Stock Futures Edge Higher as Big Tech Earnings Roll In

Facebook-parent Meta (FB) will report earnings after today's close

Digital Content Manager
Apr 27, 2022 at 9:09 AM
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Futures on the Dow Jones Industrial Average (DJIA) are attempting another rebound this morning, last seen up 190 points, after the blue-chip index settled at its lowest level since March 2021 yesterday. Futures on both the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also pointed higher, as traders sift through the latest batch of tech earnings reports, which included Microsoft (MSFT) and Alphabet (GOOGL). They are eyeing quarterly results from Facebook-parent Meta (FB) too, which will come after today's closing bell.

Continue reading for more on today's market, including:

  • What the spike in VIX call buying could tell us.
  • This retail stock has several levels of support in place.
  • Plus, Boeing's earnings disappoint; General Motors reaffirms 2022 outlook; and unpacking Microsoft's big earnings win.

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5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1 million call contracts traded on Tuesday, and 782,524 contracts. The single-session equity put/call ratio rose to 0.72, and the 21-day moving average jumped to 0.58.
  2. Boeing Co (NYSE:BA) is sharply lower ahead of the bell, last seen down 4.2%. The blue-chip aerospace name's first-quarter losses were wider than anticipated, while revenue also missed expectations. Boeing noted higher costs for commercial and defense aircrafts, as well as the Russia-Ukraine war. Year-over-year, BA is now down 30.8%.
  3. The shares of General Motors Company (NYSE:GM) are up 1.5% ahead of the open, after the automaker posted better-than-expected first-quarter earnings. While the company also missed revenue estimates, it reaffirmed its 2022 outlook. So far this year, GM is down 35.1%.
  4. Microsoft Corporation (NASDAQ:MSFT) is up 3.3% in the premarket, following the tech giant's top- and bottom-line wins for the third-quarter. Also boosting the security was its strong fourth-quarter revenue guidance for its productivity, cloud and personal computing segments. The equity is still down 19.7% year-to-date, though. 
  5. Today will bring an advance report on international trade in goods, the pending home sales index, and home ownership data.

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European Markets Brush Off Economic Growth Fears

Stocks in China rebounded today, following their recent selloff amid surging Covid-19 cases and strict lockdowns. The country's Shanghai Composite jumped 2.5%, while the Hong Kong Hang Seng rose 0.06%. Plus, China's industrial profits rose 8.5% year-over-year from January to March. Elsewhere, Japan's Nikkei dropped 1.2%, while the South Korean Kospi shed 1.1%.

Over in Europe, the bourses are brushing off economic growth concerns, as well as yesterday's announcement that Russia will halt gas flows to Poland and Bulgaria starting today. London's FTSE 100 is up 0.7% midday, while the French CAC 40 is 0.5% higher, and the German DAX has climbed 0.3%.

 

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