Market Snapshot: Futures point to further Wall Street gains as earnings season rolls on

U.S. stock futures pointed higher Tuesday, extending gains after the largest four-day stretch of gains since late July for both the S&P 500 and Nasdaq Composite.

What’s happening
  • Futures on the Dow Jones Industrial Average

    rose 73 points or 0.2%, to 35206

  • Futures on the S&P 500

    gained 13 points, or 0.3%, to 4490

  • Futures on the Nasdaq 100

    rose 36 points, or 0.2%, to 15327

On Monday, the Dow Jones Industrial Average

fell 36 points, or 0.1%, to 35259, while the S&P 500

increased 15 points, or 0.34%, to 4486, and the Nasdaq Composite

gained 124 points, or 0.84%, to 15022. The S&P 500 and Nasdaq Composite have each seen their best four-day winning stretch since July 23.

What’s driving markets

The positive backdrop comes as corporate earnings have largely overshadowed worries about supply chain disruptions.

According to Bank of America, through the first week, 66% of companies have beaten on both sales and earnings per share, which is well above the historical average of 47%.

Tuesday sees results from corporate titans including Procter & Gamble

and Johnson & Johnson
and after the close, streaming giant Netflix

Markets also will be eyeing the launch of the first bitcoin exchange-traded fund, and the flattening of the yield curve, as the spread between 5-

and 30-year

Treasury securities was the narrowest since early 2020.

Housing starts and a gaggle of Federal Reserve officials speaking highlights the day’s economics calendar.

This post was originally published on Market Watch

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