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U.S. Stock Futures at Record Highs as Earnings Impress

Stock MarketsOct 26, 2021 10:17
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© Reuters.

By Oliver Gray

Investing.com - U.S. stock futures remained little changed in early APAC trades on Tuesday, after closing at record highs in the previous session with market participants proving optimistic as major technology companies begin to report third quarter earnings results.

The Dow Jones Industrial Average and S&P 500 closed at record highs on Monday, lifting 0.18% and 0.47% respectively. Meantime, the Nasdaq Composite lifted 136.51 points or 0.9% to 15226.71, closing about 1% below its all-time high. For the month, the Dow and the Nasdaq Composite both added 5%, while the S&P 500 gained 5.46%.

Dow futures rose just 0.04%. S&P 500 futures gained 0.12% and Nasdaq 100 futures rose 0.22%.

Among stocks, Tesla Inc (NASDAQ:TSLA) surged 12.66% during regular deals, after Morgan Stanley (NYSE:MS) hiked its price target on the shares to $1,200 from $900. Sentiment was further boosted on news that rental car company Hertz would order 100,000 Tesla vehicles. Meantime, Facebook Inc (NASDAQ:FB) moved 1.06% higher in extended deals after reporting results that came in generally above analyst expectations.

Investors will be closely monitoring a fresh slew of earnings results from technology heavyweights Alphabet Inc (NASDAQ:GOOGL) and Microsoft Corporation (NASDAQ:MSFT), while 3M Company (NYSE:MMM), Visa Inc (NYSE:V), Twitter Inc (NYSE:TWTR) and Robinhood Markets Inc (NASDAQ:HOOD) are also set to report after the closing bell Tuesday.

U.S. Stock Futures at Record Highs as Earnings Impress
 

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