Wake Up Wall Street (SPX) (QQQ): US indices at record high ahead of GOOG, MSFT earnings
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UNLOCK OFFERHere is what you need to know on Tuesday, October 26:
Today is a huge earnings day. Futures for the Dow and S&P 500 hit record levels after Facebook (FB) reported earnings above consensus on Monday after the market close as well as initiating a $50 billion buyback plan. Investors were relieved that Apple's (AAPL) iOS changes to privacy did not affect Facebook's top line, as it did to Snap, but executives did warn the privacy changes could affect sales in the fourth quarter.
Tuesday will now offer earnings releases by Alphabet (GOOG), Microsoft (MSFT), AMD and Robinhood Markets (HOOD).
United Parcel Service (UPS) unveiled quarterly profits up 23% on the back of strong e-commerce traffic. General Electric raised its full-year guidance.
New US Home Sales data arrives at 10:00 EST. S&P/Case-Shiller Home Prices Index came in at 19.7% YoY for August, below the 20.1% consensus.
WTI is trading slightly higher at $84.14, up 0.45%. Gold trades at $1,800.50, down 0.35%. Bitcoin is at $62,379.50, and the 10-year Treasury yields at 1.627%, slightly lower.
European markets are booming: Euro Stoxx 50 +0.82%, Dax +1% and FTSE +0.65%.
US futures are also optimistic: Nasdaq Composite +0.56%, Dow +0.32% and S&P 500 +0.39%.
Wall Street (SPY) (QQQ) top news
Draft Kings (DKNG) up 9% premarket after talks end over possible acquisition of Entain.
CrowdStrike Holdings (CRWD), up 2%, is teaming up with Amazon Web Services (AMZN) to better protect against ransomware.
Tilray (TLRY) says it is expanding medical cannabis business in Europe.
Facebook (FB) up 2.5% in premarket after announcing $50 billion buyback plan and beating Q3 EPS consensus.
Upstart Holdings (UPST) downgraded by Jefferies from Buy to Hold but price target raised from $160 to $330.
Beyond Meat (BYND) downgraded by Credit Suisse from Neutral to Underperform with the price target moved from $123 to $75.
Coty (COTY) upgraded by Deutsche Bank from Hold to Buy with price target moved up $1 to $11.
People's United Financial (PBCT) upgraded by KBW from Market Perform to Outperform.
Bakkt Holdings (BKKT) surges another 65% in premarket after rising 234% on Monday on deal with Mastercard (MA).
General Electric (GE) reported adjusted EPS of $0.57, well ahead of expectations.
Economic Calendar
Here is what you need to know on Tuesday, October 26:
Today is a huge earnings day. Futures for the Dow and S&P 500 hit record levels after Facebook (FB) reported earnings above consensus on Monday after the market close as well as initiating a $50 billion buyback plan. Investors were relieved that Apple's (AAPL) iOS changes to privacy did not affect Facebook's top line, as it did to Snap, but executives did warn the privacy changes could affect sales in the fourth quarter.
Tuesday will now offer earnings releases by Alphabet (GOOG), Microsoft (MSFT), AMD and Robinhood Markets (HOOD).
United Parcel Service (UPS) unveiled quarterly profits up 23% on the back of strong e-commerce traffic. General Electric raised its full-year guidance.
New US Home Sales data arrives at 10:00 EST. S&P/Case-Shiller Home Prices Index came in at 19.7% YoY for August, below the 20.1% consensus.
WTI is trading slightly higher at $84.14, up 0.45%. Gold trades at $1,800.50, down 0.35%. Bitcoin is at $62,379.50, and the 10-year Treasury yields at 1.627%, slightly lower.
European markets are booming: Euro Stoxx 50 +0.82%, Dax +1% and FTSE +0.65%.
US futures are also optimistic: Nasdaq Composite +0.56%, Dow +0.32% and S&P 500 +0.39%.
Wall Street (SPY) (QQQ) top news
Draft Kings (DKNG) up 9% premarket after talks end over possible acquisition of Entain.
CrowdStrike Holdings (CRWD), up 2%, is teaming up with Amazon Web Services (AMZN) to better protect against ransomware.
Tilray (TLRY) says it is expanding medical cannabis business in Europe.
Facebook (FB) up 2.5% in premarket after announcing $50 billion buyback plan and beating Q3 EPS consensus.
Upstart Holdings (UPST) downgraded by Jefferies from Buy to Hold but price target raised from $160 to $330.
Beyond Meat (BYND) downgraded by Credit Suisse from Neutral to Underperform with the price target moved from $123 to $75.
Coty (COTY) upgraded by Deutsche Bank from Hold to Buy with price target moved up $1 to $11.
People's United Financial (PBCT) upgraded by KBW from Market Perform to Outperform.
Bakkt Holdings (BKKT) surges another 65% in premarket after rising 234% on Monday on deal with Mastercard (MA).
General Electric (GE) reported adjusted EPS of $0.57, well ahead of expectations.
Economic Calendar
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