Wall Street is holding the bar high for corporate America, relatively unimpressed by the latest round of corporate earnings.
A tumble in shares of IBM (IBM) pushed the Dow Industrials down 83 points yesterday to 13032.75. Big Blue's 3.5% slide accounted for more than two-thirds of the Dow's final drop.
IBM's lackluster first-quarter report made some investors question if the year's tech boom will turn bust. Even Apple (AAPL) shares fell modestly yesterday.
Futures early Thursday morning are pointing to a higher open, with the Dow indicating a gain of 75 points.
American Express (AXP) posted stronger-than-expected numbers for its first quarter after Wednesday's closing bell. Profits grew 7% to just over $1 billion, and revenue grew to $7.6 billion. Both measures topped Wall Street expectations.
AmEx also said its cardholders spent more money on their credit cards in the beginning of the year -- a positive sign for the overall health of the U.S. economy as consumer spending accounts for 70% of GDP. American Express also said cardholder defaults were down in the quarter.
If you want to buy a car that's still worth something five years from now, consider this: Edmunds.com is out with its winners for the brands with the best retained value. Honda took top honors in the mainstream segment with an average retained value of 47.9% after five years; the Acura won in the luxury car segment with an average retained value of 44.6%; and the Honda Civic surprisingly beat out the Toyota Prius in the hybrid market. Several Ford (F) cars got high marks, too.
Lauren Simonetti joined FOX Business Network (FBN) in September 2007 as a field producer and became a reporter for the network in September 2011.