Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

U.S. Futures Mixed; Pfizer Leads Another Busy Earnings Week

Stock MarketsMay 04, 2021 07:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters.

By Peter Nurse - U.S. stocks are seen opening mostly lower Tuesday, consolidating after a strong start to May ahead of another busy earnings week.

At 7:05 AM ET (1205 GMT), the Dow Futures contract was up 10 points, less than 0.1%, S&P 500 Futures traded 4 points, or 0.1%, lower, and Nasdaq 100 Futures dropped 42 points, or 0.3%.

The Dow Jones Industrial Average ended up 0.7% on Monday, the S&P 500 was up 0.3% on the first trading day of the month, while the tech-heavy Nasdaq Composite dropped 0.4%, as signs of a faster reopening of the economy pushed cyclical corners of the market, including energy and materials, higher.  

New York, New Jersey and Connecticut, some of the hardest hit U.S. states, said they will lift most coronavirus-related restrictions on business and social life within two weeks.

The DJIA and S&P 500 indices are up over 11% this calendar year, helped not only by the economic reopening but also by vast sums of fiscal and monetary stimulus, vaccine optimism and accelerating earnings. More evidence of the improved corporate outlook is expected this week, with another 130 companies prepared to release quarterly results.

Pfizer (NYSE:PFE), with BioNTech SE (NASDAQ:BNTX) the maker of the first Covid-19 vaccine built on mRNA technology, reported earnings before the opening bell, and raised its guidance for the current year's earnings and revenue by some 15% to reflect both the eager takeup of its drug and an improvement in its non-vaccine business.

Numbers are also due from T-Mobile US (NASDAQ:TMUS), CVS Health (NYSE:CVS), Global Payments (NYSE:GPN), Activision Blizzard (NASDAQ:ATVI), Match Group (NASDAQ:MTCH) and Under Armour (NYSE:UA), among others.

Turning to economic data, the main release will be factory orders data for March at 10 AM ET (1400 GMT), published a day after the Institute for Supply Management’s purchasing managers survey reported an all-time high for its orders subindex, although its main index weakened from a 36-year high.

Oil prices were largely unchanged Tuesday, with investors digesting the ever increasing number of Covid-19 cases in India but also the continued economic recovery in regions such as Europe and the U.S. 

Helping the tone, Saudi Arabian state oil producer Aramco (SE:2222) beat recorded a 30% rise in first-quarter net profit and maintained its dividend payout, helped by strong oil prices.

U.S. crude oil supply data from the American Petroleum Institute, due later in the session, will be studied with interest.

U.S. crude futures traded 1.9% higher at $65.68 a barrel, while the Brent contract rose 1.9% to $68.86. Both contracts are over 30% higher so far this year.

Elsewhere, gold futures fell 0.5% to $1,783.15/oz, while EUR/USD traded 0.4% lower at 1.2014.


U.S. Futures Mixed; Pfizer Leads Another Busy Earnings Week

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email