Wall Street inched modestly higher early today, the Associated Press reports, ahead of more corporate earnings reports. Futures for the S&P 500 and the Dow Jones Industrial Average ticked up close to 0.2% before the opening bell.
Shake Shack jumped more than 12% before the bell after the burger chain posted strong fourth-quarter sales and profit.
Wendy’s dipped 1.6% after it missed Wall Street’s sales and profit forecast and issued lukewarm guidance.
Tesla shares were on track for another day of gains after CEO Elon Musk disclosed that he upped his stake in the electric car maker to 20.5%.
Most companies in the S&P 500 have been topping analysts’ forecasts for the last three months of 2023. Hopes for stronger growth in 2024 from a solid economy have been another reason the S&P 500 has set 10 records already this year.
In other trading today, U.S. benchmark crude oil fell 55 cents to $76.09 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, lost 53 cents, to $81.07 per barrel.
The U.S. dollar slipped to 150.02 Japanese yen from 150.46 yen.
