Quotes of futures for US stock indices are rising on Tuesday, investors are waiting for the results of the November meeting of the US Federal Reserve System (FRS) and evaluate corporate reporting.
The Fed meeting will end on Wednesday evening. As expected, following its results, the key interest rate will be raised again by 75 basis points, up to 3.75-4% per annum. The main attention of market participants will be focused on statements by Fed Chairman Jerome Powell regarding the further pace of policy tightening, writes The Wall Street Journal.
Since March, the US Central Bank has already increased the rate by 3 percentage points, the highest rate since the early 1980s, to slow inflation.
The Institute for Supply Management (ISM) will release the October value of the US ISM Manufacturing Index at 5:00 p.m. Thursday. Analysts polled by Trading Economics predict that the indicator fell to 50 points from September’s 50.9 points.
The price of Pfizer Inc. (SPB: PFE) increases by 3.5%. The pharmaceutical giant posted a 5.7% increase in third-quarter net income, with better-than-expected adjusted figures and revenue.
Another pharmaceutical company, Eli Lilly and Co. (SPB: LLY), downgraded its full-year guidance, sending shares down 3.3% despite strong quarterly performance.
Shares in medical device maker Abiomed (SPB: ABMD) soared 51% in pre-trade on news that Johnson & Johnson (SPB: JNJ) (J&J) is acquiring the company for $16.6 billion.
The market value of Uber Technologies (SPB: UBER) jumped 12%. The taxi and food delivery company posted a loss in the third quarter of 2022, but its revenue increased more than expected, and its forecast for the current quarter was also better than analysts’ estimates.
Herbalife Nutrition Ltd stock quotes. decrease by 1%. The supplement maker withdrew its full-year guidance, reporting a decline in net income and revenue in the third quarter of 2022, and also announced the departure of the chief executive officer.
Paper Goodyear Tire & Rubber Co. (SPB: GT) become cheaper by 8%. The tire maker cut its net income by a factor of three in the quarter, with adjusted earnings and revenue falling short of analysts’ forecasts.
The value of the December E-mini futures on the Dow Jones index by 15:26 qoq increased by 0.7% and amounted to 33,005 points. Quotation of the December E-mini futures on the S&P 500 rose by this time by 1.06%, to 3924.25 points. Futures on the Nasdaq 100 for December jumped 1.35% to 11,602.25 points.
