The stock futures indicated a higher start to the day, and corporate earnings reports showed another open-ended day with Caterpillar and Boeing standing in front of the bell.
The futures on the S & P 500 (ES = F) rose 0.02% or 0.5 points from 8:24 ET. The Dow Futures (YM = F) increased by 0.17% or 46 points, while the Nasdaq Futures (NQ = F) increased by 0.05% or 4.25 points.
Both the S & P 500 and the Nasdaq hit record highs on Tuesday, while the Dow futures (YM = F) hit record highs Dow was hot on the heels of within 1% of a record high of all time, after consumer and peer results Technology providers such as Coca-Cola (KO) and Twitter (TWTR) were above expectations.
Wednesday morning, Dow results The components Boeing and Caterpillar had acquired rose to center days. After reporting, progress was made in the earlier development of Dow futures. After the closing bell, tech names such as Microsoft (MSFT), Facebook (FB), PayPay (PYPL) and Tesla (TSLA) report on results.
Boeing (BA) missed consensus estimates for the quarterly results Wednesday morning and said it would stop issuing new guidelines. Adjusted earnings per share for the quarter were $ 3.16 for the quarter, with consensus estimates of 9 cents missing, and $ 22.9 billion for revenue. This is the result of two fatal crashes on the company's 737 Max-8 aircraft, which spurred individual airlines and governments around the world to ground the aircraft as ongoing investigations into the causes of the crashes occurred.
The Chicago, Illinois-based company announced Wednesday that the previously published forecast for 2019 "does not reflect the impact of 737 Max". In January, Boeing issued a forecast that Boeing would expect revenue of between $ 109.5 and $ 111.5 billion for the full year 2019 and core earnings per share of between $ 19.90 and $ 20.10 per share.
The stock fluctuated in early trading before plunging nearly 2% as investors viewed solid results in the tightly watched Defense, Space and Security business, which rose 2% in the first quarter. Boeing shares rose 16% this year to Tuesday.
Meanwhile, industrial group Caterpillar (CAT) on Wednesday increased its earnings outlook for 2019 due to a tax benefit in the first quarter between $ 12.06 and $ 13.06. The company previously posted earnings for the full fiscal year of between $ 11.75 and $ 12.75 per share.
Caterpillar's diluted earnings per share in the first quarter exceeded consensus estimates, to $ 2.94 (versus $ 2.86). Quarterly revenue of $ 13.5 billion exceeded expectations of $ 13.4 billion, up 5% from a year ago. Caterpillar said the increase was "mainly due to higher sales volumes driven by improved demand for equipment and services," led by an 18% increase in its raw materials industry, which also includes the mining business Last year growth grew by 4.7%. Caterpillar pointed out, however, that profits were limited due to labor cost pressures, freight costs and "material costs including tariffs." From the beginning of the year to Tuesday, worse than the Dow Jones Industrial Average.
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