US stock index futures rise as companies report

US, WASHINGTON (ORDO NEWS) — Futures on major US stock indexes are rising on Tuesday amid the publication of financial statements of major US companies, according to trading data.

As of 15.24 UTC, futures for the Dow Jones industrial index (DJIA) grew by 1.57% to 24375 points, for the index of high-tech companies NASDAQ – by 1.04%, up to 8916 points, for the index of the wide market S&P 500 – by 1, 34%, to 2906.88 points.

Investors evaluate the financial results of the largest US companies for the first quarter of this year. Despite the fact that many companies reported a decrease in net profit, the overall situation was better than expected.

For example, the net profit of the pharmaceutical company Pfizer Inc. in the first quarter of 2020 decreased by 12% in annual terms and amounted to 3.401 billion dollars. The company’s revenue for the reporting period decreased by 8% and amounted to 12.028 billion dollars. At the same time, analysts were expecting revenue of $ 11.34 billion.

Net profit of American PepsiCo Inc. in the first quarter of 2020 decreased by 5.3% compared to the same period last year – to 1.388 billion dollars. Adjusted earnings per share exceeded expert expectations and amounted to $ 1.07. Experts forecast a figure of $ 1.03 per share.

In addition, investors are expecting a meeting of the US Federal Reserve System (FRS), which will be held on Wednesday this week. According to CME Group, 100% of analysts expect rates to remain at 0-0.25% per annum.

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