Stock futures advance as investors digest more earnings reports

Soegeefx AppsUS MarketStock futures advance as investors digest more earnings reports

Stock futures rose in early morning trading as investors digested more quarterly reports from the likes of Tesla and United Airlines.

Futures on the Dow Jones Industrial Average added 113 points, or 0.32%. S&P 500 futures ticked up 0.51% and Nasdaq 100 futures gained 0.74%.

First-quarter reports drove after-hours moves Wednesday. Tesla rose more than 5% after better-than-expected earnings, while United added more than 7% after the airlines forecasted aprofit in 2022.

Stocks are coming off a mixed regular trading session Wednesday. The Dow rose 280 points, or 0.8%, boosted by strong earnings from Procter & Gamble, while the technology-heavy Nasdaq Composite was dragged down 1% by Netflix’s post-report plunge. The S&P 500 finished flat.

Netflix shares on Wednesday posted the biggest one-day decline since 2004 after the streamer reported its first subscriber loss in more than a decade. Other streaming companies like Disney and Roku also fell, and other tech stocks were lower.

“It continues to be a pretty bifurcated market,” said Dave Grecsek, managing director in investment strategy and research at wealth management firm Aspiriant. “Some of the more defensive, value-style companies are enjoying good returns. The flipside is some of those more growth-style tech names are going to be struggling.”

Investors are awaiting quarterly reports from companies like AT&T, American Airlines and Snap on Thursday.

Weekly jobless claims are also slated for release Thursday morning.

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