By Sam Boughedda
Investing.com – Stocks rallied on Tuesday despite a steady climb in the 10-year Treasury as corporate earnings continued to roll in.
Investors are awaiting the release of Netflix’s latest numbers, due after the closing bell tonight.
Oil fell 5% on the day but there weren’t many new headlines about Russia’s war in Ukraine. World financial leaders are meeting in Washington, D.C., this week at the spring meeting of the World Bank and International Monetary Fund, which cut its global growth forecast to 3.6% from 4.4% this year because of the effects of the war.
The 10-year bond yield rose to 2.9% earlier on Tuesday. Next month the Federal Reserve is expected to raise rates an uncharacteristically aggressive half-point in response to inflationary pressures, though the Ukraine war continues to be a wild card.
Though the S&P 500 is down 6% this year, investors seem to be shrugging off rising rates and embracing the chance to buy technology and other big company stocks.
More S&P 500 companies report this week, including Tesla, AT&T (NYSE:T) and Procter & Gamble. Existing home sales data along with oil inventory data are due out tomorrow morning as well.
Here are three things that could affect markets tomorrow:
1. Netflix earnings
Netflix Inc (NASDAQ:NFLX)'s highly anticipated earnings will be posted after the close today. Analysts are expecting earnings per share to come in at $2.95 on revenue of $7.94 billion, according to data tracked by Investing.com. In its previous report, Netflix forecasted 2.5 million global streaming paid net additions for the first quarter.
2. Tesla earnings
Tesla Inc (NASDAQ:TSLA) will report after the close Wednesday. The electric vehicle leader has already reported 310,048 new vehicle deliveries in the first quarter. Analysts are looking for earnings per share to come in at $2.24 on revenue of $17.63 billion.
3. P&G earnings
Procter & Gamble Company (NYSE:PG) will release earnings on its latest quarter ahead of the open Wednesday. Forecasts see the company posting earnings per share of $1.30 on revenue of $18.72 billion.