Good morning traders and investors of the r/stocks sub! Welcome to the new trading day and a fresh start! Here are your pre-market stock movers & news on this Tuesday, April the 18th, 2023-

S&P 500 futures rise after better-than-expected results from J&J, Bank of America: Live updates

Stock futures rose Tuesday morning, boosted by an important round of first-quarter earnings results that topped Wall Street expectations and suggested companies are faring better than feared in this tough economic environment.

Dow Jones Industrial Average futures gained 65 points, or 0.2%, while S&P 500 futures were 0.4% higher. Nasdaq 100 futures rose 0.6%. The moves came after the major averages gained to kick off a stacked week of corporate earnings.

Bank of America added about 3% before the bell after surpassing first-quarter expectations on the top and bottom lines as rates rose. Johnson & Johnson’s results topped estimates and the drug and raised its 2023 guidance, lifting the Dow member nearly 2% in premarket trading. Netflix weighs in after the market close.

Some of Tuesday’s bullish sentiment was dented after Goldman Sachs reported lighter-than-expected first-quarter revenue.

In global economic news, China GDP rose at a 4.5% pace in the first quarter the highest level in a year and more than the 4% estimate.

Stocks finished higher during Monday’s regular trading session. The Dow Jones Industrial Average rose 100.71 points, or 0.3%. The S&P 500 gained 0.33%, while the Nasdaq Composite added 0.28%.

While earnings results so far have proved resilient, traders are on the lookout for insight into how companies are holding up amid a period of persistent inflation and rising interest rates, paying close attention to financials after dual bank failures last month sent shockwaves across the sector.

“There’s been a lot of pessimism about the economic outlook, about the financial outlook, since the beginning of last year,” Yardeni Research’s Ed Yardeni said Monday on CNBC’s “Closing Bell.”

“I have said that I think we’re in a recession. We’ve been in a recession since last year. But it’s a rolling recession, and it keeps rolling in different industries, and all in all, it isn’t adding up to an economywide recession,” Yardeni added.

On the economic front, traders are watching for the latest housing starts and building permits data. March housing starts are expected to fall 3.4% to 1.40 million units, according to consensus estimates from Dow Jones.

March building permits data is forecasted to drop 4.9% to 1.45 million units, according to economists polled by Dow Jones.