Market Updates
Earnings Optimism Lifts Nasdaq and S&P 500
Barry Adams
21 Apr, 2022
New York City
U.S. stock indexes open higher as investors digest the latest earnings from American Airlines, United Airlines, and Tesla. Airlines are estimating profit in the current quarter and in the full-year as passenger traffic rebounds.
Tesla reported a surge in revenues and earnings after vehicle deliveries rose despite the supply chain disruptions. Investors are awaiting to hear comments from Fed Chairman Jerome Powell this afternoon hoping to get more clues on the next course of Fed actions in tackling elevated inflation.
U.S. Treasury 10-year bond yield climbed to 2.85% as real interest rates continue to hover deep in the negative territory with the reported consumer price index indicating inflation at 6.5%.
In Europe, DAX and CAC 40 indexes are up more than 1.5% and FTSE 100 index is trading 0.3% higher.
In Asian markets, the Sensex index in India soared 1.5% after a 3-day market sell-off, Nikkei index in Tokyo closed up 1.2% but the Hang Seng index in Hong Kong closed down 1.2%.
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