Amid the ongoing earnings season, 84.6 percent of the S&P 500 companies that have reported calendar first-quarter earnings have topped analyst expectations, according to FactSet.
div > div.group > p:first-child"> Futures pointed to a gain for the Nikkei 225 in Japan at the open. The futures contract in Chicago was at 22,280, as compared to the benchmark index's last close at 22,277.97.
Ahead of the release of Australian labor force data at 9:30 a.m. HK/SIN, the Australian dollar traded at $0.7176 after bouncing to highs around $0.72 in the previous session on the back of better than expected Chinese GDP figures. "Although a stronger than expected Australian labour market result will push AUD higher, participants may be still positioned to sell AUD into rallies because of the medium‑term risk of RBA rate cuts," Grace said.
This was a highly anticipated earnings season as analysts polled by FactSet expected corporate earnings to have fallen by 4.2 percent in the first quarter.
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