Stock Futures Gain on Earnings, Stimulus Hopes | Sidnaz Blog

U.S. stock futures edged up Wednesday, suggesting the major indexes will extend their rally as investors cheer corporate earnings and the prospect for more fiscal stimulus.

S&P 500 futures gained 0.4%. The contracts don’t necessarily predict market moves after the opening bell.

Contracts on the Nasdaq-100 rose 0.8%, suggesting that technology stocks will lead gains, bolstered by earnings reports late Tuesday from

Amazon.com


AMZN 1.11%

and Google parent Alphabet.

Overseas, European stocks advanced for a three-session winning streak. The Stoxx Europe 600 rose 1% in morning trade with the industrials and energy sectors leading gains.

Airbus

jumped 2.4% for a two-day run of gains and

Repsol

added 2.2%.

The FTSE 100 climbed 0.7%.

The Swiss franc slipped 0.2% against the U.S. dollar, with 1 franc buying $1.11. Meanwhile, the euro and the British pound were broadly flat against the U.S. dollar.

In commodities, international benchmark Brent crude gained 1% to $58.03 a barrel. The gauge is near its highest since the coronavirus pandemic rattled markets last spring. Gold also strengthened 0.2% to $1,836.80 a troy ounce.

The yield on German 10-year bunds strengthened to minus 0.464% from minus 0.487% and the yield on U.K. 10-year gilts was up to 0.375% from 0.353%. The yield on 10-year U.S. Treasury rose to 1.119% from 1.101%. Yields move inversely to bond prices.

Stocks in Asia were mixed as Japan’s Nikkei 225 index added 1%, whereas Hong Kong’s Hang Seng edged up 0.2% and China’s benchmark Shanghai Composite declined 0.5%.

Alphabet shares jumped in offhours trading after Google posted record revenue for the fourth quarter.



Photo:

robyn beck/Agence France-Presse/Getty Images

–An artificial-intelligence tool was used in creating this article.

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