A trader walks outside the New York Stock Exchange in New York City, U.S., April 26, 2021.
REUTERS/Shannon StapletonWith more than half of S&P 500 companies having already reported results so far, profits are seen rising 46% in the first quarter, compared with forecasts of 24% growth at the start of April, according to IBES data from Refinitiv.
Megacap technology stocks rose in premarket trading, with Apple Inc, Amazon.com Inc, Alphabet Inc, and Microsoft Corp adding between 0.2% and 0.7% after posting largely upbeat results in the prior week.
Improving economic data, strong earnings, fiscal stimulus and the Federal Reserve’s ultra accommodative stance have supported markets, pushing the S&P 500 and the Nasdaq indexes to record levels last week.
ET, Dow e-minis were up 181 points, or 0.54%, S&P 500 e-minis were up 20.25 points, or 0.49%, and Nasdaq 100 e-minis were up 50 points, or 0.36%.
Shannon Stapleton, ”, Mark Grant, Riley FBR, Estee
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