Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ US stocks fell hours before the bell

US stocks fell hours before the bell



US stock futures noted lower hours ahead of healthcare earnings reports on Tuesday as giant CVS Health and pharmaceutical company Pfizer released results before the bell.

Stocks in this article

$ 34,113.23

+238.38 (+ 0.70%)

$ 1

3895.118204

-67.56 (-0.48%)

After the trade is over, expect to hear from wireless telecommunications company T-Mobile US, car-sharing company (and Uber’s smaller rival) Lyft, life and health insurer Prudential Financial and the resumption of plays such as Caesars Entertainment, Hyatt Hotels and Host Hotels and Resorts.

On Monday, a strong dose of positive income reports and economic data, which showed that the US economy is growing, pushed the S&P 500 by 0.3%. US futures were lower on Tuesday.

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On Monday, Federal Reserve Chairman Jerome Powell said the economic outlook had “obviously improved” in the United States, but the recovery remained too uneven.

Health and energy companies helped boost inventories by closing the S&P 500 at 4,192.66.

The Dow Jones industrial average added 0.7% to 34,113.23. The tech Nasdaq reported early gains, falling 0.5% to 13,895.12.

US stock futures are moving lower hours ahead of healthcare earnings reports on Tuesday as service giant CVS Health and pharmaceutical company Pfizer released results before the opening bell.

The smaller companies performed well. The Russell 2000 index rose 0.5% to 2,277.45.

Stocks are higher than the company’s expectations for economic recovery and strong profits this year, as large-scale coronavirus vaccination programs help people return to work and normal activities after more than a year of restrictions. Massive support from the US government and

More than half of the companies in the S&P 500 are reporting their results so far this season of profits, which so far show profit growth of 54%, according to FactSet.

This is another busy week for revenue reports, with Merck, Pepsi, Colgate-Palmolive and CVS among companies reporting their latest quarterly results. On Friday, investors will also receive the report on jobs in April.

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On the economic front, a report on US manufacturing activity in April was below economists’ expectations, but was still strong for the month. The Institute of Supply Management Institute’s production index reached 60.7 in April, compared to 65.0 readings expected. However, this figure is still well above the 50-point level, which indicates an expansion of production activity.

A report on construction costs in the United States shows similar results, making profits, but still does not meet the forecasts of economists. Expenditures on construction projects rose by only 0.2% in March, the trade minister said on Monday, well below the 1.7% expected by economists.

Yields on the 10-year US bond fell to 1.60% from 1.65% late on Friday.

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Asian stocks, meanwhile, were mostly higher on Tuesday after strong corporate gains and economic data lifted shares on Wall Street.

Hong Kong, Sydney and Seoul have advanced. Tokyo and Shanghai were closed for vacation.

Hang Seng in Hong Kong rose 0.5% to 28,500.95 and the S & P / ASX 200 gained 0.5% to 7,060.40. In Seoul, Kospi rose 0.6% to 3,144.66. Indian Sensex added 0.3% to 48,889.73.

Shares fell in Taiwan, Singapore, Jakarta and Malaysia.

The Reserve Bank of Australia left its policies unchanged on Tuesday at its May meeting.

The lack of trade in China and Japan and mixed results in New York “left regional content sitting on Covid-19’s nerves regionally, offsetting the excitement of opening up Wall Street gnomes,” Jeffrey Halley of Oanda said in a comment.

US crude gave up 8 cents to $ 64.41 a barrel in e-commerce on the New York Mercantile Exchange. On Monday, it rose 91 cents to $ 64.49 a barrel. Raw Brent, the international standard, fell 10 cents to $ 67.46 a barrel.

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The US dollar rose to 109.33 Japanese yen from 109.09 yen late Monday. The euro fell to $ 1.2035 from $ 1.2066.


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