- Alphabet and Tesla stand ready to kick off Q3 earnings season
- Yesterday's star of the day Chegg appreciates 8.69% while outperforming its peers
- CAC rallies by 1.83%, reaching 6,040.66.
An update of where yesterday closed ahead of the next session: leading equity indices in the US rose as S&P 500 ended the session at 3,678 after a 2.65% gain. Nasdaq gained 3.43% and closed at 10,676.
US markets are set to open today in around 6 hours. In the meantime, European markets closed higher yesterday whilst CAC rallies to 6,040.66 (up 1.83%). Upbeat Asia-Pacific markets ended today higher as ASX 200 rallies to 6,779.2 (up 1.72%).
Though earnings season has just begun, most of the companies in the S&P 500 reporting Q3 results passed Wall Street estimates. UnitedHealth and TSM are featured this past week; Alphabet and Tesla results are expected soon.
Today's rise takes place amid mixed market indicators — United States NY Empire State Manufacturing Index (Oct) released yesterday at 12:30 UTC with a figure of -9.1, while the previous figure was -1.5.
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.
Furthermore, the market is looking at United States Philadelphia Fed Manufacturing Index (Oct) is scheduled for Thursday. United States Existing Home Sales (Sep) is expected 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 gains 4.62%; sets session high of $53.41
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 has a market cap of $9.37 billion with an average daily trading 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
Chegg topped out at $21.78 having ended yesterday at $21.76. However, despite early momentum, the stock gave up its gains to now trade at $21.76. The company's market cap is $2.75 billion with an average daily volume of 1.41 million shares. So far in 2022 it has been beating the Nasdaq by 18.1%.