{"id":4968,"date":"2023-10-24T10:20:30","date_gmt":"2023-10-24T10:20:30","guid":{"rendered":"https:\/\/infundpros.com\/markets\/stocks\/dow-futures-rise-as-bond-yields-fall-alphabet-and-microsoft-earnings-in-focus\/"},"modified":"2023-10-24T10:20:31","modified_gmt":"2023-10-24T10:20:31","slug":"dow-futures-rise-as-bond-yields-fall-alphabet-and-microsoft-earnings-in-focus","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=4968","title":{"rendered":"Dow futures rise as bond yields fall; Alphabet and Microsoft earnings in focus"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

Investing.com — U.S. stock futures edged higher Tuesday, as bond yields retreated ahead of the release of quarterly earnings from some major tech companies.<\/p>\n

By 06:20 ET (10:20 GMT), the contract was up 115 points, or 0.4%, traded 20 points, or 0.5%, higher and climbed 95 points, or 0.6%.<\/p>\n

Yields fall back, easing pressure on stocks<\/strong><\/h2>\n

The main indices on Wall Street closed in a mixed fashion Monday, as the benchmark traded above the closely followed 5% level before falling back. The broad-based fell 0.2% and the blue chip fell 0.6%, while the tech-heavy rose 0.3%.\u00a0<\/p>\n

The benchmark 10-year Treasury yield has continued to drop Tuesday, falling back to 4.835% and easing the pressure on the highly-leveraged tech sector, in particular.\u00a0<\/p>\n

Bill Ackman’s hedge fund Pershing Square Capital Management has covered its bond short position, the billionaire investor posted on Monday, saying it was too risky to remain short bonds at current long-term rates.<\/p>\n

MIcrosoft, Alphabet (NASDAQ:) top the earnings slate<\/strong><\/h2>\n

The earnings season kicks into top gear this week, with around 30% of S&P 500 companies slated to report.<\/p>\n

Earnings due from tech giants Microsoft (NASDAQ:) and Alphabet (NASDAQ:) are Tuesday\u2019s highlight after the closing bell, but there are also numbers from the likes of Coca-Cola (NYSE:), Spotify (NYSE:) and General Motors (NYSE:) to study.<\/p>\n

About 17% of S&P 500 companies have already reported earnings, and three-quarters of them have posted earnings surpassing analysts\u2019 expectations, according to FactSet.<\/p>\n

U.S. composite PMI likely to slow in October<\/strong><\/h2>\n

Investors will also be keeping an eye on the release of flash U.S. PMIs, providing clues on the economic picture ahead of the Federal Reserve\u2019s policy-setting meeting next week.<\/p>\n

The came in at 50.2 in September, suggesting economic growth largely stagnated. With crude prices rising since then, growth could slow as we head into the fourth quarter.<\/p>\n

The news from Europe wasn\u2019t encouraging, as the eurozone\u2019s fell to 46.5 in October, down from 47.2 the prior month. This was the lowest reading since November 2020, and outside of the COVID-19 pandemic months it was the weakest since March 2013.<\/p>\n

Oil bounces as Gaza diplomacy continues<\/strong><\/h2>\n

Crude prices edged higher Tuesday, bouncing after the previous session\u2019s sharp losses, as developments in the Israel-Hamas war and the potential for a wider conflict in this important oil-exporting region remained the dominant theme.<\/p>\n

By 06:20 ET, the futures traded 0.5% higher at $85.94 a barrel, while the contract climbed 0.5% to $90.31 a barrel.<\/p>\n

The benchmarks tumbled around 3% on Monday as a series of diplomatic missions to Israel and Gaza pushed up hopes over a deescalation in the conflict. This was also accompanied by Hamas agreeing to free some hostages.<\/p>\n

However, the situation remains highly fluid with the market seemingly divided over whether the conflict will continue to ease from here or flare up again.\u00a0<\/p>\n

The industry group releases its latest estimate of U.S. inventories later in the session, and crude stockpiles were expected to have risen last week, while distillate and gasoline inventories fell.<\/p>\n

The official data from the , the statistical arm of the U.S. Department of Energy, is due on Wednesday.<\/p>\n

(Oliver Gray contributed to this item.)<\/p>\n

\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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