Skip to main content

Nasdaq 100 futures edge a little higher but Tesla results await this evening

Yesterday the Nasdaq 100 rebounded to above 17,300 (17,305 the high), but it could not hold all of its session gains into the close. The index ended the day at 17,210, with a gain of 173 points on the session (+1.02%). That compared to a 0.87% rise for the S+P 500 and 0.67% for the Dow Jones. The index futures are battling to price a higher opening for later today, but so far it has been rather a struggle. The one thing the index is wary of later on, after the US closing bell is the Q1 results from Tesla. The share price on this one has been hammered lately and for a number of reasons mentioned here before and the markets are braced for a poor Q1 earnings report this evening. That is due to be released at 8.05pm GMT. The markets anticipate Q1 earnings of $22.15 billion and an EPS of just $0.15 per share. The real question is how much of that is priced into the markets after the recent slide in the share price and how much is not, if the numbers really disappoint. At the same time, a positive surprise in that Q1 report could have a significant impact on the share price and the Nasdaq 100 too. It is worth noting that Tesla is currently ranked no.10 in the Nasdaq 100 by market weight. The index futures is just now priced to reopen at around 17,240
 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!