Here are five things you need to know on Tuesday, October 26:
1. – Futures on stocks increase the profit from the power of profit
US stock futures rose again on Tuesday, potentially raising both the Dow and the S&P 500 to new record highs as earnings continue to boost market efficiency amid rising energy prices and inflation prospects.
TSLA Tesla’s breach of yesterday’s $ 1 trillion market barrier, as well as the stronger-than-expected start of a busy week for US corporate profits, raised the S&P 500 to a new record, and oil and bank stocks helped boost growth. Down to the last closing peak in history.
Revenues will again take center stage on Tuesday, pre-release updates from General Electric (GIVE) – Get a report from General Electric Company (GE)., 3М (MMM) – Get a 3M report, Eli Lily (LLY) – Get a report from Eli Lilly and Company (LLY)., Lockheed Martin (LMT) – Get a report from Lockheed Martin Corporation (LMT). and Raytheon (RTX) – Receive a report from Raytheon Technologies Corp, from Microsoft (MSFT) – Get a report from Microsoft (MSFT)., Twitter (TWTR) – Get a report from Twitter, Inc., and Advanced Micro Devices (AMD) – Get a report from Advanced Micro Devices, Inc. following the bell.
According to Refinitiv, 119 companies reported earnings this season, and the S&P 500’s total profit will increase by 34.8% compared to last year to $ 430.3 billion.
On Wall Street, futures contracts linked to the Dow Jones Industrial Average indicate an increase of 105 points, while those related to the S&P 500 are estimated at 19 points before growth.
Nasdaq Composite technology futures are up 98 points as 10-year Treasury bond yields fall to 1.623% ahead of a $ 60 billion 2-year bond auction later in the session.
2. – Facebook receives mixed profits, Zuckerberg responded to the accusations of whistleblowers
Facebook (FB) – Get a report from Facebook, Inc. Class A shares jumped up in pre-market trading after the social media giant published a mixed set of earnings for the third quarter, announcing plans to report profits from its project “metaverse” as a separate unit in the coming years.
Founder and CEO Mark Zuckerberg also dismissed the recent stream of accusations against the group, including high-ranking informant Francis Haugen, calling the idea that Facebook promotes divergent content “deeply illogical.”
“We make money from advertising, and advertisers keep telling us that they don’t want their ads to be associated with harmful or angry content,” Zuckerberg wrote in his blog. “And I don’t know of any technology company that’s going to create products that make people angry or depressed.”
Shares of Facebook rose 2.4% during pre-market trading, indicating a starting price of $ 336.50 each.
3. – Tesla joins Trillion Club, Musk is worth more than Nike
Tesla (TSLA) – Get Report Tesla Inc Shares fell in pre-market trading, which led to the value of the environmental car company founder and CEO Ilona Maska absorbed the territory of $ 1 trillion after the first violation of the benchmark earlier Monday.
Tesla, which took just over a decade as a public company to achieve the iconic rating, joins the elite list of only five other American companies that have risen to this peak: Microsoft, Apple, Facebook, the parent company Google Alphabet. (GOOGL) – Get a report of class A Alphabet Inc, Amazon (AMZN) – Get a report from Amazon.com, Inc..
Musk noted his satisfaction with the milestone by writing “Wild $ T1mes” from his verified account, but added that the latest push made by the news of ordering 100,000 Model 3s from Hertz Global was “weird” … “Tesla is very the problem of speed of production, not demand. “
In any case, Tesla is now worth more than almost all of its global competitors combined, and yesterday’s share price increase of 12.66% led to the fact that Mask’s personal wealth is $ 288.6 billion – more than the entire market capitalization of sportswear giant Nike NKE.
Tesla shares were 0.1% lower in pre-market trading, indicating a starting call price of $ 1,024.00. USA each.
4. – Katie Wood, Elon Musk discuss the “inflation curve”
Not content with expanding his leadership as the world’s richest man, nor celebrating his company’s entry into the trillion-dollar club, Tesla founder and CEO Elon Musk was able to find time yesterday to address the global inflation debate with the fund’s star manager Katie Wood.
Wood, who manages the Ark Investment Management Group, which includes the innovative ARKK ARK ETF, is an active supporter of Tesla and one of its most important investors. She also argues that technical innovations, including advances in artificial intelligence and blockchain technology, will “bend” the inflation curve in the coming years, slowing prices and potentially provoking a period of global deflation.
Musk responded to Wood’s comments via his confirmed Twitter account, noting that “I don’t know about the long-term, but short-term we see strong inflationary pressures.”
Market inflation expectations are at a seven-year high, while the Fed’s preferred inflation rate, the main PCE price index, has accelerated to the fastest pace in 30 years last month.
A so-called black check group, which plans to make former President Donald Trump’s media company public, is starting to attract short sellers as it rises to $ 2.7 billion without a business plan, employees, funding or strategy.
Digital World Acquisition Corp. DWAC, which was quoted in early September for just under $ 10, rose more than 700% after plans to make Trump Media & Technology Group public last week.
Digital World CEO Miami Patrick Orlando told Reuters on Friday that details of the merger, as well as full disclosure to the Securities and Exchange Commission, could appear as early as this week, although questions remain as to whether such companies will allow like Apple-supported Trump app on their iPhones, will allow Amazon to support its web hosting division.
“We are short $ DWAC. Now that the initial excitement has passed, we see only risks for investors in the near future. Based on Trump’s track record, at the current price, negotiations are likely to keep most of the combined company behind him, “Iceberg Research said in a brief sale on Twitter late Monday.
Shares of DWAC rose 4.45% in pre-market trading on Tuesday, indicating a starting price of $ 13.37 each.