Microsoft and Tesla lifted Nasdaq futures yesterday when they soared past expectations in yesterday’s session. Other American futures followed suit.
Microsoft beat Wall Street expectations with a $33.06 billion compared to a predicted $32.32 billion, gaining 18 points. Analysts said the tech company is still in a stronger position than cloud peers.
Tesla jumped 18.5% after a surprising quarterly profit, announcing it finished building its Shanghai Gigafactory. The Shanghai arm plans to produce 150,000 cars for next year.
The technology future index jumped 35 points or 0.5%. Wall Street expects reports from Amazon, Comcast, Twitter, and Intel Corporations on Thursday.
Twitter and Facebook pulled American futures down when they rolled down to 18% and 1.45%, respectively. Snap Inc. stock also fell by 2.05% at 12.93 yesterday.
Meanwhile, Dow futures gained 18 points or 0.17%. The upward trickle recovered from Caterpillar Inc and Boeing Co slumps from Tuesday’s readings.
Conglomerate company 3M dipped 3% after its disappointing earnings report. PayPal, on the other hand, rose 9.3% when it raised its year-long report.
S&P 500 futures upped 3 points or 0.1%.
The American Investment Today
Economists claim a steeper decline in global growth is more likely than a synchronized recovering. Analysts say investors are anticipating the upcoming summit where the American President plans to finalize a deal with China.
However, this week’s investors will focus on the US Federal Reserve policy meeting next week. Speculations say the central bank will cut interest rates for the third time this year.
Households expect the Fed to cut rates as an attempt to lift gold prices. The metal went up 0.09% to $1,504.62 per ounce.
The dollar index inched higher by 0.04% to 97.669.
In Europe, economists also claim the stretch over Brexit agitates investors, slowing down global growth. UK Prime Minister Boris Johnson admitted the unlikeliness of the Withdrawal’s October 31 deadline. Euro Stoxx 50 futures went up 0.06% at 3,613.