Opening Bell: Earnings, Fedspeak Boost Global Stocks; Yields, Dollar Decline
- Corporate earnings continue to meet or beat expectations
- Fed speakers calm concerns of aggressive tightening
- Bitcoin remains under pressure
Key Events
US futures on the , , and were mixed in trading on Wednesday, at time of writing, while global stocks were on track for the sharpest four-day advance since November 2020. Positive sentiment from corporates posting results that beat expectations, as well as Fed members talking down forecasts of aggressive monetary tightening, has resulted in dip buying driving equities in Europe and the US higher.
At time of writing, Brent crude is trading lower.
Global Financial Affairs
Approximately 80% of companies listed in the Index have now released their quarterly report cards, showing growth that’s +4.3% above consensus estimates. While the market narrative continues to focus on the good news, these results are well below the 16% average for the past four quarterly earnings releases. Still,…
