The stock market showed signs of optimism on Wednesday morning, with S&P 500 futures edging higher as investors digested corporate financial releases. Nasdaq 100 futures saw a 0.66% increase, while Dow Jones Industrial Average futures rose by 0.06%.
One of the standout performers was Tesla, whose stock surged over 13% in after-hours trading after announcing plans for more affordable electric vehicle models. Visa and Texas Instruments also saw significant jumps of over 2% and 6%, respectively, following stronger-than-expected reports.
According to data, more than 1 out of every 5 S&P 500-listed firms have reported earnings, with over 75% exceeding Wall Street expectations. The positive earnings reports have helped the S&P 500 and Nasdaq Composite rebound from recent losses, with both indices seeing two consecutive winning sessions.
Earnings season is in full swing, with companies like Boeing, Hasbro, Meta Platforms, Ford, Chipotle, and IBM set to report in the coming days. Traders will also be monitoring economic data on durable goods in the morning for further insight into the state of the economy.
Overall, the stock market is showing resilience and strength as it continues to navigate through earnings season and economic data releases. Investors will be keeping a close eye on company reports and economic indicators as they assess the market’s trajectory in the days ahead.
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