Stock indices finished today’s trading session on a mixed note, with the Nasdaq 100 (NDX) and the S&P 500 (SPX) posting gains of 0.32% and 0.02%, respectively, while the Dow Jones Industrial Average (DJIA) fell by 0.11%. The Mortgage Bankers Association reported an increase in the U.S. 30-Year mortgage rate to 7.24%, attributed to rising bond yields. This led to a 2.7% decrease in mortgage applications week-over-week.
In other economic news, the Census Bureau released the U.S. Core Durable Goods Orders report for March, showing a 0.2% increase in core orders, slightly below expectations. However, including aircraft orders, growth was 2.6%, beating expectations.
On the corporate front, U.S. futures edged higher on Wednesday morning, buoyed by strong earnings reports from companies like General Motors and Texas Instruments. Despite a drop in earnings, Tesla’s stock surged after-hours as it plans to accelerate the launch of more affordable models.
Looking ahead, Boeing, AT&T, Thermo Fisher, and Hasbro are set to release their quarterly financials before the market opens, while Meta Platforms, IBM, and Chipotle will report after the market closes.
Overall, the market sentiment remains positive, with U.S. indices trending higher and European markets opening on a positive note. In Asia-Pacific, indices ended higher, with Japan’s Nikkei and China’s Shanghai Composite posting significant gains. Investors are optimistic about the global economic outlook, with inflation in Australia slowing for the fifth consecutive quarter.
