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Key Advisors Group CEO Eddie Ghabour on earnings season, the Coinbase IPO and investing in today’s markets.
U.S. equity futures were trading higher as earnings season on Wall Street kicks off beginning with the big banks.
The major futures indexes suggest minor moves when the Wednesday session begins.
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First quarter earnings season begins Wednesday morning with a trio of banks – Dow members JPMorgan Chase and Goldman Sachs, and financial services giant Wells Fargo reporting results.
On the economic calendar will be another inflation-related report in the form of import and export prices for March. Prices of imported goods likely jumped 1% last month, down from February’s 1.3% rise. Export prices, meantime, are also expected to jump 1%, down from a 1.6% increase the previous month.
CONSUMER PRICES POST BIGGEST MONTHLY INCREASE SINCE AUGUST 2012
On Tuesday, the U.S. government reported consumer prices increased by a stronger-than-expected 0.6% in March, the fastest rate since 2012.
In Asia, Japan's Nikkei 225 shed 0.4%, the Hang Seng in Hong Kong advanced 1.3% and China's Shanghai Composite Index gained 0.6%.
Wall Street's benchmark S&P 500 index closed 0.3% higher in choppy trading. Tech and consumer stocks gained on optimism the vaccine rollout will allow business activity to return to normal. Johnson & Johnson declined after U.S. regulators suspended use of its single-dose vaccine to investigate possibly dangerous blood clots.
|I:DJI||DOW JONES AVERAGES||33677.27||-68.13||-0.20%|
The Dow Jones Industrial Average fell 0.2% to 33,677.27. The Nasdaq, which has more technology stocks, gained 1.1% to 13,996.10.
Apple rose 2.4% and Microsoft gained 1%. Technology stocks have been boosted by expectations Americans will shift even more to online buying and entertainment following the pandemic.
Johnson & Johnson fell 1.3%. Moderna, which also makes a COVID-19 vaccine, climbed 7.4%.
The yield on the 10-year U.S. Treasury fell to to 1.62% from Monday's 1.67%.
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In energy markets, benchmark U.S. crude rose 78 cents to $60.97 per barrel in electronic trading on the New York Mercantile Exchange. The contract advanced 48 cents on Tuesday to close at $60.18. Brent crude, the international price standard, gained 77 cents to $64.44 per barrel in London. It added 39 cents the pervious session to $63.67 a barrel.
The Associated Press contributed to this report.
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