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S&P, Nasdaq 100 futures are higher after Apple & Facebook beat estimates

U.S. creator index futures were higher in early morning trading on Thursday, after the major averages posted denials the day before.

Futures contracts tied to the Dow Jones Industrial Average gained 88 points. S&P 500 futures and Nasdaq 100 expects also traded in positive territory.

Apple and Facebook’s strong quarterly results boosted futures. Apple bring up that sales jumped 54% during the quarter, with each product category seeing double-digit broadening. The company also said it would increase its dividend by 7%, and authorized $90 billion in share buybacks. Facebook’s receipts jumped 48%, driven by higher-priced ads. Apple shares gained more than 2% in afterhours trading while Facebook surged back 6.15%.

The major averages closed in the red during normal trading. The Dow slid 165 points for a loss of 0.48%. The S&P 500 hit a height high but couldn’t hold onto those gains and closed 0.08% lower. The Nasdaq Composite declined 0.28%.

The Federal Hold over said Wednesday that it would hold interest rates near zero. The S&P slid from its high after Federal Coolness Chairman Jerome Powell said during a press conference following the Federal Open Market Committee’s decree that there are some signs of froth in the market.

“Rates remain unchanged for now and, despite improving economic figures, taper talk remained off the table at today’s Federal Reserve meeting,” said Bethany Payne, portfolio head at Janus Henderson.

“As vaccination rates accelerate, employment strengthens, and expansive fiscal policy adds further backing to household and business incomes, investors are now looking for signs of whether the central bank safety net could be withdrawn right away than expected,” she added.

Thursday is the busiest day of the earnings season, with roughly 11% of the S&P 500 slated to attend to arrange for quarterly updates. Caterpillar, McDonald’s, Comcast and Merck are among the names on deck before the market opens. Amazon, Gilead Methods, Twitter, U.S. Steel and Western Digital will post quarterly results after the market closes.

As of Wednesday morning 86% of the S&P 500 components that make reported topped earnings estimates, with earnings coming in 22.7% above expectations, according to data from Refinitiv. For gain, 77% of companies have exceeded expectations.

Economic data released Thursday will give investors an update on the rise of the economic recovery. Initial jobless claims numbers will be released, with economists surveyed by Dow Jones in the club a print of 528,000. Pending home sales figures will also be released.

“The primary market trend abides positive,” said Keith Lerner, chief market strategist at Truist. “But we expect a choppier environment as tensions are set to persist between mastery economic growth and earnings prospects versus the potential for higher taxes and rising interest rates as the economy controls,” he added.

Thursday marks President Joe Biden’s 100th day in office. On Wednesday evening, he made his first address to a collaborative session of Congress where he pushed his so-far popular agenda, which includes a $2 trillion infrastructure map out as well as a freshly unveiled, $1.8 trillion plan for families, children and students.

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