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US Stock Futures Climb as Earnings Season Goes Full Swing

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Futures

Futures for major American stock indices inched higher on Friday, as market players anticipate more earnings reports and guidance from the Federal Reserve.

Futures for the S&P 500, the Nasdaq 100, and the Dow Jones all posted slights gains, while the 10-year Treasury yields grew to 1.329% and continued to hover around five-month lows. Trading was mixed in overseas markets.

British luxury fashion house Burberry reported a rebound in sales on Friday, while investors await the release of earnings of financial firms such as State Street and Charles Schwab later in the session.

Investors are also digesting the comments of Federal Reserve Chair Jerome Powell in Congress after he said its bond-buying program and monetary policy continue to remain apt even as inflation may persist in the coming months.

Investors believe the decline in bond yields is part of a correction against the rising trend, which they assume would resume when the globe recovers from the COVID-19 pandemic.

Both Brent and West Texas Intermediate crude prices picked up after the decline in the previous days.

 

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