Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

U.S. Futures Mixed; Tech Earnings and Fed Meeting in Focus

Stock MarketsApr 28, 2021 06:55AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Peter Nurse   

Investing.com - U.S. stocks are seen opening mixed Wednesday, as investors digest earnings from mega-cap tech companies ahead of the latest Federal Reserve meeting and a key speech from President Joe Biden.

At 7:05 AM ET (1205 GMT), the Dow Futures contract was down 40 points, or 0.1%, S&P 500 Futures traded 4 points, or 0.1%, higher, while Nasdaq 100 Futures dropped 15 points, or 0.1%.

Google parent Alphabet (NASDAQ:GOOGL) released impressive first-quarter earnings after the close Tuesday, sending its stock up over 5% premarket, as the recovering economy and growing use of online services combined to accelerate its advertising and cloud businesses. It also announced a $50 billion share buyback.

By contrast, Microsoft (NASDAQ:MSFT) stock traded around 2% lower even after the software giant offered up its largest revenue growth since 2018, with investors seeking even more to justify the company’s sky-high valuation.

Earnings from Big Tech, which have been behind a lot of the hefty gains that the major stock indices have registered in the last year, continue Wednesday, with both Apple (NASDAQ:AAPL) and Facebook (NASDAQ:FB) due to release numbers after the close.

Boeing (NYSE:BA), Qualcomm (NASDAQ:QCOM), Ford (NYSE:F), eBay (NASDAQ:EBAY) and MGM Resorts (NYSE:MGM) are among the other major corporate earnings scheduled for Wednesday.

Aside from earnings, it’s Fed decision day. 

The U.S. central bank is not expected to change its ultra-easy monetary policies, with the decision due at 2 PM ET (1900 GMT). A lot of the focus will be comments from Chairman Jerome Powell, who has been consistent of late in indicating that policymakers won't be withdrawing support anytime soon. 

Also of interest will be a speech by President Joe Biden before a joint session of Congress, where he is expected to call on U.S. policymakers to pass a $1.8 trillion package aimed toward children and families and the tax increases needed to pay for it.

Oil prices traded marginally higher Wednesday, helped by OPEC+, a group of top producers, deciding to move forward with a gradual output increase as planned, indicating confidence in the growing recovery of global oil demand despite the Covid-19 crisis in India, the world's third-largest importer. 

U.S. crude futures traded 0.4% higher at $63.17 a barrel, while the Brent contract rose 0.3% to $66.08.

These gains occurred even after the American Petroleum Institute detailed that U.S. crude stockpiles rose by over 4.3 million barrels last week. Investors now await crude oil supply data from the U.S. Energy Information Administration later Wednesday.

Elsewhere, gold futures fell 0.8% to $1,765.25/oz, while EUR/USD traded 0.2% lower at 1.2069.

 

U.S. Futures Mixed; Tech Earnings and Fed Meeting in Focus
 

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 Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
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.
Comments (2)
InvestingTest Com
InvestingTest Com Apr 29, 2021 4:04AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
InvestingTest Com
InvestingTest Com Apr 29, 2021 2:34AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
so interesting..
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
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 Investing.com'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
or
Sign up with Email