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Dow Jones, Wall Street seen higher on busy day of earnings

Published 2024-04-23, 06:52 a/m
© Reuters.  Dow Jones, Wall Street seen higher on busy day of earnings

Proactive Investors - Futures trading had the markets opening higher on a busy day of earnings on Wall Street.

The Dow Jones was up 62 points at 38,530 in pre-market trading, while the Nasdaq and S&P 500 climbed 47 and 11 points respectively to 17,397 and 5,058.

Spotify was among pre-market movers, up 8.4%, after kicking off a busy day of earnings with a report showing a 20% increase in revenue to €3.6 billion on subscriber growth.

General Motors Co (NYSE:GM) was up by 3.5% in the meantime, after beating first-quarter expectations and raising guidance in an update on Monday evening.

Also climbing on an earnings beat was General Electric Co (NYSE:NYSE:GE), by 5.2%, while PepsiCo (NASDAQ:PEP) Inc (NASDAQ:PEP, ETR:PEP) fell following its report.

Also reporting on Tuesday was Philip Morris International Inc (NYSE:NYSE:PM, ETR:4I1) and Visa Inc (NYSE:NYSE:V, ETR:3V64), with Tesla Inc (NASDAQ:TSLA)’s much-anticipated update expected after the market closes.

“It is safe to say that expectations are now low,” eToro analyst Sam North commented ahead of the results, highlighting repeated price cuts recently to stimulate demand.

“Whilst it’s not quite make-or-break territory for Elon Musk’s company, it does feel like a monumental report.”

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