- Earnings season kicks off with Q3 results as Alphabet & Tesla prepare to report
- Yesterday's star of the day Chegg appreciates 8.69% while outperforming its peers
- European session in progress; markets are rising as DAX added 1.7% to trade at 12,649.
Yesterday's trading session saw to it that markets closed higher yesterday; S&P 500 gained 2.65% and closed at 3,678. Nasdaq closed the day at 10,676, having gained 3.43%.
Trading in the US will continue today in around 6 hours time, meanwhile European markets are trending positively as DAX added 1.7% to trade at 12,649. Upbeat Asia-Pacific markets ended today higher as ASX 200 is up by 1.72%, hitting 6,779.2.
Earnings season has just started and most of the companies in the S&P 500 reporting Q3 results have beaten Wall Street estimates, with UnitedHealth and TSM featured this past week. Looking forward, investors are expecting earnings results for Alphabet & Tesla imminently.
Today's rise takes place amid mixed market indicators — United States NY Empire State Manufacturing Index (Oct) came out at -9.1, while a consensus of analysts was expecting -4.
Also worthy of note, tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 1.55 million from the preceding figure of 9.88 million.
The market is looking forward to the release of new data: United States Philadelphia Fed Manufacturing Index (Oct) is expected Thursday. United States Existing Home Sales (Sep) scheduled to come out Thursday.
While most stocks did well yesterday, some did better than others as Chegg trades at $21.76 having gained 8.69%. Rexford Industrial (up 4.62%) and American Homes 4 Rent (up 3.6%) also performed well yesterday.
Rexford Industrial ended yesterday at $52.97, a 4.62% increase
After ending Friday's session at $50.63, Rexford Industrial Realty, Inc. went up to $53.41 yesterday only to fall back and close at $52.97. The company's market cap is $9.37 billion with an average daily volume of 1.41 million shares.
Rexford Industrial is scheduled to announce earnings results tomorrow. The consensus EPS estimate is 0.2209 and the consensus revenue estimate is $159.78 million.
Bullish mood lifts Chegg to session high of $21.78
After closing Friday at $20, Chegg closed at $21.76 yesterday after climbing to $21.78 and dropping back down. The company has a market cap of $2.75 billion with an average daily trading volume of 1.41 million shares. So far in 2022, it has been outperforming the Nasdaq by 18.1%.