Connect with us

Hi, what are you looking for?


US stock futures hovered after the averages logged gains

US stock futures hovered after the averages logged gains

US stock futures were near flat after the major averages edged higher for April, while the Dow Jones Industrial Average hit its best since January.

Dow futures advanced 19 points, while S&P 500 and Nasdaq-100 futures were flat.

JPMorgan Chase acquired the deposits and most of the assets of troubled lender First Republic. JPMorgan shares advanced 3% in premarket trading.

First Republic announced last week that deposits fell by more than 40% in the first quarter, further reducing already distressed inventory. Shares have fallen by 97% since the beginning of the year.

The blue-chip index rose by 272 points, which is a 0.82% increase, and the S&P 500 increased by 0.84%. The Nasdaq Composite went up 0.69%.

The Dow gained 2.53% for its best monthly performance since January, while the benchmark index gained 1.5%. The technically heavy index posted marginal gains.

Last week’s market data was greatly dominated by earnings reports from large tech companies, proving that earnings are doing much better than anticipated.

Half of S&P 500 companies reported earnings, with more than 79% and about 72% beating earnings and sales estimates. Q1 earnings are currently on track to decline by 3.75%, which is smaller than the 6.75% decline.

Reports from several tech giants helped restore some confidence in the market.

Investors are awaiting the Federal Reserve’s latest rate hike decision. About 79% of traders expect a rate hike of 25 basis points. Wall Street will be watching Fed Chairman Jerome Powell’s remarks.

Reports from Pfizer, Advanced Micro Devices, and CVS Health will be announced later.

Monday is the day that Wall Street looks forward to for the release of the ISM manufacturing data and the S&P Global manufacturing PMI.

JPMorgan shares rise

Shares of JPMorgan advanced 2.87% in premarket trading as the bank took over the First Republic.

JPM said it had acquired all First Republic’s deposits and a substantial portion of its assets. Its shares traded at $142.24 in the premarket, down from $138.26 on Friday.

This acquisition will modestly benefit the company, furthering the wealth strategy and complementing the existing franchise.

The Reserve Bank of Australia is waiting to keep its benchmark policy rate at 3.63%.

The post US stock futures hovered after the averages logged gains appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    Rep. Jennifer Wexton (D-Va.) announced on Tuesday that she has been diagnosed with Parkinson’s Disease. “If there’s one thing that Democrats and Republicans can...

    Latest News

    After Dianne Feinstein announced she’d contracted the shingles in early March, her staff said she planned to return to the Senate within a matter...


    A U.S. District Court judge has ruled that Elizabeth Holmes, founder and CEO of the disgraced blood-testing company Theranos, cannot remain free on bail...

    Latest News

    SEOUL, South Korea — When a group of American lawmakers arrived in South Korea for meetings with government and military officials, President Yoon Suk-yeol...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2022 All Rights Reserved.