Dow Jones, S&P futures hit record with tech earnings in focus

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AMD, Alphabet, Microsoft and Twitter are among the companies close to the market

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we store Futures hit record highs on Tuesday as investors digest Facebook’s quarterly results and look to more tech Income after the market closes.

The Dow Jones Industrial Average futures rose 101 points, or 0.28%, while the S&P 500 futures and Nasdaq 100 futures rose 0.38% and 0.59%, respectively.

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Facebook Inc. reported mixed quarterly results and guided current quarter revenue below estimates, but shares rose as investors put whistleblower document dumps in the rearview mirror. The social media company said it will begin reporting results to Facebook Reality Labs, an entity working on the “Metaverse” as a separate segment with its next report.

3M Co. Lowered its full-year earnings outlook amid concerns over higher input prices and supply chain disruptions. Earnings and sales were both higher than forecast.

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UPS Inc. Earnings and revenue fell to three-month highs after Q1 quarterly results as online shopping continued to drive demand for package delivery.

General Electric Co.’s profit and industrial free cash flow topped forecasts due to lower revenues. The group issued encouraging full-year earnings guidance.

Hasbro Inc. said supply chain disruptions cost the company $100 million in sales last quarter and warned of a further impact during the holiday season. Sales guidance for the upcoming fiscal year was ahead of expectations at the midpoint.

Moderna Inc.’s COVID-19 vaccine produced the desired immune response in a clinical trial in children between the ages of 6 and 11, the company said. The company plans to submit the results to regulators in the US, Europe and elsewhere in an effort to gain authorization.

Tesla Inc. shares were in focus a day after the company topped a $1 trillion market capitalization for the first time.

Advanced Micro Devices Inc., Alphabet Inc., Microsoft Corp., Texas Instruments Inc., Twitter Inc. and Visa Inc. Companies reporting after the closing bell include:

In commodities, West Texas Intermediate crude rose 24 cents to $84 an ounce, while gold fell $1.70 to $1,805.10 an ounce.

Foreign trade was in shambles.

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European markets rallied across the board, with Britain’s FTSE 100 up 0.63%, France’s CAC 40 up 0.71% and Germany’s DAX 30 up 0.94%.

In Asia, Japan’s Nikkei 225 jumped 1.77%, while China’s Shanghai Composite Index and Hong Kong’s Hang Seng Index dropped 0.34% and 0.36%, respectively.


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