U.S. Stock Index Futures Inched Higher On Tuesday, getting a lift from a clutch of upbeat quarterly reports from Bank of America, UnitedHealth and Johnson & Johnson (NYSE: JNJ).
Investors are looking to the ongoing first-quarter earnings season to help sustain Wall Street’s rally this year from a selloff in late-2018. The benchmark S&P index is now within a per cent of its closing record high hit in September.
UnitedHealth Group Inc (NYSE: UNH) rose 1.2% in premarket trading after the largest U.S. health insurer beat quarterly profit estimates and raised its adjusted earnings target for the year.
Johnson & Johnson Gained 1.0% After The U.S. Healthcare Conglomerate Beat Quarterly Profit Estimates And Raised Its Adjusted Sales Growth Forecast For The Year.
Bank Of America Corp (NYSE: BAC) Reported A Better-Than-Expected Rise In Quarterly Profit, Helped By A Growing Loan Book And Cost Cuts. Shares Were Marginally Higher.
Bank Results Have Been Mixed So Far. JPMorgan Chase & Co (NYSE:JPM) Kicked Off Earnings For The Group On A Strong Note On Friday, But Goldman Sachs Group Inc (NYSE:GS) And Citigroup Inc (NYSE:C) Disappointed On Monday With Revenue Misses.
Among Big Names Reporting After Markets Close Include Netflix Inc (NASDAQ: NFLX) And International Business Machines (NYSE: IBM) Corp.
Analysts Now Expect S&P 500 Companies To Post A 2.1% Year-On-Year Decline In Profits, Which Would Mark Their First Annual Decline In Earnings Since 2016.
At 6:54 A.M. ET, Dow E-Minis Were Up 122 Points, Or 0.46%. S&P 500 E-Minis Were Up 9.5 Points, Or 0.33% And Nasdaq 100 E-Minis Were Up 33 Points, Or 0.43%.
J.B. Hunt Transport Services Inc Fell 4.6% After The Transport And Logistics Provider’s First-Quarter Profit And Revenue Fell Short Of Estimates.
On the macro front, industrial production is expected to rise 0.2 per cent in March following a 0.1% rise in February.
The Data Is Due At 9:15 A.M. ET.