Stock futures slightly increased on Thursday as investors aimed to recover from recent losses in the S&P 500 and the Nasdaq Composite.
With over 11% of S&P 500-listed companies already reporting their earnings, early signs point to a positive earning season. Data from FactSet indicates that more than 72% of the companies that have revealed their results so far have surpassed the expectations of Wall Street.
Thursday’s market movement comes after a series of losses, with both the S&P 500 and the Nasdaq Composite marking their fourth consecutive days of decline, a trend not seen since early January. Technology stocks, such as Nvidia, contributed to the downward pressure, while the Dow Jones Industrial Average experienced its seventh decline out of eight sessions.
The recent dip adds to a challenging second quarter for Wall Street, with major indexes all showing losses in April. This is a sharp contrast to the strong performance seen in the first quarter. Furthermore, the Dow, S&P 500, and Nasdaq have all closed below their respective 50-day moving averages.
Michael Landsberg, Chief Investment Officer of Landsberg Bennett Private Wealth Management, discussed the recent market decline, linking it to reduced expectations of interest rate cuts. Landsberg highlighted that investors are seizing profits following the strong market performance in the first quarter.
As investors navigate through the market’s ups and downs, they remain vigilant in monitoring earnings reports and economic indicators for insights into future market trends.
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