From the Wall Street Journal’s “Stock Futures Fall Ahead of Earnings, Jobless Data” posted early Thursday:
U.S. stock indexes were poised for muted opening losses as investors awaited another batch of earnings reports and data on the labor market.
Stocks have risen in recent days, after solid earnings helping quell concerns that sent markets lower at the start of fall. Among those worries: A slowdown in China’s economy, supply-chain blockages that have hampered sectors such as manufacturing and inflation pressures that could prompt central banks to withdraw stimulus.
Of the 80 companies on the S&P 500 to have reported through Wednesday, 81% had topped analysts’ earnings forecasts, according to FactSet, better than three-quarters that did so each quarter in 2019.
“We’ve gone through a period of hesitation that’s brought a bit of volatility but I think stocks will keep trending higher,” said Paul Jackson, head of asset allocation research at Invesco. He expects households to keep spending savings accumulated during the pandemic.