US stock index futures: earnings season picks up
At around 8:30 a.m. ET, Dow Jones Industrial Average futures rose 140 points, indicating a gain of 150.71 points at the open. Nasdaq 100 and the S&P 500 futures also indicated a positive start to their respective trading sessions.
Alphabet shares surged 4.5 percent in the premarket to lead tech shares higher after the company reported stronger-than-forecast quarterly results. Facebook and Amazon rose 2.2 percent and 1.4 percent, respectively. Netflix and Twitter gained 0.7 percent and 1 percent, respectively.
Biogen shares jumped more than 5.5 percent after reporting earnings and revenue that beat expectations. Dow component United Technologies posted stronger-than-expected earnings and raising its full-year profit guidance, but its stock fell 0.6 percent.
Equities also got a boost after China said it would use fiscal action to support its economy. The news jolted stocks around the world. In Europe, the Stoxx 600 index rose nearly 1 percent while the Shanghai Composite jumped 1.5 percent. The possibility of further loosening in monetary conditions pushed the offshore yuan down to a 13-month low.
The U.S. composite purchasing managers’ index (PMI) is also due out at 9:45 a.m. ET.