Stocks rise after UPS and ExxonMobil report
Stocks rise after UPS and Ex...
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Stocks rise after UPS and ExxonMobil report

1 February 2022
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2 min.
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Stocks rise after UPS and ExxonMobil report

US stock indices

All three major indices: Dow Jones, S&P 500 and Nasdaq rose at the premarket.

United Parcel Service shares rose after revenue of $27.7bn beat forecasts. UPS also increased its dividend by 49% to 0.50 cents per share.

ExxonMobil reported earnings of $2.05 per share, 11 cents above analysts' estimates. Revenue of $89 million also beat estimates. The oil giant announced Monday that it would move its headquarters from Irving, Texas, to Houston to cut costs and streamline business.

Movie theatre chain AMC presented preliminary reports for its quarter, noting that total revenue increased by $1.1 billion, up from $162.5 million in the same period a year ago. Cash or liquidity reached $1.8 billion, a year-end record.

In the afternoon, it is worth waiting for Google Alphabet to release its figures. Also, car maker General Motors, insurance company Chubb, coffee retailer Starbucks, digital payments pioneer PayPal and chipmaker Advanced Micro Devices, among others.

Cryptocurrencies have stabilised, with bitcoin hovering around $38,000.

However, Asian stocks rose on Tuesday, reflecting strong gains on Wall Street the day before, while trading in China and most other regional markets was closed due to the lunar New Year holiday.

Japan's benchmark Nikkei 225 index rose 0.3 per cent to 27,078.48 points. Australia's S&P/ASX 200 added 0.5% to 7,006.00.

The 10-year Treasury bond yield rose to 1.78% from 1.77% on Friday. The two-year yield, which depends more on expectations of what the Fed will do with short-term rates, rose to 1.18% from 1.15%.

In energy trading, US benchmark crude added 15 cents to $88.30 a barrel in electronic trading on the New York Mercantile Exchange. It rose $1.33 to $88.15 a barrel on Monday. Brent crude oil, the international benchmark, rose $1.18 to $91.21 a barrel.

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