U.S. futures rise on earnings amid countdown to Fed
BNN Bloomberg
Stocks and US equity futures rallied Wednesday as a batch of resilient company earnings helped alleviate some of the wider caution in markets ahead of a pivotal Federal Reserve monetary-policy meeting.
Contracts on the tech-heavy Nasdaq 100 were up about 1.7 per cent, while major technology and internet stocks advanced in premarket trading after reassuring reports from Alphabet Inc., Microsoft Corp. and Texas Instruments Inc. European stocks also rose, with the banking sector gaining even as Credit Suisse Group AG posted a larger-than-expected loss and Deutsche Bank AG warned on costs.
The mood remains edgy ahead of a much-anticipated Fed interest-rate increase -- part of a global wave of monetary tightening to quell inflation that’s stoking concerns about a worldwide economic slowdown. Investors are bracing for the busiest reporting day of the season and a slew of macro-economic data on Thursday.
Italian bonds fell after S&P Global Ratings lowered the nation’s outlook to stable from positive. The dollar and Treasury yields slipped, while oil and European natural gas prices extended gains.
