Here are the top stories to read ahead of Wednesday trading:
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Stocks making notable moves in Wednesday’s premarket action include:
Indicators of investor anxiety continued to show easing tensions across markets early Wednesday.
The CBOE VIX index, a gauge of expected S&P 500 volatility known as Wall Street’s fear gauge, fell 17% to 22.95. The VIX had spiked above 60 at one point on Monday when stock markets lurched lower.
Similarly, traders are moving out of perceived havens such as the 2-year Treasury, pushing yields higher. The 2-year yield at one point on Monday dropped to 3.67% and is now back above 4%.
Here are some of the companies presenting earnings on Wednesday:
Before the opening bell.
Walt Disney
Shopify
CVS Health
Global Payments
Emerson Electric
Lyft
After the close.
Occidental Petroleum
Robinhood Markets
Magnite
Dutch Bros
How are stock-index futures trading:
S&P 500 futures are adding 1%.
Dow Jones Industrial Average futures are up 0.7%.
Nasdaq 100 futures are gaining 1.2%.
On Tuesday, the Dow Jones Industrial Average rose 294 points, or 0.76%, to 38,998, the S&P 500 increased 54 points, or 1.04%, to 5,240, and the Nasdaq Composite gained 167 points, or 1.03%, to 16,367.
The rebound from Monday’s sharp stock-market sell-off continued early Wednesday, with futures indicating good gains at the opening bell on Wall Street.
Increased risk appetite can be seen in a move out of perceived havens such as U.S. Treasurys, pushing yields higher.
One cause of the recent retreat in stocks was fears that a swift unwinding of the yen carry trade as the Japanese currency strengthened would cause a forced liquidation of positions in erstwhile popular trades such as being long big U.S. tech.
But the yen has weakened sharply on Wednesday after a verbal intervention by officials in Japan. The USDJPY cross fell to around 141.5 on Monday, but on Wednesday is back up to 147.5.
“The Bear that chased markets off a cliff in recent days is taking a well-earned break, but time will tell if its just hibernating,” said Derren Nathan, head of equity research at Hargreaves Lansdown.
“The Bank of Japan’s deputy governor, Shinichi Uchida seems to have ended the Bear’s party, at least for now, with comments that Japanese rates won’t be hiked again while market instability continues,’ he added.
