Stocks – U.S. Futures Rally Ahead of Earnings

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Stocks - U.S. Futures Rally Ahead of Earnings

Binary-news – U.S. futures pointed to a higher open on Thursday as stocks looked set to rebound from Wednesday’s tumble.

The S&P 500 futures rose 21 points or 0.82% to 2,686.0 as of 6:52 AM ET (10:52 GMT) while Dow futures were up 177 points, or 0.72%, to 24,793.0. Meanwhile tech heavy Nasdaq 100 futures increased 98 points, or 1.44%, to 6,934.50.

Stocks plummeted on Wednesday after some disappointing corporate earnings and a pullback from tech shares.

Earnings news will be busy, with at least 66 S&P 500 companies and two Dow components reporting. Alphabet (NASDAQ:GOOGL), Amazon (NASDAQ:AMZN), Twitter Inc (NYSE:TWTR), and Snap Inc (NYSE:SNAP) are among the major companies expected to publish their latest financial earnings.

Tesla (NASDAQ:TSLA) was among the top gainers in premarket trading, surging 8.34% after it reported a net profit in the third quarter. Microsoft (NASDAQ:MSFT) gained 3.61% while Chinese e-commerce giant Alibaba (NYSE:BABA) rose 1.58% and Intel (NASDAQ:INTC) increased 2.33%. Netflix (NASDAQ:NFLX) was up 2.09% and Logitech International SA (NASDAQ:LOGI) jumped 5.31%.

Elsewhere Anheuser Busch Inbev (BR:ABI) NV ADR (NYSE:BUD) slumped 9.48% after it cut its dividend payout in half and Advanced Micro Devices Inc (NASDAQ:AMD) fell 18.21% after its revenue was lower than expected.

On the data front, jobless claims and durable goods orders come out at 8:30 AM ET (12:30 GMT) and pending home sales scheduled for 10:00 AM ET (14:00 GMT).

In commodities, gold futures rose 0.61% to $1,235.30 a troy ounce while crude oil futures decreased 0.06% to $66.78 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, inched down 0.06% to 96.12.

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