- Earnings season kicks off with Q3 results as Microsoft & Alphabet prepare to report
- Sotera Health gains 9% as the top gainer; currently at $6.97
- European markets are up as CAC added 1.94% to trade at 6,250.55.
With the trading session well underway, the leading indices are showing gains — Nasdaq goes up 1.8%, trading at 11,150. S&P 500 up 1.25%, trading at 3,844.73.
European markets are trending positively as CAC is up by 1.94%, hitting 6,250.55. Asia-Pacific session in progress; markets are rising as Nikkei climbs to 27,250 (up 1.02%).
Both stocks and bonds tracking well in the middle of the trading session; the iShares U.S. Treasury Bond ETF has gone up 0.81% to trade at $22.36, thereby indicating that government bond yields were downbeat across the yield curve.
Earnings season has just started and most of the companies in the S&P 500 reporting Q3 results have beaten Wall Street estimates, with Lockheed Martin & PPG Industries Inc featured this past week. Looking forward, investors are expecting earnings results for Microsoft & Alphabet imminently.
On a negative note, the market received some disappointing news as highly important Consumer Confidence data from United States beat analyst expectations of 106.5 with a reading of 102.5.
Today's rise takes place amid mixed market indicators — United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Aug) released today at 13:00 UTC with a figure of 13.1, while the previous figure was 16. United States Services PMI came out at 46.6, while a consensus of analysts was expecting 49.2.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States GDP is projected to outperform its last figure with 2.4, having previously been at -0.6. The figure will be published Thursday. United States Crude Oil Inventories is projected to outperform its last figure with 200,000. It previously stood at -1.73 million; data will be released tomorrow at 14:30 UTC.
Also worthy of note, Thursday data for United States Core Durable Goods Orders will be released, with an expected decline to 0.2% from the preceding figure of 0.3%.
While indices are generally bullish today, some individual stock performances stood out as Sotera Health trades at $6.97 having gained 9%. Playtika (up 6.2%) is also performing well.
Muted session so far for Outbrain as it oscillates around $4.23
Today's session so far looks to be heading in a similar way — Outbrain gaining 2.92% and hovering around the $4.23 level. Outbrain's market cap is currently $235.78 million with an average daily trading volume of 258,491 shares.
Playtika skyrockets to $9.97 up 6.2%
After closing yesterday at $9.39, Playtika went up to $10.22 only to drop back some of the way, and is now trading at $9.97. Playtika is currently trading with a market cap of $3.60 billion with an average daily volume of 2.32 million shares. So far in 2022, it has been under-performing the Nasdaq by 3.53%.