Associated media – Associated media
Tuesday evening saw a positive shift in stock futures, signaling a rebound following a halt to Wall Street’s recent three-day downturn.
Futures for the S&P 500 Index climbed by 0.6%, with Nasdaq 100 Futures experiencing a 0.9% increase. Meanwhile, the Dow Jones Industrial Average futures surged by 215 points, approximately 0.55%.
Post-market trading observed a significant drop in shares of Super Microcomputer, which declined over 13% despite exceeding fiscal fourth-quarter earnings expectations. Conversely, Airbnb’s shares decreased by 16% due to underwhelming performance in its second-quarter financial results.
On Tuesday, during standard trading hours, the primary indices curtailed a sequence of losses, each making notable gains. The S&P 500 and the Nasdaq Composite both increased by 1%, and the Dow added nearly 300 points. This recovery follows Monday’s session, which was marked as the worst since 2022, driven by fears of a recession and the unwinding of the yen carry trade.
Quincy Krosby, chief global strategist at LPL Financial, remarked on the uncertainty of whether Tuesday’s market rally could be sustained amidst ongoing economic turbulence. “It’s unclear if the market concerns that triggered recent sell-offs have been fully addressed,” he commented. “Expectations of continued volatility through the end of summer and into early fall remain, though they often herald new opportunities.”
Adam Crisafulli, founder of Vital Knowledge, shared some positive insights on CNBC’s “Closing Bell: Overtime,” noting that recent earnings reports have brought some optimism. “While the economy shows signs of cooling, American companies are adapting effectively, managing to produce solid earnings,” he stated.
The earnings season is set to proceed vigorously on Wednesday, with anticipated reports from Disney and CVS Health before market open. Additionally, Shop and Novo Nordisk are expected to release their financial results, drawing keen interest from investors.
Linked media – Related media
