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Wall St set to jump at open as Goldman

Open as Goldman

by seriesmy
Wall St set to jump at open as Goldman

Wall St set to jump at open as Goldman

BENGALURU: U.S. stock index futures increased on Tuesday as good financial results from Johnson & Johnson and Goldman Sachs raised expectations that positive corporate news would allay market concerns about a possible recession brought on by rising prices and interest rates.

After posting a better-than-anticipated quarterly profit as rising borrowing prices increased net interest income. Goldman Sachs Group Inc. climbed 2.7% in premarket trade .Softening the hit from a slowdown in investment banking.With this, Goldman Sachs concludes. This quarter’s big U.S. bank earnings reporting on a generally favourable note. The investment bank has announced a division of its operations into three units.

Assisted by high demand for its cancer medicine, Johnson & Johnson increased by 2.0% as the healthcare company outperformed Wall Street expectations for third-quarter revenue and profit.According to Art Hogan, chief market strategist at B. Riley Wealth. The earnings season gives investors the chance to concentrate more on the actual earnings power of corporate America and less on the tricks of the. Backward-looking economic data stream.

The market may require a catalyst to break the downward trend after an earnings season that is better than expected.Investors are concerned that the U.S. Federal Reserve’s fight against inflation may stymie the economy, which is why all three of the major U.S. benchmark stock indexes have experienced losses of more than 12% during the past two months.

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According to Refinitiv statistics, analysts currently anticipate that S&P 500 company profits will have increased just 3% from a year ago, a far smaller gain than the 11.1% growth anticipated at the beginning of July.Along with falls in the benchmark 10-year Treasury note, major mega-cap technology and other growth names like Apple Inc, Meta Platforms, Amazon.com, and Nvidia Corp saw gains between 1.9% and 3.2%.

Microsoft Corp. increased by 2.3% following news that it will be laying off less than 1,000 workers this week. Making it the latest American technology major to do so in the midst of a global economic slowdown. At 8:17 a.m. ET, the Nasdaq 100 e-minis were up 266.75 points, or 2.4%, while the S&P 500 e-minis were up 79.75 points, or 2.16%. The Dow was up 579 points, or 1.92%, at the time.

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