Key Advisors Group CEO Eddie Ghabour talks about the earnings season, the Coinbase exchange and investing in today’s markets.
U.S. stock futures tend to trade higher as earnings season begins on Wall Street with the big banks.
The major futures indices indicate small movements when the Wednesday session begins.
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The earnings quarter in the first quarter begins Wednesday morning with a trio of banks – Dow members JPMorgan Chase and Goldman Sachs, and financial services giant Wells Fargo delivering the results.
Another inflation-related report in the form of import and export prices for March will appear on the economic calendar. The prices of imported goods probably rose by 1% last month, compared to the rise of 1.3% in February. Meanwhile, export prices are expected to rise by 1% in the meantime, compared to an increase of 1.6% the previous month.
CONSUMER PRICES AFTER THE LARGEST MONTHLY INCREASE SINCE AUGUST 2012
The US government reported on Tuesday that consumer prices rose 0.6% stronger in March than expected, the fastest rate since 2012.
In Europe, the London FTSE added 0.2%, the DAX of Germany slipped by 0.1% and the CAC of France 0.3%.
In Asia, the Japanese Nikkei 225 plunged 0.4%, the Hang Seng in Hong Kong by 1.4% and the Shanghai Composite Index by 0.6%.
Wall Street’s benchmark S&P 500 index closed 0.3% higher in bad trading. Technical and consumer stocks gained through optimism through the deployment of vaccines will make business activities normal again. Johnson & Johnson declined after U.S. regulators suspended the use of its single-dose vaccine to investigate potentially dangerous blood clots.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| Ek: DJI | DOW JONES AVERAGE | 33677.27 | -68.13 | -0.20% |
| SP500 | S&P 500 | 4141.59 | +13.60 | + 0.33% |
The Dow Jones industrial average fell 0.2% to 33,677.27. The Nasdaq, which has more technology stocks, rose 1.1% to 13,996.10.
Apple rose 2.4% and Microsoft rose 1%. Technology shares have been raised by expectations that after the pandemic, Americans will move even more toward online shopping and entertainment.
Johnson & Johnson fell 1.3%. Moderna, which also makes a COVID-19 vaccine, climbed 7.4%.
Yields on the ten-year US Treasury fell to 1.62% from Monday’s 1.67%.
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In the energy markets, standard US crude rose 95 cents to $ 61.14 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 48 cents to $ 60.18 on Tuesday. International price standard Brent crude rose 99 cents to $ 64.63 a barrel in London. That added the ongoing session by 39 cents to $ 63.67 a barrel.
The Associated Press contributed to this report.