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Dow futures steady, Disney gains 6% after earnings

Published 2024-02-07, 07:20 p/m
© Reuters

Investing.com - US stock futures were trading in a tight range during Wednesday's evening deals, following a positive session for major benchmark indices as investors digested a fresh batch of earnings results.

By 6:40 pm ET (11:40 pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were trading within a range of 0.1%

In extended deals, Walt Disney Company (NYSE:DIS) lifted 6% after reporting EPS of $1.22 versus $1 expected, on revenues of $23.5 billion versus $23.75 billion expected. The company also announced an increased dividend and a stake in Epic Games, further boosting investor confidence.

PayPal Holdings Inc (NASDAQ:PYPL) shed 7.8%, reporting EPS of $1.48 versus $1.36 expected, while revenues came in at $8 billion versus $7.88 billion expected.

O’Reilly Automotive Inc (NASDAQ:ORLY) fell 4.1%, reporting EPS of $9.26 versus $9.15 expected, on revenues of $3.83 billion versus $3.86 billion expected.

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Wednesday saw the S&P 500 rise by 0.8% to 4,995.06, driven by a tech-led rally. The stronger-than-expected fourth-quarter earnings season has boosted investor confidence in the sustained health of the economy and its potential to continue propelling corporate profits. the Dow Jones Industrial Average gained 156 points or 0.4% to 38,677.4 and the NASDAQ Composite lifted 147.7 points or 1% to 15,756.6.

Ahead in Thursday's trade, investors will be closely monitoring fresh jobless claims data, wholesale inventories and trade sales, as well as speeches from FOMC member Barkin.

On the bond markets, United States 10-Year rates were at 4.115%.

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