ANL 31.50 Increased By ▲ 0.15 (0.48%)
ASC 20.92 Increased By ▲ 0.02 (0.1%)
ASL 23.92 Increased By ▲ 0.02 (0.08%)
BOP 8.38 Decreased By ▼ -0.03 (-0.36%)
BYCO 10.07 Increased By ▲ 0.03 (0.3%)
FCCL 22.36 Increased By ▲ 0.16 (0.72%)
FFBL 27.69 Increased By ▲ 0.25 (0.91%)
FFL 20.80 Increased By ▲ 0.01 (0.05%)
FNEL 8.86 Increased By ▲ 0.01 (0.11%)
GGGL 27.80 Increased By ▲ 0.35 (1.28%)
GGL 47.00 Decreased By ▼ -0.10 (-0.21%)
HUMNL 7.32 Decreased By ▼ -0.08 (-1.08%)
JSCL 22.44 Decreased By ▼ -0.06 (-0.27%)
KAPCO 39.50 Decreased By ▼ -0.30 (-0.75%)
KEL 3.90 Decreased By ▼ -0.02 (-0.51%)
MDTL 3.69 Decreased By ▼ -0.04 (-1.07%)
MLCF 44.57 Increased By ▲ 0.30 (0.68%)
NETSOL 167.19 Increased By ▲ 1.24 (0.75%)
PACE 7.80 Increased By ▲ 0.13 (1.69%)
PAEL 34.00 Decreased By ▼ -0.01 (-0.03%)
PIBTL 11.17 Decreased By ▼ -0.08 (-0.71%)
POWER 9.30 Increased By ▲ 0.10 (1.09%)
PRL 23.80 No Change ▼ 0.00 (0%)
PTC 11.70 Decreased By ▼ -0.03 (-0.26%)
SILK 1.82 No Change ▼ 0.00 (0%)
SNGP 50.94 Increased By ▲ 1.34 (2.7%)
TELE 15.46 Increased By ▲ 0.40 (2.66%)
TRG 166.77 Increased By ▲ 0.57 (0.34%)
UNITY 42.44 Decreased By ▼ -0.53 (-1.23%)
WTL 3.68 Decreased By ▼ -0.06 (-1.6%)
BR100 5,177 Increased By ▲ 9.64 (0.19%)
BR30 26,557 Increased By ▲ 68.41 (0.26%)
KSE100 47,753 Increased By ▲ 65.54 (0.14%)
KSE30 19,147 Increased By ▲ 17.38 (0.09%)

Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
23,133
4424hr
Pakistan Cases
1,015,827
4,11924hr
7.88% positivity
Sindh
371,762
Punjab
354,312
Balochistan
29,861
Islamabad
86,226
KPK
142,400
Markets

Wall St set to start month on firm footing; economic data in focus

  • ISM manufacturing PMI expected at 10 a.m. EDT.
  • Moderna rises on vaccine supply deal with COVAX.
  • Estee Lauder falls as Q3 revenue misses estimates.
  • Futures up: Dow 0.54%, S&P 0.49%, Nasdaq 0.36%.
03 May 2021

Wall Street's main indexes were set to rise on Monday after a week of largely upbeat earnings strengthened expectations of sustained profit growth for companies, with investors awaiting data to gauge the pace of the country's economic recovery.

With more than half of S&P 500 companies having already reported results so far, profits are seen rising 46% in the first quarter, compared with forecasts of 24% growth at the start of April, according to IBES data from Refinitiv.

Megacap technology stocks rose in premarket trading, with Apple Inc, Amazon.com Inc, Alphabet Inc , and Microsoft Corp adding between 0.2% and 0.7% after posting largely upbeat results in the prior week.

Improving economic data, strong earnings, fiscal stimulus and the Federal Reserve's ultra accommodative stance have supported markets, pushing the S&P 500 and the Nasdaq indexes to record levels last week.

"Earnings so far have been substantially better than projections. People and institutions are feeling positive about the market right now even though we're close to all-time highs," said Mark Grant, chief global market strategist at B. Riley FBR in Fort Lauderdale, Florida.

Data on Monday is expected to show a slight rise in national factory activity, while a reading of the Labor Department's non-farm payrolls data is slated to be released on Friday.

At 8:36 a.m. ET, Dow e-minis were up 181 points, or 0.54%, S&P 500 e-minis were up 20.25 points, or 0.49%, and Nasdaq 100 e-minis were up 50 points, or 0.36%.

Tesla Inc fell 0.7%. Industry sources told Reuters the electric-vehicle maker, under scrutiny in China over safety and customer service complaints, is boosting its engagement with mainland regulators and beefing up its government relations team.

Moderna Inc gained 3.5% after the drugmaker said it will supply 34 million doses of its COVID-19 vaccine this year to the global COVAX program.

Estee Lauder Companies Inc slid 4.1% after missing analysts' estimates for third-quarter sales, hurt by weak demand for the cosmetics maker's premium makeup products as people continued working from home.