Tag: recover

Posted on

Stocks recover to end 3-day losing streak as traders look ahead to Big Tech earnings; Nasdaq gains 1.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

Stocks recover to end 3-day losing streak as traders look ahead to Big Tech earnings; Nasdaq gains 1.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

U.S. stocks ended higher Monday, erasing earlier losses in the day as concerns over an escalating COVID outbreak in China added to jitters over U.S. economic growth in the face of heightened inflation and monetary policy tightening.

The S&P 500 rose by 0.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to reach 4,296.12. The Dow added more than 200 points, or 0.7{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, to settle at 34,049.46, and the Nasdaq Composite rose by 1.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to close just above 13,000. U.S. stocks bucked the trend of global equity markets, with the major stock indexes in Europe and Asia largely falling on Monday. U.S. Treasury yields dipped, and the benchmark 10-year yield hovered just above 2.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.

West Texas intermediate crude oil futures fell below $100 per barrel, with fears over the economic impact of broadening virus-related restrictions throughout China mounting. Beijing saw a spike in COVID cases over the weekend that prompted more mandatory testing and some lockdowns in the region. And this came as other populous cities including Shanghai have also recently grappled with fresh waves of infections, even as the country works to abolish the virus under a zero-COVID policy.

In a note published last week, Bank of America economist Helen Qiao slashed her forecast for China’s gross domestic product (GDP) growth to 4.2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} from 4.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} for 2022 as the number of lockdowns throughout the country increased.

“COVID-19 lockdowns and restrictions imposed in Shanghai and neighboring cities are not only hitting local demand but also causing logistic breakdowns and widespread supply-chain disruptions within and outside of the area,” Qiao wrote in the note published April 19. “In our view, even if such control measures will ultimately be rolled back and economic activities will gradually normalize by mid-year, a heavy toll on growth already seems inevitable.”

Meanwhile, investors have also been grappling with reassertions from Federal Reserve officials last week that the central bank would be taking a tough stance on reining in inflation. Fed Chair Jerome Powell as well as San Francisco Fed President Mary Daly were among the latest to suggest they saw the case for 50 basis point interest rate hikes this year. These larger-than-typical increases would front-load the Fed’s monetary policy response to inflation in the near-term.

“Mr. Powell once again highlighted the Fed’s focus on elevated prices and the need for policy to move towards neutral to restore price stability. His comments pretty much confirm market expectations of a 50-basis-point hike at the May 3-4 FOMC meeting, which would be the first such move since 2000,” Rubeela Farooqi, chief U.S. economist at High Frequency Economics, wrote in a note. “While Mr. Powell did not comment on the trajectory of policy beyond the May FOMC meeting, other Fed officials — including San Francisco President Daly and Chicago President Evans — have said that a couple of 50-basis-point hikes are possible this year.”

Though Federal Reserve officials are in a quiet period this week ahead of the central bank’s meeting next week, a packed slate of corporate earnings results will pull investors’ attention. In the coming days, a bevy of major companies and stock index components will post results, including Alphabet (GOOGL), Meta Platforms (FB), Apple (AAPL) and Amazon (AMZN).

As of Friday, about one-fifth of S&P 500 companies had reported their actual first-quarter results. Of these, 79{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} topped Wall Street’s earnings estimates, while 69{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} exceeded sales expectations, according to data from FactSet’s senior earnings analyst John Butters. The expected earnings growth rate for the index stood at 6.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} heading into this week, which if carried through the end of reporting season, would mark the slowest growth rate since the fourth quarter of 2020, Butters noted.

—

4:03 p.m. ET: Stocks recover to end 3-day losing streak as traders look ahead to Big Tech earnings: Nasdaq gains 1.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

Here were the main moves in markets as of 4:03 p.m. ET:

  • S&P 500 (^GSPC): +24.34 (+0.57{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,296.12

  • Dow (^DJI): +238.06 (+0.70{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 34,049.46

  • Nasdaq (^IXIC): +165.56 (+1.29{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 13,004.85

  • Crude (CL=F): -$2.92 (-2.86{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $99.15 a barrel

  • Gold (GC=F): -$34.70 (-1.79{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,899.60 per ounce

  • 10-year Treasury (^TNX): -8 bps to yield 2.8260{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

—

2:54 p.m. ET: Twitter announces it will be acquired by Elon Musk

Twitter formally announced it agreed to be purchased by Tesla CEO Elon Musk for $54.20 per share, or $44 billion.

Twitter shareholders are set to each receive $54.20 in cash for each share held, representing a 38{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} premium over Twitter’s closing level on April 1.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said in a press statement. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”

—

12:42 p.m. ET: S&P 500, Dow hold lower, Nasdaq pares some earlier declines

The three major stock indexes traded mostly lower Monday afternoon, though the tech-heavy Nasdaq pared most earlier losses to trade near the flat-line after 12 p.m. ET.

Shares of Chevron, Verizon and Dow Inc. led declines in the Dow Jones Industrial Average, which dropped 0.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} Monday afternoon. In the S&P 500, the energy, materials and utilities sectors lagged, and communication services was the only sector in the green.

The CBOE Volatility Index, or VIX, spiked more than 8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to top 31 for the highest level since March 15.

—

9:31 a.m. ET: Stocks open lower

Here’s where stocks were trading just after the opening bell Monday morning:

  • S&P 500 (^GSPC): -38.31 (-0.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,233.47

  • Dow (^DJI): -278.52 (-0.82{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 33,532.88

  • Nasdaq (^IXIC): -86.85 (-0.68{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 12,757.91

  • Crude (CL=F): -$5.32 (-5.21{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $96.75 a barrel

  • Gold (GC=F): -$31.40 (-1.62{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,902.90 per ounce

  • 10-year Treasury (^TNX): -9.8 bps to yield 2.808{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

—

7:13 a.m. ET: Coca-Cola tops 1Q expectations

Coca-Cola (KO) reported first-quarter sales and profit that topped Wall Street’s estimates, with broad growth across the beverage giant’s portfolio of brands helping lift results.

Adjusted operating revenue grew 16{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} over last year to reach $10.5 billion, topping consensus expectations for $9.8 billion, according to Bloomberg data. Company-wide unit case volume — a closely watched measure for Coca-Cola — rose 8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, with growth coming most prominently from the company’s nutrition, juice, dairy and plant-based beverages segment, where unit case volume increased 12{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. On the bottom line, comparable earnings per share reached 64 cents versus the 58 cents expected.

For the full year, Coca-Cola said it expects its to see commodity price inflation be in the mid-single digit percentages. It also expected the suspension of its business in Russia to generate a 1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} impact to full-year unit case volume, and a 1-2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} impact on net revenues and operating income.

—

7:06 a.m. ET: Stock futures decline, adding to last week’s losses

Here’s where stocks were trading Monday morning:

  • S&P 500 futures (ES=F): -36.25 (-0.85{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,231.00

  • Dow futures (YM=F): -270 (-0.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 33,458.00

  • Nasdaq futures (NQ=F): -106.75 (-0.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 13,246.75

  • Crude (CL=F): -$4.73 (-4.63{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $97.34

  • Gold (GC=F): -$23.10 (-1.19{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,911.20 per ounce

  • 10-year Treasury (^TNX): -6.9 bps to yield 2.837{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

NEW YORK, NEW YORK - MARCH 30: Traders work on the floor of the New York Stock Exchange on March 30, 2022 in New York City. U.S. stocks opened low after rallying to start the week. (Photo by Michael M. Santiago/Getty Images)

NEW YORK, NEW YORK – MARCH 30: Traders work on the floor of the New York Stock Exchange on March 30, 2022 in New York City. U.S. stocks opened low after rallying to start the week. (Photo by Michael M. Santiago/Getty Images)

—

Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter.

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn

Posted on

Stock futures recover some losses after S&P 500 tumbles into correction

Stock futures recover some losses after S&P 500 tumbles into correction

Stock futures opened larger Tuesday evening right after a steep offer-off in the course of the standard investing day, which pushed the S&P 500 and Dow to their cheapest settlements so significantly of 2022.

Contracts on the S&P 500 rose. The blue-chip index experienced shut lower by just above 1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} on Tuesday, bringing it a lot more than 10{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} from its record closing high from Jan. 3 — or beneath the threshold to have entered a correction. The Nasdaq and Dow each also finished in sharply in the crimson.

Hopes of a diplomatic resolution for tensions among Russia and Ukraine appeared to deteriorate on Tuesday, as President Joe Biden publicly identified as Russia’s go to deploy troops to separatist regions of Ukraine “the beginning of a Russian invasion” of the area. The U.S. also unleashed a initial tranche of sanctions on Russian financial establishments, sovereign financial debt and quite a few essential men and women in the nation. Late Tuesday, U.S. Secretary of Condition Antony Blinken also claimed he experienced named off a conference with his Russian counterpart, Overseas Minister Sergei Lavrov, that was meant to just take place this week.

Danger belongings slid on Tuesday as investors considered the fiscal marketplace implications of an escalating danger of military assault and larger sanctions on Russia. As European allies also coordinated their response to Russia’s increased armed forces existence in and all around Ukraine, Germany halted acceptance of the Nord Stream 2 natural fuel pipeline that would have deepened western Europe’s energy connection to Russia, the world’s largest normal gas exporter. Crude oil price ranges spiked to a 7-year higher, and Brent crude neared $100 for each barrel as traders contemplated the possible for additional electrical power-connected sanctions on Russia, the 3rd-major oil producer in the earth.

For U.S. buyers, the mounting geopolitical problems also more complicate the future move by the Federal Reserve, which has so considerably signaled it is prioritizing bringing down inflationary pressures. Even though buyers are currently pricing in an at minimum 25 basis stage desire rate hike from the Fed at its mid-March meeting, the tensions in between Russia and Ukraine — and prospective more price tag improves that an escalating conflict could stoke — generate a additional communication and policy complexity for the central bank.

“If the status quo retains, all we are likely to see is a extremely minimal effects on growth and inflation. Need to we see a full-fledged invasion adopted by considerably more durable sanctions, then we’re likely to be in a incredibly various world,” Joe Brusuelas, RSM chief economist, advised Yahoo Finance Live on Tuesday. “Our baseline is now anticipating a 20{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} maximize in the cost of oil. Now that is from two weeks in the past — we’re about 7{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the way there. If that happens, you may see 1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} shaved off growth this yr .. and you may see an addition 2.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} or thereabouts maximize in inflation.”

“The Federal Reserve and their worldwide central banking brethren are in a pretty tricky situation now,” he included. “They are likely to have to hike into what could be an power shock and a slowing world financial state. My sense is the Federal Reserve should to hike by 25 foundation factors at the March meeting, but they should to use the opportunity in equally the communique and the Summary of Economic Projections, to note the threats all around the evolving world surroundings.”

—

6:13 p.m. ET Tuesday: Inventory futures recuperate some losses

Below ended up the major moves in markets Tuesday evening:

  • S&P 500 futures (ES=F): +16.75 points (+.39{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,316.75

  • Dow futures (YM=F): +99 factors (+.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 33,624.00

  • Nasdaq futures (NQ=F): +75.5 points (+.54{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 13,938.25

Photo by: NDZ/STAR MAX/IPx 2022 2/17/22 Atmosphere at the NY Stock Exchange in New York City.

Image by: NDZ/STAR MAX/IPx 2022 2/17/22 Atmosphere at the NY Inventory Trade in New York Town.

—

Emily McCormick is a reporter for Yahoo Finance. Comply with her on Twitter

Go through the most current fiscal and enterprise news from Yahoo Finance

Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn

Posted on

3 Tips to Recover From a Financial Setback

3 Tips to Recover From a Financial Setback

Financial setbacks can happen to the best of us. Maybe you racked up debt that’s now leaving you with expensive monthly payments on your credit cards. Or maybe you had to deplete your savings account when an unexpected bill arose that couldn’t be put off.

These situations are often unavoidable, and they can be difficult to recover from. Here’s how to move forward following a financial setback and put yourself on a more positive path.

1. Figure out why it happened

In some cases, it’s easy to see why a financial setback occurred. If you got hurt or sick and racked up $15,000 in medical bills, that may have forced you to empty your bank account. That’s certainly not something you can be blamed for.

But sometimes, financial setbacks can occur through a series of more subtle events. Say you recently moved to a city a bunch of your friends live in, only they earn more money than you do. It could be that over the past number of months, you overspent in an effort to be social and keep up with their lifestyle, even though your income doesn’t support it. Now you could be sitting on an uncomfortably large credit card balance. You’ll need to work on adjusting your financial behavior in order to move forward.

To be clear, peer pressure is a tough thing to overcome, and you shouldn’t necessarily beat yourself up if that’s the reason for your setback. Rather, the key is to understand how you got to this place.

2. Put yourself on a budget

Whether you need to replenish your savings, dig out of debt, or boost your credit score following a massive hit, sticking to a budget is a good way to move forward from your financial setback. Take a look at your bank and credit card statements from the past six months to see what your various bills cost. Then, list them on a spreadsheet (or use a budgeting app) and compare them to your earnings.

Ideally, you should not be spending your entire paycheck month after month, especially if you’re trying to dig out of a financial hole. If that’s the case, you may need to rethink some expenses in an effort to cut back.

Learn more: The Complete Guide to Budgeting Methods

3. Boost your income with a side job

Chances are, an influx of money will help solve whatever financial setback you encountered. If you had to deplete your savings, an extra wave of cash could make your account whole again. If you’ve racked up debt, you’ll need funds to pay it off. And if your credit score took a hit, chances are, it’s because you were late with bills or started using too much of your available credit. And again, having more money could help ensure that you can pay your bills on time and chip away at your existing debt.

As for where that magic pile of money will come from, a good option is to get yourself a side hustle on top of your main job. These days, there are plenty of side gigs to choose from, so think about your personality and schedule to help you narrow down your options.

The sooner you move on from a financial setback, the better. These tips should help you stage your personal recovery, and they may also help alleviate a fair amount of stress to boot.

Posted on

Nasdaq Composite jumps 1.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in best day since August as tech stocks recover losses

Nasdaq Composite jumps 1.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in best day since August as tech stocks recover losses

Stocks advanced on Tuesday as technology stocks recouped some losses from Monday, when a rotation away from growth names picked up steam as concerns over inflation lingered. 

The Nasdaq Composite gained 1.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in its best day since August, after the index dropped over 2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} a day earlier. The S&P 500 and Dow also closed higher. 

Shares of technology heavyweight Facebook (FB) recovered and rose by 2.1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in its best day in five weeks. The stock had shed nearly 5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} at the start of the week, as an hours-long platform outage added to a string of negative coverage raising further scrutiny of the social media giant. 

Equity markets have faced a slew of concerns about the economy and policy landscapes heading into the final quarter of the year. Wall Street’s anxiety over the debt-limit debates in Washington increased further, with Democratic and Republican lawmakers still struggling to reach an agreement to raise the federal government borrowing limit and avert what some policymakers have warned would be economy-wide disaster as soon as mid-month.

Investors are also awaiting signals from individual companies over how they have navigated supply chain challenges, rising labor costs and other pandemic-related pressures over the past several months, with third-quarter earnings season due to begin in earnest next week. 

“The growth scare probably happened, and we’ve seen a better alignment of expectations for higher inflation and lower growth. But where earnings come into play … is that we’re still going to have pockets of really high price pressure that are going to make business hard for select areas,” Francis Donald, Manulife Global chief economist, told Yahoo Finance.

“We need to be watching the earnings season not necessarily because of its broad impact – of course that matters to the market — but because we really need to be in a stock-picker’s market where those who really understand these companies are seeing who’s going to get whacked by the supply chain issues, and who’s going to benefit from the underlying fundamentals that are improving going into 2022,” she added.

Despite the plethora of headline risks to the market, a number of strategists have warned against becoming too pessimistic just yet.

“I don’t see this as the big one, the big pullback, where we’re going to go down 20{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} and get into bearish territory,” D.R. Barton, Jr., principal at Woodshaw Financial Group, told Yahoo Finance Live about Monday’s equity decline. “We’re still awash in so much money – that overcomes so much other bad news, and I think that’s the one umbrella that’s still going to keep this market propped up for a while.”

Others offered a similar take.

“We think most of the dips here are buyable. I concur with the idea that the legs that the bull case stands on, which are accommodative policy, fiscal and monetary, plus just really strong corporate operators and a really strong consumer, are enough to outweigh the headline risks of a debt ceiling standoff or policy machinations,” Ross Mayfield, Baird Investment strategy analyst, told Yahoo Finance Live.

—

4:03 p.m. ET: Nasdaq Composite jumps 1.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in best day since August as tech stocks recover losses

Here were the main moves in markets as of 4:03 p.m. ET:

  • S&P 500 (^GSPC): +45.27 (+1.05{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,345.73

  • Dow (^DJI): +311.75 (+0.92{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 34,314.67

  • Nasdaq (^IXIC): +178.35 (+1.25{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 14,433.83

  • Crude (CL=F): +$1.56 (+2.01{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $79.18 a barrel

  • Gold (GC=F): -$7.20 (-0.41{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,760.40 per ounce

  • 10-year Treasury (^TNX): +4.8 bps to yield 1.5290{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

—

12:23 p.m. ET: Stocks extend gains, Dow adds 350+ points, or 1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

A rebound rally was under way Tuesday afternoon, with each of the three major stock indexes up more than 1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} shortly after noon in New York. The Nasdaq gained 1.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. 

The information technology and communication services sector outperformed in the S&P 500, marking a stark reversal from Monday’s session when these areas were the biggest laggards. Energy and real estate were the only sectors in negative territory during intraday trading. 

Goldman Sachs and Microsoft outperformed in the 30-stock Dow. Merck lagged to give back some gains after a four-session winning streak, which came on the heels of upbeat data from the drugmaker on its antiviral COVID-19 pill. 

—

10:06 a.m. ET: U.S. service sector expands more than expected in September: ISM

Activity in the U.S. services sector expanded at a faster rate than expected in September, aided by a boost in new orders during the month and still-solid labor market conditions. 

The Institute for Supply Management’s September Services Index came in at 61.9, rising from 61.7 in August. This came in above consensus estimates for a reading of 59.9, according to Bloomberg consensus data. Readings above the neutral level of 50.0 indicate expansion in a sector.

One of the biggest contributors to the estimates-topping print in September came from new orders and order backlogs, which both accelerated during the month. Price paid by firms for materials and services also increased, tracking a rise in inflation seen across the economy over the past several months. And while an index tracking employment trends held in expansionary territory, it moderated slightly compared to August. 

“The slight uptick in the rate of expansion in the month of September continued the current period of strong growth for the services sector,” Anthony Nieves, chair of the institute for Supply Management Services Business Survey Committee, said in a statement. “However, ongoing challenges with labor resources, logistics, and materials are affecting the continuity of supply.”

—

9:32 a.m. ET: Stocks open higher

Here’s where markets were trading just after the opening bell Tuesday morning:

  • S&P 500 (^GSPC): +19.51 points (+0.45{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,319.97

  • Dow (^DJI): +135.38 points (+0.4{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 34,138.30

  • Nasdaq (^IXIC): +81.11 points (+0.57{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 14,341.92

  • Crude (CL=F): +$1.05 (+1.35{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $78.67 a barrel

  • Gold (GC=F): -$14.70 (-0.83{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,752.90 per ounce

  • 10-year Treasury (^TNX): +2 bps to yield 1.501{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

—

7:35 a.m. ET: PepsiCo posts 3Q results that top estimates, raises full-year sales forecast

PepsiCo (PEP) delivered third-quarter results that exceeded Wall Street’s estimates, boosted by a rebound in the company’s key North American beverage businesses. Shares rose more than 1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} during the pre-market session. 

Net revenue grew 12{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} over last year to $20.2 billion, topping expectations for $19.4 billion, based on Bloomberg consensus data. PepsiCo’s Beverages North America business unit saw organic revenue, or sales excluding the impact of acquisitions and currency impacts, grow 7{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, accelerating from the previous year’s 3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} growth rate. 

“We are pleased with our results for the third quarter as we delivered very strong net revenue growth while carefully navigating a dynamic and volatile supply chain and cost environment,” PepsiCo CEO Ramon Laguarta said in a press statement. “Given our year-to-date performance, we now expect our full-year organic revenue to increase approximately 8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} and core constant currency earnings per share to increase at least 11{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.” 

Previously, PepsiCo saw organic revenue growth of 6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} for the full year. 

—

7:20 a.m. ET Tuesday: Stock futures hold onto overnight gains, tech stocks aim to recoup some losses

Here’s where markets were trading ahead of the opening bell Tuesday morning: 

  • S&P 500 futures (ES=F): +14.75 points (+0.34{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,306.00

  • Dow futures (YM=F): +123 points (+0.36{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 33,993.00

  • Nasdaq futures (NQ=F): +46.75 points (+0.32{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 14,509.00

  • Crude (CL=F): +$0.77 (+0.99{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $78.39 a barrel

  • Gold (GC=F): -$11.90 (-0.67{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,755.70 per ounce

  • 10-year Treasury (^TNX): +2 bps to yield 1.501{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

—

6:10 p.m. ET Monday: Stock futures steady after technology stock rout

Here’s where markets were trading ahead of the opening bell Monday evening: 

  • S&P 500 futures (ES=F): +2.5 points (+0.06{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,293.75

  • Dow futures (YM=F): +10 points (+0.03{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 33,880.00

  • Nasdaq futures (NQ=F): +20.75 points (+0.14{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 14,483.00

NEW YORK, NEW YORK - OCTOBER 04: Traders work on the floor of the New York Stock Exchange (NYSE) on October 04, 2021 in New York City. In afternoon trading the Dow was down over 300 points as investors continue to worry about inflation, supply chain issues, and a political stalemate over the debt ceiling between Republicans and Democrats in Washington, DC. (Photo by Spencer Platt/Getty Images)

NEW YORK, NEW YORK – OCTOBER 04: Traders work on the floor of the New York Stock Exchange (NYSE) on October 04, 2021 in New York City. In afternoon trading the Dow was down over 300 points as investors continue to worry about inflation, supply chain issues, and a political stalemate over the debt ceiling between Republicans and Democrats in Washington, DC. (Photo by Spencer Platt/Getty Images)

—

Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter