U.S. stock index futures are trading lower Tuesday as the latest batch of company earnings are generally meeting or beating estimates, but giving downbeat outlooks that feed into investor worries of a looming recession.On Monday, the Dow Jones Industrial Average DJIA, +0.76% rose 254 points, or 0.76%, to 33630, the S&P 500 SPX, +1.19% increased 47 points, or 1.19%, to 4020, and the Nasdaq Composite COMP, +2.01% gained 224 points, or 2.01%, to 11364. The Nasdaq is up 8.
The fourth quarter earnings come with cross currents at play. The S&P 500 index is up 3.1% over the last two sessions, taking its gain for the year so far to 4.7%, as investors show conviction the Federal Reserve is going to further slow its pace of interest rate rises amid easing inflation and weakening economic indicators.
But the fear is that a hard landing recession is still coming, as much as investors hope against it. Fourth quarter earnings and forward guidance are a way to read the tea leaves on what could be ahead.
What is NOT being reported are the massive big corporate liberal CEOs laying off large %s of their workforces.
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