not yet fully recovered from the COVID-19 pandemic,” said IMF Economic Counsellor Pierre-Olivier Gourinchas.

Quarterly results from 69 companies in the S&P 500 are in the queue for investors to digest through Friday. Big names on the docket of earnings set for release this week include United Airlines (UAL), American Express (AXP) and Tesla (TSLA).

Netflix (NFLX) — the first tech giant to report earnings this week — revealed an unexpected drop in net subscribers, a closely-watched metric for investors, in its results out Tuesday after the bell. The subscriber losses, the first for the company in over a decade, came as Netflix navigated an exit from Russia and an increasingly saturated North American market.

Netflix shares cratered nearly 22% in post-market trading to $272.40 a piece as of 4:11 p.m. ET.

As of Monday (the latest available data), 53% of 34 S&P 500 companies (comprising 10% of index earnings) that have reported so far beat on both sales and earnings per share, Bank of America’s research team pointed out, slightly better than the typical Week 1 beat rate of 47% and last quarter’s Week 1 rate of 50%. The institution expects a first quarter EPS beat of 4% but anticipates downside risks to the full year 2022 estimates, which imply earnings accelerating every quarter into next year.

“Pressure on profit margins from higher costs for virtually everything, notably labor, materials, and transportation, made this quarter difficult to navigate,” LPL Financial strategists Jeff Buchbinder and Ryan Detrick said in commentary Monday. “Add spillover from the Russia-Ukraine conflict and intermittent COVID-19 lockdowns in China, and companies’ bottom lines are getting hit from several directions.”

“Despite the tough environment, we believe the odds favor companies beating estimates as they have done historically on the back of double-digit revenue growth,” Buchbinder and Detrick added. “High inflation translates into more revenue so earnings can grow at a solid pace even with some narrowing of profit margins.”

Contrary to BofA, research from FactSet suggests that although analysts have tempered their expectations on first quarter earnings, lowering bottom-up EPS forecasts in aggregate for Q1 by 0.7% from $52.21 to $51.83, EPS forecasts for the second, third, and fourth quarters are higher. Earnings estimates for all of 2022 have also risen 2.2% this year to $228.50 per share.

“The number one takeaway for investors should be to watch how your stock reacts more than the news,” Heritage Capital President Paul Schatz told Yahoo Finance Live. “If your stock rallies on bad news, that’s a pretty good sign the markets have absorbed and digested and have priced in the bad news.”

—

4:12 p.m. ET: Netflix reports subscriber loss for first time in more than 10 years

Streaming giant Netflix (NFLX) reported an unexpected drop in first-quarter net subscribers, a closely-watched metric for investors. The subscriber losses — the first for the company in over a decade — came as Netflix navigated an exit from Russia and an increasingly saturated North American market.

Netflix shares cratered nearly 22% in post-market trading to $272.40 a piece as of 4:11 p.m. ET.

The drop in new users came as a surprise to Wall Street, with analysts looking for a slowdown but still positive growth in subscriptions during the fiscal first quarter. Subscribers grew by nearly 4 million in the same quarter last year. And in total, Netflix had more than 220 million global subscribers as of the end of last quarter.

—

4:00 p.m. ET: S&P 500, Dow, and Nasdaq gain as earnings season ramps up

Here’s how the major indexes capped the trading session following an up day on Wall Street:

  • S&P 500 (^GSPC): +70.79 (+1.61%) to 4,462.48

  • Dow (^DJI): +501.19 (+1.46%) to 34,912.88

  • Nasdaq (^IXIC): +287.30 (+2.15%) to 13,619.66

  • Crude (CL=F): -$5.53 (-5.11%) to $102.68 a barrel

  • Gold (GC=F): -$36.60 (-1.84%) to $1,949.80 per ounce

  • 10-year Treasury (^TNX): +5.1 bps to yield 2.9130%

—

3:16 p.m. ET: Johnson & Johnson rescinds vax sales forecast amid lower demand

Johnson & Johnson (JNJ) dialed back its forecast for COVID-19 vaccine sales due to a glut of supply over hesitancy in low income countries.

The company previously projected sales of up to $3.5 billion on the single-dose shot in 2022, but demand has waned.

Use of the shot has been weak in high-income countries, hurt by reports of rare, potentially deadly blood clots, production issues, including an accidental mix-up of ingredients by a contract manufacturer, and concerns about efficacy.

Shares of Johnson & Johnson were up 3.3% to $183.45 a piece as of 3:15 p.m. ET.

—

1:49 p.m. ET: All three major indexes advance more than 1% with earnings underway

Here were the main moves in markets during intraday trading:

  • S&P 500 (^GSPC): +51.23 (+1.17%) to 4,442.92

  • Dow (^DJI): +368.87 (+1.07%) to 34,780.56

  • Nasdaq (^IXIC): +220.18 (+1.65%) to 13,552.54

  • Crude (CL=F): -$5.14 (-4.75%) to $103.07 a barrel

  • Gold (GC=F): -$28.70 (-1.44%) to $1,957.70 per ounce

  • 10-year Treasury (^TNX): +4.1 bps to yield 2.9030%

—

11:16 a.m. ET: Investors await earnings report from Netflix after the bell

Netflix (NFLX) is set to report quarterly after market close. Investors are bracing for a further growth slowdown amid the company’s exit from Russia and as its key North American market grows increasingly saturated.

Wall Street expects Netflix will report revenue of $7.95 billion for the fiscal first quarter, earnings per share of $2.91, and net subscriber additions of 2.51 million.

If realized, new subscribers of 2.51 million would represent the smallest quarterly addition for Netflix since the second quarter of 2021. Subscribers grew by nearly 4 million in the same quarter last year, and in total, Netflix had more than 220 million global subscribers as of the end of last quarter.

Netflix has been grappling with slowing user growth for much of the past year, with new users slowing to a trickle after a pandemic-fueled surge in sign-ups. But further exacerbating this slowdown will be Netflix’s exit from Russia in early March, which came following the country’s invasion of Ukraine earlier this year. Cowen analyst John Blackledge estimated Russia comprised about 1 million subscribers for Netflix.

Shares of Netflix were up 3% during intraday trading to $347.99 per share as of 11:16 a.m. ET.

—

9:33 a.m. ET: Stocks flat as investors digest earnings, downgraded IMF forecast

Here’s where the main indexes were trading during Tuesday’s opening bell:

  • S&P 500 (^GSPC): +3.54 (+0.08%) to 4,395.23

  • Dow (^DJI): +92.77 (+0.27%) to 34,504.46

  • Nasdaq (^IXIC): -18.72 (-0.14%) to 13,332.36

  • Crude (CL=F): -$3.38 (-3.12%) to $104.83 a barrel

  • Gold (GC=F): -$22.50 (-1.13%) to $1,963.90 per ounce

  • 10-year Treasury (^TNX): +4.3 bps to yield 2.9050%

—

9:08 a.m. ET: IMF says Russia-Ukraine war will cause global economy to ‘slow significantly’

The International Monetary Fund (IMF) said the global economic recovery will “slow significantly” this year due to Russia’s invasion of Ukraine.

The IMF downgraded growth prospects in Eastern European countries but also warned that countries around the world will be affected by the disruption to commodities markets as a result of the war. The international body now expects global GDP, a measure of economic growth, to rise 3.6% in 2022 (a downgrade from January’s projection of 4.4%) and another 3.6% in 2023 (also a downgrade from the last projection of 3.8%).

“This crisis unfolds while the global economy was on a mending path but had not yet fully recovered from the COVID-19 pandemic,” said IMF Economic Counsellor Pierre-Olivier Gourinchas.

Russia saw the largest downgrade in the IMF report, with the country’s economy now expected to contract by 8.5% this year (compared to the 2.8% growth it had projected prior to the invasion).

—

8:58 a.m. ET: Housing starts rise, building permits increase in March

U.S. homebuilding activity picked up unexpectedly last month, but starts for single-family housing fell amid rising mortgage rates.

The Commerce Department reported housing starts registered an increase of 0.3% in March to a seasonally adjusted annual rate of 1.793 million units last month. February data was revised higher to a rate of 1.788 million units from the previously reported 1.769 million units. Bloomberg economists had forecast starts slipping to a rate of 1.740 million units.

Permits for future homebuilding increased 0.4% to a rate of 1.873 million units last month.

The 30-year fixed-rate mortgage averaged 5.0% during the week ended April 14, the highest since February 2011, up from 4.72% in the prior week, per mortgage finance agency Freddie Mac. Further increases are expected as the Federal Reserve moves forward on its monetary tightening plans.

“Mortgage rates are flying ever higher, but residential construction of single-family homes started this month are solid and home builders are not heading for the exits yet,” FWDBONDS chief economist Christopher S. Rupkey said in a note. “At some point, housing starts will fall this year as the market is on a collision course for buyers with rising prices and higher costs of borrowing.”

Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021.   REUTERS/Mike Blake

Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. REUTERS/Mike Blake

—

7:10 a.m. ET: Stock futures near breakeven, Treasury yield grazes 2.9%

Here’s how the main benchmarks fared in pre-market trading Tuesday:

  • S&P 500 futures (ES=F): -2.75 points (-0.06%) to 4,384.00

  • Dow futures (YM=F): -2.00 points (-0.01%) to 34,311.00

  • Nasdaq futures (NQ=F): -18.25 points (-0.13%) to 13,889.50

  • Crude (CL=F): -$1.59 (-1.47%) to $106.62 a barrel

  • Gold (GC=F): -$5.00 (-0.25%) to $1,981.40 per ounce

  • 10-year Treasury (^TNX): +0.00 bps to yield 2.8620%

—

6:13 p.m. ET Monday: Futures jump as earnings season sets into full swing

Here were the main moves in markets heading into overnight futures trading Monday:

  • S&P 500 futures (ES=F): +14.25 points (+0.32%) to 4,401.00

  • Dow futures (YM=F): +104.00 points (+0.30%) to 34,417.00

  • Nasdaq futures (NQ=F): +59.50 points (+0.43%) to 13,967.25

  • Crude (CL=F): -$0.77 (-0.71%) to $107.44 a barrel

  • Gold (GC=F): -$4.90 (-0.25%) to $1,981.50 per ounce

  • 10-year Treasury (^TNX): +3.4 bps to yield 2.8620%

A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., April 11, 2022. REUTERS/Andrew Kelly

A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., April 11, 2022. REUTERS/Andrew Kelly

—

Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn

Tags: Amazon Fba Business, Atlanta Business Chronicle'S, Boss Baby Back In Business, Business Administration Degree, Business Attire Women, Business Card Design, Business Cards Templates, Business Casual Dress, Business Casual Outfits, Business Checking Account, Business Credit Card, Business For Sale Near Me, Business Intelligence Platform, Business Lawyer Near Me, Business Loan Calculator, Business Name Ideas, Business Professional Women, Business Spectrum Login, California Business Entity Search, Capital One Spark Business, Carl Weber'S The Family Business, Charlotte Business Journal, Custom Business Cards, Delaware Business Search, Fl Sos Business Search, Florida Business Search, Harvard Business Publishing, Insurance For Small Business, Kelley School Of Business, Maryland Business Express, Maryland Business Search, Moo Business Cards, National Business Furniture, New York Business Search, Ohio Business Gateway, Onedrive For Business, Online Business Ideas, Paramore Misery Business, Risky Business Cast, Small Business Insurance, Spectrum Business Customer Service, Tom Cruise Risky Business, Us Small Business Administration, Verizon Wireless Business, Verizon Wireless Business Login, Virtual Business Address, What Is Business Administration, Women'S Business Casual, Yelp Business Login, Yelp For Business

Continue Reading

Previous Cyclone Bulbul Loss of life Toll Rises To 12 In Bangladesh, Five Fishermen Lacking
Next Israel Competition Authority raids Willi-Food offices

More Stories

  • Business News

Twitter

3 hours ago Marna
  • Business News

What Is WEB OPTIMIZATION Marketing?

22 hours ago Marna
  • Business News

The Business Of Technology

3 days ago Marna

Recent Posts

  • Twitter
  • What Is WEB OPTIMIZATION Marketing?
  • The Business Of Technology
  • Digital Shops In Denmark » Find The Top Three Online Shops
  • Unemployment Claims Rise Anew In Latest Sign Of Financial Distress

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • December 2016

Categories

  • Business
  • Business Insurance
  • Business News
  • General
  • Insurance News
  • Sky Business
  • Upi News

Visit Now

Example

BL

TL

Intellifluence Trusted Blogger

promo toyota malang

You may have missed

  • Business News

Twitter

3 hours ago Marna
  • Business News

What Is WEB OPTIMIZATION Marketing?

22 hours ago Marna
  • Business News

The Business Of Technology

3 days ago Marna
Digital Shops In Denmark » Find The Top Three Online Shops
  • Business News

Digital Shops In Denmark » Find The Top Three Online Shops

3 days ago Marna
  • Business News

Unemployment Claims Rise Anew In Latest Sign Of Financial Distress

4 days ago Marna
ymlp201.net All rights reserved. | CoverNews by AF themes.