Futures Jump After Trump Extends Iran Ceasefire; Tesla, Boeing, United Airlines in Spotlight
MarketDash
U.S. stock futures climbed Wednesday as President Donald Trump extended the Iran ceasefire, reversing earlier comments that had sent markets lower. Tesla earnings, Boeing results, and United Airlines' beat are all on deck.
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U.S. stock futures rose on Wednesday, bouncing back from Tuesday's losses after President Donald Trump extended the Iran ceasefire. The move reversed his earlier statement that there would be no extension, which had sent the Dow Jones down about 293 points on Tuesday.
Here's where the major futures stood early Wednesday:
Bond yields were relatively steady, with the 10-year Treasury at 4.286% and the two-year at 3.766%. According to the CME Group's FedWatch tool, markets are pricing a 99.5% likelihood that the Federal Reserve will leave interest rates unchanged at its April meeting.
Stocks In Focus
Tesla
All eyes are on Tesla Inc. (TSLA) as it prepares to report quarterly earnings after the closing bell. Wall Street expects earnings of $0.37 per share on revenue of $22.71 billion. Shares rose 0.87% to $389.77 in premarket trading. According to market data, Tesla maintains a strong long-term price trend, though its short- and medium-term trends are weaker.
Boeing
Boeing Co. (BA) is set to report before the open, with analysts expecting a loss of $0.84 per share on revenue of $21.92 billion. Shares gained 1.11% to $221.60 premarket. Boeing's price trend is strong across short, medium, and long terms.
United Airlines Holdings
United Airlines Holdings Inc. (UAL) reported better-than-expected first-quarter results, with adjusted earnings per share of $1.19 on revenue of $14.6 billion. Shares rose 1.70% to $98.78 in premarket trading. The stock shows strong price trends over the short and long terms.
AT&T
AT&T Inc. (T) is expected to post earnings of $0.55 per share on revenue of $31.23 billion before the bell. Shares edged up 0.55% to $26.04 premarket. AT&T's price trend is weak across short, medium, and long terms.
GE Vernova
GE Vernova Inc. (GEV) is expected to report earnings of $2.02 per share on revenue of $9.26 billion before the open. Shares gained 0.62% to $997.68 premarket. The stock maintains strong price trends across all time frames.
Cues From Last Session
Tuesday's session saw broad declines, with real estate, utilities, and industrials leading the losses. The energy sector was the only positive sector. Here's how the major indices closed:
Index
Performance (+/-)
Value
Dow Jones
-0.59%
49,149.38
S&P 500
-0.63%
7,064.01
Nasdaq Composite
-0.59%
24,259.97
Russell 2000
-1.00%
2,764.97
Insights From Analysts
Michelle Gibley, director of international equity research and strategy at the Schwab Center for Financial Research, warned that despite the last-minute extension of the Iran ceasefire, crude oil prices will take time to normalize.
"Physical delivery of oil and gas is constrained and isn't reflected in energy futures prices," Gibley said.
These issues reverberate around the world in terms of monetary policy as several major central banks, including the Federal Reserve, prepare to make rate decisions next week, Gibley added.
"Most global central banks are on hold for now, waiting for more clarity on the duration of energy supply disruptions and higher energy prices."
Upcoming Economic Data
On Thursday, the weekly Initial Jobless Claims report will be released at 8:30 a.m. ET.
On Friday, the University of Michigan's final Consumer Sentiment Index reading for April will be released at 10 a.m. ET.
The New York Fed Staff Nowcast is also due Friday.
Commodities, Crypto, And Global Equity Markets
Crude oil futures were trading lower in the early New York session, down 0.42% to around $89.29 per barrel.
Gold spot prices fell 0.92% to around $4,762.63 per ounce, well below its record high of $5,595.46. The U.S. Dollar Index was 0.07% lower at 98.33.
Meanwhile, Bitcoin (BTC) was trading 2.13% higher at $77,923.25 per coin over the last 24 hours.
Asian markets closed mixed on Wednesday. India's Nifty 50, Hong Kong's Hang Seng, and Australia's ASX 200 indices closed lower, while South Korea's Kospi and Japan's Nikkei 225 indices surged. European markets were mostly higher in early trade.
