US Markets Await Earnings Reports

US Markets Await Earnings Reports

US Markets Await Earnings Reports

US stock futures slipped on Tuesday as Treasury yields climbed higher, while investors awaited a fresh batch of corporate earnings reports. Dow and S&P 500 futures fell 0.2% and 0.5%, respectively, while Nasdaq 100 futures lost 1%. The benchmark US 10-year yield climbed to pre-pandemic highs above 1.8% this week on expectations of interest rate hikes in the US. The shortened trading week will also feature quarterly reports from index heavyweights including UnitedHealth, Bank of America, Netflix, Morgan Stanley and Goldman Sachs. Of the 26 S&P 500 companies that have reported fourth-quarter earnings so far, nearly 77% posted better-than-expected results. Forward guidance from companies has also been largely positive for 2022 despite disruptions from the omicron on some businesses. Analysts argued that earnings and business performance become increasingly more important in an environment of rising interest rates.

Rising US 10 Year Bonds Yields and Hawkish Fed is pushing the Nasdaq Lower. The first resistance is 15.642 and first support level is 15.404 Level.

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