Asia Stocks Trade Mixed as US Equity Futures Dip: Markets Wrap
Shares in the Coca-Cola Company rose in pre-market trading after sales beat expectations in the first quarter on early signs of a recovery in demand.
dropping around 2% in the wake of a crash involving one of the company’s cars.
The risk of another destabilizing increase in borrowing costs has also subsided, as bond yields have pulled back from recent highs.
Matthias Scheiber, global head of portfolio management at Wells Fargo Asset Management cited low interest rates, the rollout of COVID-19 vaccines and the fiscal stimulus package in the United States as reasons for his bullish stance on equities.
Analysts also predict double-digit earnings growth for the remaining three quarters of 2021 thanks to a combination of higher earnings and an easier comparison to 2020 as a result of the COVID-19-pandemic.Goldman Sachs’ derivatives research team said in a note to clients that options markets are pointing to broad upside moves for stocks during earnings season.Yes, but: Only 9% of S&P 500 companies have reported earnings, and those have largely been in the banking sector, which has gotten a major boost from lower-than-expected loan losses.Banks delivered a blowout year-over-year earnings growth rate of 248%.What’s next: This week will bring earnings reports from dozens of big names including Coca-Cola, Johnson & Johnson, United Airlines, Intel and Netflix, with the Dow and S&P starting the week at record highs.Like this article? Get more from Axios and subscribe to Axios Markets for free.
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The hiring comes as part of a broader drive to recruit a total of 3,000 programmers worldwide to strengthen Daimler’s software hubs in centres including Berli, Tel Aviv, Seattle and Beijing, the weekly magazine reported.
A global shortage of semiconductors — chips that power massive data-centers, modern autos and countless digital devices — has roiled global manufacturing and is not expected to end soon.
Bloomberg cited a screenshot of Keith Gill’s portfolio showing that he exercised 500 GameStop call options expiring Friday, when the stock closed at $154.69.
With this in mind, we used TipRanks’ database to identify two stocks that boast a Strong Buy analyst consensus rating and considerable upside potential – on top of impressive recent gains.
Taiwan’s tech-focused exports have soared during theCOVID-19 pandemic because of global demand for laptops, tablets and other equipment to support the work-from-home boom, driving its trade surplus with the United States and jacking up the value of the Taiwan dollar.