Stock futures near record highs as investors look to profit – .

Stock futures near record highs as investors look to profit – .

Shares traded mixed on Friday morning as investors received another batch of results and more data on the pace of the economic recovery.
The S&P 500 rose after the market opened, setting a new intraday high. The Dow Jones also gained, while the Nasdaq fell behind after some weaker-than-expected tech earnings.

Snap (SNAP) shares sank after missing third-quarter revenue and offering weak guidance for the current quarter as Apple’s iOS privacy updates hurt social media platform’s advertising business . The failure also catalyzed a drop in shares of peer social media companies, including Facebook (FB) and Alphabet (GOOGL).

Shares of Intel (INTC) also fell after the company said margins would be under pressure for the next three years, in part reflecting challenges from global material shortages. And Chipotle (CMG) shares have fluctuated between small gains and losses despite posting better-than-expected quarterly same store sales, although the company reported widespread staff shortages.

Despite some of the more recent mixed earnings results, the S&P 500 and Dow Jones have hovered a striking distance from their all-time highs, boosted by a series of earlier estimates surpassing quarterly corporate earnings and economic data. Both helped allay concerns about a decelerating growth environment after an increase in reopening activity earlier this year.

New data on Thursday showed weekly jobless claims improved to their lowest level since March 2020 last week, falling more than expected as layoffs, layoffs and other involuntary layoffs slowed further in the labor market . And existing home sales recorded their biggest jump since September 2020 last month, showing still strong demand for homes even as stocks remained tight and prices rose.

And based on the quarterly results so far, many companies have shown that they have managed to increase their profits even in the face of rising input and labor costs and the challenges of the supply chain. ‘supply.

“Let’s not forget that we are coming out of very high margins, so there is room for a little squeeze there. What we are seeing in the first earnings releases, which is perhaps the reason the stock markets are reaching new highs, is that operating leverage within companies is currently so important, ”said Gibson Smith, founder of Smith Capital Investors, at Yahoo Finance Live. Thursday. “Think of revenue growth in the arena of 18%, or you see bottom line growth in the 50, 60, 70% range. These are all good things for US companies, and I think it will actually be the fuel to kick the stock prices higher. “

Investors are hoping for further confirmation of the strong trends seen so far in corporate earnings next week, with a more robust set of third quarter results expected to be released. Components of the heavily weighted stock index, from Apple to Amazon and Facebook, are expected to release quarterly results throughout next week.

9:32 am ET: Stocks mostly open lower amid mixed earnings

Stocks were mixed as markets opened on Friday, but continued to advance towards weekly gains after a record rise earlier this week.

The Dow Jones traded only 22 points higher, or less than 0.1%, shortly after the opening bell. Both the Nasdaq and the S&P 500 fell as tech stocks slumped in the wake of both Snap and Intel earnings losses. US crude oil prices rose more than 1% to climb back above $ 83 a barrel, while the 10-year Treasury yield hovered around 1.67%.

7:21 a.m. ET Friday: Stock futures trading mixed, Nasdaq under pressure

Here’s where the markets were trading before the opening bell:

  • S&P 500 Futures Contracts (ES = F): +4.75 points (+ 0.1%), at 4,546.5
  • Dow Futures (YM=F): +59 points (+ 0.17%), at 35,539.00
  • Nasdaq Futures (NQ = F): -25.75 points (-0.17%) to 15,453.00
  • Brut (CL=F): + $ 0.54 (+ 0.65%) to $ 83.04 per barrel
  • Or (CG=F): + $ 11.50 (+ 0.65%) to $ 1,793.40 per ounce
  • 10-year cash flow (^TNX): unchanged, yielding 1.674%

6:07 p.m. ET Thursday: Stock futures drop

Here’s where the markets were trading on Thursday night:

  • S&P 500 Futures Contracts (ES = F): -13.25 points (-0.29%), to 4,528.50
  • Dow Futures (YM=F): -31 points (-0.09%), to 35,449.00
  • Nasdaq Futures (NQ = F): -93.75 points (-0.61%) to 15,385.00
NEW YORK, NEW YORK – SEPTEMBER 30: Traders work on the floor of the New York Stock Exchange (NYSE) on September 30, 2021 in New York City. In the afternoon, the Dow Jones fell more than 250 points as investors continued to worry about inflation, wages and supply chain issues. (Photo by Spencer Platt / Getty Images)

Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter


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