First-quarter overall earnings per share for S&P 500 companies are expected to jump 35 per cent from a year earlier, which would be the biggest surge since the fourth quarter of 2010, according to Refinitiv IBES data. — AFP picNEW YORK, April 28 ― Tepid results from Tesla and 3M weighed on Wall Street yesterday, with the S&P 500 and Dow ending near flat as investors focused on wave of earnings reports from Microsoft, Alphabet and other corporate heavyweights.
Shares of Apple Inc, Facebook Inc and Amazon.com Inc, slated to report later this week, were mixed for much of the trading session. First-quarter overall earnings per share for S&P 500 companies are expected to jump 35 per cent from a year earlier, which would be the biggest surge since the fourth quarter of 2010, according to Refinitiv IBES data.
Investors will monitor the Federal Reserve's two-day meeting for cues on the central bank's thinking on inflation, bond buying and risks to the financial system posed by soaring asset prices. The Fed is not expected to change its policy guidance at the end of the meeting on Wednesday.
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