Traders work on the floor of the New York Stock Exchange (NYSE) in New York.
Brendan McDermid | Reuters
S&P 500 futures edged higher on Thursday as investors analyzed the latest corporate earnings that fell after the bell.
Futures linked to the broad index rose 0.1%, while Nasdaq 100 futures gained 0.33%. Futures linked to the Dow added 5 points, or 0.01%.
A few gains that came after the bell weighed on the market. Tesla and Levi Strauss were among the stocks higher after beating expectations for revenue and earnings per share.
IBM fell nearly 2% despite beating analysts’ expectations. The veteran tech giant also said it would cut 3,900 jobs, or about 1.5% of its workforce. Chevron, meanwhile, rose nearly 3% after announcing a $75 billion share buyback program.
“We’re clearly in the heart of earnings season at this point,” said Bill Northey, senior investment director at US Bank. “There was some positive news and some less positive news.”
These reports come after a mixed session on Wall Street. The Dow ended Wednesday’s session up 0.03% after earlier falling more than 400 points. Meanwhile, the Nasdaq Composite and S&P 500 fell just 0.18% and 0.02%, respectively.
Investors will be eyeing earnings from airlines including Southwest, American, Alaska and JetBlue on Thursday. Intel will also report. They will also be on the lookout for morning data on jobless claims, gross domestic product, durable goods and new home sales.
https://www.cnbc.com/2023/01/25/stock-futures-are-flat-as-investors-weigh-latest-corporate-earnings.html S&P 500 futures are slightly higher as investors weigh recent corporate earnings