Wall Street pointed higher in premarket trading today as bond markets stabilized and more corporate earnings trickled in, the Associated Press reports. Futures for the S&P 500 and the Dow Jones Industrial Average rose 0.2% before the bell.
Alaska Air took a $162 million hit in its most recent quarter after it grounded its entire Boeing 737 Max fleet, but it projected better-than-expected profits the current quarter.
Boeing has provided the airline with $162 million in compensation so far, and it said today that it would have turned an adjusted profit of about $5 million if it did not ground its Max jets.
Credit reporting company Equifax slid 9.5% after it reported sales that narrowly missed Wall Street first quarter sales targets.
Bond markets have stabilized since Tuesday, when Treasury yields climbed on rising expectations that interest rates may stay high for a while. The yield on the two-year Treasury held at Wednesday’s level of 4.94%. The yield on the 10-year also came down modestly, to 4.58% from 4.59% on Wednesday.
In oil trading, U.S. benchmark crude shed 36 cents to $82.33 per barrel. Brent crude, the international standard, gave up 44 cents to $86.85 per barrel.
The U.S. dollar rose to 154.40 Japanese yen from 154.38 yen.
