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 Wednesday, July the 19th, 2023-
Stock futures rise slightly after Dow posts a seventh straight day of gains: Live updates
U.S. stock futures ticked higher Wednesday night after the Dow Jones Industrial Average notched its longest winning streak since 2021.
S&P 500 futures and Nasdaq-100 futures gained 0.1% each. Dow Jones Industrial Average futures climbed 56 points, or 0.16%.
Carvana shares dropped nearly 8% in premarket trading. The online auto retailer said Tuesday it will post second-quarter earnings results on Wednesday, moving the date of its report up from Aug. 3.
The Dow notched a seventh straight positive session on Tuesday for its longest string of gains since March 2021. The Dow rose 366.58 points, or 1.06%. The S&P 500 gained 0.71%, while the Nasdaq Composite climbed 0.76%. All three major averages notched their highest closes since April 2022.
Those gains came as traders pored through quarterly reports from major companies.
Thus far, the second-quarter earnings season is off to a strong start. Of the companies in the S&P 500 that have reported results, 82% have exceeded expectations, according to FactSet data. For many investors, the recent streak of gains bolsters the case for a soft-landing scenario. It’s an outlook that has gained traction after last week’s encouraging inflation data.
“I think that we have to take a hard-landing scenario off the table, and in part, as we approach 2024 it becomes more difficult for us to believe in a downward trajectory to earnings,” Alger’s Ankur Crawford said on CNBC’s “Closing Bell” on Tuesday.
“If you look at, you know, a lot of the tech earnings for example, we’ve troughed and now we’re starting to reaccelerate and grow again. That is a very different scenario than where we entered the year,” Crawford added.
Goldman Sachs is set to report before the open Wednesday. Other major companies such as Netflix, Tesla, IBM and United Airlines will post earnings after the close.
June housing data will release Wednesday at 8:30 a.m. ET. Housing starts are expected to have dropped by 9.3%, according to economists polled by Dow Jones. That would be down from the huge 21.7% jump in the prior month.
Meanwhile, June building permits are anticipated to have declined 0.7%, according to Dow Jones consensus estimates. That would be down from a 5.2% gain the previous month.
STOCK FUTURES CURRENTLY:
(CLICK HERE FOR STOCK FUTURES CHARTS!)
YESTERDAY'S MARKET MAP:
(CLICK HERE FOR YESTERDAY'S MARKET MAP!)
TODAY'S MARKET MAP:
(CLICK HERE FOR TODAY'S MARKET MAP!)
YESTERDAY'S S&P SECTORS:
(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)
TODAY'S S&P SECTORS:
(CLICK HERE FOR TODAY'S S&P SECTORS CHART!)
TODAY'S ECONOMIC CALENDAR:
(CLICK HERE FOR TODAY'S ECONOMIC CALENDAR!)
THIS WEEK'S ECONOMIC CALENDAR:
(CLICK HERE FOR THIS WEEK'S ECONOMIC CALENDAR!)
THIS WEEK'S UPCOMING IPO'S:
(CLICK HERE FOR THIS WEEK'S UPCOMING IPO'S!)
THIS WEEK'S EARNINGS CALENDAR:
(CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!)
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
(CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!)
EARNINGS RELEASES BEFORE THE OPEN TODAY:
(CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!)
THIS AFTERNOON'S AFTER-HOURS EARNINGS CALENDAR:
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS CALENDAR!)
EARNINGS RELEASES AFTER THE CLOSE TODAY:
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES!)
YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
(CLICK HERE FOR FRIDAY'S ANALYST UPGRADES/DOWNGRADES LINK #1!)
(CLICK HERE FOR FRIDAY'S ANALYST UPGRADES/DOWNGRADES LINK #2!)
YESTERDAY'S INSIDER TRADING FILINGS:
(CLICK HERE FOR YESTERDAY'S INSIDER TRADING FILINGS!)
TODAY'S DIVIDEND CALENDAR:
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR!)
THIS MORNING'S STOCK NEWS MOVERS:
(source: [cnbc.com]())
(TO BE POSTED LATER THIS MORNING.) — (TO BE POSTED LATER THIS MORNING.).
STOCK SYMBOL: SPY
(CLICK HERE FOR LIVE STOCK QUOTE!)
FULL DISCLOSURE:
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk.
DISCUSS!
What's on everyone's radar for today's trading day ahead here at r/stocks?
Leave a Reply