S&P 500 INDEX (SPX) Live: Markets Eye Potential Bullish Trend as Buying Resumes
Live Updates Live Coverage Updates appear automatically as they are published. S&P 500 Earnings Surprises 10:30 am by Gerelyn Terzo With about 75% of S&P 500 companies having published earnings results, more than three-quarters of them have surprised to the upside on profits while almost 66% reported a positive revenue surprise, according to Factset. Earnings […] The post S&P 500 INDEX (SPX) Live: Markets Eye Potential Bullish Trend as Buying Resumes appeared first on 24/7 Wall St..
Live Updates
S&P 500 Earnings Surprises
With about 75% of S&P 500 companies having published earnings results, more than three-quarters of them have surprised to the upside on profits while almost 66% reported a positive revenue surprise, according to Factset. Earnings growth is nearing 13%, placing the index on track for its second consecutive quarter of double-digit percentage earnings growth.
This article will be updated throughout the day, so check back often for more daily updates.
The markets have made their way into the green today after starting the week with a sluggish start. According to traders, there are signs that buying demand is going to persist based on U.S. equities flow data. David Marlin of Marlin Capital reported that “U.S. equities benefitted from $61B+ of mechanical/systematic flows last week,” suggesting that the trend is poised to continue. The Fed remains the wildcard as the FOMC meets even now to determine the fate of short-term interest rates. All three of the major stock market averages are trading higher, and the SPX ETF is gaining 0.43%.
Tariffs loom but markets are hopeful on reports U.S. and China officials are beginning trade deal talks. The markets will also have to process comments on monetary policy from Fed Chairman Jerome Powell this afternoon.
Bank of America cautioned that the Fed won’t start cutting interest rates until July rather than complying with President Trump’s expectations for policymakers to lower rates sooner than later.
Dow stock Walt Disney (NYSE: DIS) is boosting market sentiment, tacking on over 10% after reporting earnings and revealing a blueprint for a theme park in Abu Dhabi.
Magnificent Seven stocks are a mixed showing. Tesla (Nasdaq: TSLA) revealed EV sales slowed in China. There is excitement around its robotaxi service set to launch in Texas next month.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 222.27 (+0.49%)
Nasdaq Composite: Up 74.07 (+0.39%)
S&P 500: Up 22.51 (+0.40%)
Market Movers
Medical research equipment stock Charles River Labs (NYSE: CRL) is rallying by 21% today after reporting its Q1 results. The company reported a better-than-expected profit of $25.5 million on revenue of $984.2 million, also surpassing consensus estimates.
Uber (NYSE: UBER) stock is falling 1.5% today on revenue weakness.
Novo Nordisk (NYSE: NVO) is adding 3% on hopes for weight loss drug Wegovy demand. The company also cut its 2025 outlook but the markets are focused on the positive.
EV maker Rivian Auto (Nasdaq: RIVN) is up 2% after reporting its Q1 results despite warning that demand will take a hit from tariffs.
The post S&P 500 INDEX (SPX) Live: Markets Eye Potential Bullish Trend as Buying Resumes appeared first on 24/7 Wall St..
