Here are the most important news, trends and analyzes from which investors should start their trading day:
1. Stock futures fail to follow Wall Street’s return
Traders are working on the floor of the New York Stock Exchange (NYSE) on April 25, 2022 in New York.
Spencer Platt Getty Images
US stock futures fell on Tuesday as earnings reports from major US corporations spilled ahead of quarterly results after a bell from Microsoft and the parent of Google Alphabet, the first of the mega-tech companies to come out this week.
- Wall Street turned a big turnaround on Monday, with the Dow Jones Industrial Average turning down 488 points to close 238 points, or 0.7 percent more. The S&P 500 and Nasdaq erased losses, ending up 0.6% and 1.3% respectively.
- Bond yields fell amid fears of a slowdown on Tuesday, as a number of key reports hit before the bell rang. March Orders for durable goods coincided with forecasts. There will also be February data on S & P / Case-Shiller housing at 9 am ET, as well as sales of new housing in March and consumer confidence in April at 10 am ET.
2. PepsiCo raises revenue prospects as profits exceed forecasts
In this photo illustration, PepsiCo products are shown on October 5, 2021 in Chicago, Illinois.
Scott Olson Getty Images
PepsiCo’s better-than-expected earnings and adjusted earnings in the first quarter crushed S&P 500 companies, which reported earnings on Tuesday. One day, after rival Coca-Cola secured strong profits and maintained its guidelines, PepsiCo raised its year-round forecast for organic revenue growth. In March, Pepsi joined a number of other Western companies in shutting down part of its business in Russia as a sanction for the attack on Ukraine, but failed to stop sales there entirely like its rival Coca-Cola.
3. The United States expands access to Covid pills; Beijing is conducting mass tests
The coronavirus pill (COVID-19) Paxlovid can be seen in a box at the Misericordia Hospital in Grosseto, Italy, on February 8, 2022.
Jennifer Lorenzini Reuters
The United States is expanding access to oral antiviral treatments against Covid, such as Pfizer’s Paxlovid, by doubling the number of places available, the White House said Tuesday. Drugstores participating in the federal pharmacy program for the distribution of antiviral drugs will be able to order free pills directly from the US government this week.
The capital of China, Beijing, announced a jump in the Covid case over the weekend and began mass tests Monday in the Chaoyang business district. Within the area, a community depicted here is classified as a high risk area.
Jiang Qiming | Chinese News Service Getty Images
Three-quarters of Beijing’s 22 million citizens lined up for coronavirus tests on Tuesday as authorities in the Chinese capital raced to eliminate the emerging outbreak as part of the country’s zero-covid policy. They want to avoid the grueling blockade of the entire city, which has hampered China’s largest city, Shanghai, for a month.
4. The CEO of Twitter says that the future of the company is unclear under Musk; Dorsey supports
Twitter CEO Parag Agraval told employees Monday that the future of the social media company is uncertain after Elon Musk’s private deal ended. Agraval spoke during a company-wide town hall meeting heard by Reuters. Musk, the world’s richest man and CEO of Tesla and SpaceX, is expected to address Twitter staff for a question-and-answer session later.
Twitter CEO Jack Dorsey addresses students during a City Hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018.
Anushri Fadnavis Reuters
Among those who responded to Twitter on Monday to reach a buyout deal with Musk was fellow billionaire and social media co-founder Jack Dorsey. In a tweet Monday night, Dorsey wrote, “Elon is the only solution I believe in. I trust his mission to expand the light of consciousness.”
5. Fidelity to allow retirees to include bitcoins, says WSJ
The Bitcoin logo is visible at the entrance to the Miami Beach Convention Center during the 2022 Bitcoin Conference in Miami Beach, Florida, April 6, 2022.
Marco Belo Reuters
Fidelity Investments will allow investors to add a bitcoin account to their 401 (k) s, according to The Wall Street Journal on Tuesday. The 23,000 companies that use Fidelity to administer their retirement savings proposals will have the opportunity to add bitcoin to their plans later this year, the Journal said. The head of proposals and platforms for retirement in the workplace at Fidelity said that the option will initially be limited to bitcoin, but expects other digital assets to be provided in the future.
– Tanya Machel, Hannah Miao, Sarah Min and Ryan Brown of CNBC, as well as Reuters, contributed to this report.
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