US stocks open higher, General Motors jumps 8% after reports from

US stocks open higher, General Motors jumps 8% after reports from

© Reuters.

| News |

US stock markets opened trading higher on Tuesday, after data on the US released before the opening of trading indicated an easing of inflation. Investors are waiting for the Federal Reserve to be published tomorrow, and may be affected by the latest data.

As of 16:50 the index rises 0.1%, the index climbs 0.4% and is about to conclude its best January since 2019 and the index adds 0.6%.

The Federal Reserve today began its two-day monthly meeting, at the end of which it will publish the interest rate decision for the month of February. The Fed is expected to raise interest rates by 25 basis points, a small increase compared to previous interest rate hikes in the coming months. Fed Chairman Jerome Powell will hold a meeting tomorrow after the announcement of the decision and investors will be watching closely as they look for clues regarding the continuation of the monetary policy path.

Report season in the US is reaching its peak this week. To date, no less than 140 S&P 500 companies have published their fourth quarter results and today McDonald’s, Exxon Mobil (NYSE: ), Pfizer (NYSE: ) and General Motors are joining, among others.

Tomorrow, before the opening of trading, GSK (NYSE:), Pluton (NASDAQ:), and T-Mobile (NASDAQ:) reports will be published, and after the end, Meta Platforms (NASDAQ:) reports will be published.

On Thursday after trading, Apple (NASDAQ: ), Amazon (NASDAQ: ), Alphabet (NASDAQ: ) and Ford (NYSE: ) will report.

General Motors (NYSE: ) shares jump 8% in opening trade after the company released reports in which it beat analysts’ expectations for revenue and profit. On a profit of $2.12 per share in the fourth quarter and revenues of $43.11 billion. Against an expected profit of $1.68 per share and revenues of $40.04 per share.

Shares of McDonald’s (NYSE: ) are down 2% despite the company beating fourth-quarter earnings and revenue when it reported earnings of $2.59 per share and revenue of $5.93 billion. The company also noted that the company’s strategy now places greater emphasis on opening new restaurants.

The pharmaceutical company Pfizer also released reports before the opening of trading, beating the profit forecasts for the quarter in the revenue line. The company reported a profit of $1.14 per share and revenues of $24.3 billion against expectations for a profit of $1.07 per share and revenues of $24.61 billion. The stock is down 0.3%

Exxon Mobile also beat profit expectations but missed revenue estimates. The fourth company with earnings per share of $3.40 and revenue of $95.43 billion, while analysts at had expected earnings per share of $3.29 and revenue of $97.17 billion. The company’s stock rises 0.5%.

Among the Israeli stocks traded in New York, Inoviz shares (NASDAQ:) stand out at the opening of trading with an increase of 5.1%, Global-E (NASDAQ:) climbs 4% and Kornit Digital (NASDAQ:) adds 3.2%.

On the other hand, Alarmum (NASDAQ: ) (formerly Safe-T) falls 6%, StixPay (NYSE: ) loses 3.8% and Pagaya (NASDAQ: ) weakens 0.9%.


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent News

Editor's Pick