Street Wants Details Covering Tax Reform
Video: Preview the day’s action on Wall Street before the opening bell with the Morning Report as the Street Wants Details Covering Tax Reform. Dow, Nasdaq and S&P futures are flat. Crude is down 2% on a glut of supply coming from inventory.
Wall Street undecided after mulling Trump tax plan
Here are some Morning Headlines:
U.S. stock futures were searching for direction this morning after a rally on Wall Street for most of Wednesday lost steam, The Dow, S&P 500, and Nasdaq all closed slightly lower. But the Nasdaq did touch a new intraday high. (CNBC)
With two trading days left in April, the Dow and S&P 500 are on track for their fifth positive month out of the past six, and the Nasdaq is on track for its sixth consecutive monthly gain. (CNBC)
Earnings continue to pour in today, with Ford (F), American Airlines (AAL), Under Armour (UAA) out this morning. The after-the-bell list features big tech names including Alphabet (GOOGL), Amazon (AMZN), Intel (INTC), and Microsoft (MSFT). Starbucks (SBUX) also issues quarterly results this afternoon. (CNBC)
Here is this week’s earnings calendar provided by Earnings Whispers as the Street Wants Details Covering Tax Reform.
The following are brief summaries on companies reporting earnings this morning:
Comcast — The NBCUniversal parent reported quarterly profit of 53 cents per share, nine cents above estimates, with revenue also exceeding Wall Street forecasts. The company said it saw exceptionally strong film performance, as well as revenue growth in its high-speed internet and business services units. It also registered growth in the theme park business.
Southwest Airlines — The airline fell two cents short of estimates with adjusted quarterly profit of 61 cents per share, while revenue was also below forecasts. Southwest did say it was pleased with the quarter, considering higher fuel prices and the current passenger revenue yield environment.
Dow Chemical — The chemical maker reported adjusted quarterly profit of $1.04 per share, falling 12 cents short of estimates, though revenue did beat forecasts. Dow did say that leading indicators point to improved performance going forward.
Bristol-Myers Squibb — The drug maker reported adjusted quarterly profit of 84 cents per share, ten cents above estimates. Revenue was also better than expected, helped by strong sales of the company’s cancer and blood thinning drugs.
Information Credit: News headlines and quotes were taken from CNBC in the writing of this post.