U.S. stock futures jumped, suggesting indexes would rally for a second day after the opening bell as a combination of better-than-expected earnings and an easing of the turmoil in U.K. markets lifted investors’ confidence.
In morning trading in London:
- Futures for the S&P 500 climbed 1.29% while Dow Jones Industrial Average futures rose 1.02% and technology-heavy Nasdaq-100 futures rallied 1.6%. The moves come a day after the major indexes soared, with the Dow jumping more than 500 points.
- The yield on the 10-year Treasury note declined to 3.996% from 4.012% on Monday. Bond yields and prices move in opposite directions.
- Later in the day, investors will be parsing a batch of earnings from Johnson & Johnson, Lockheed Martin, Goldman Sachs and Netflix, among others. U.S. industrial production data are also due and are expected to register an increase in September.
- Overseas stock indexes rose sharply. In Asia, Japan’s Nikkei 225 index rose 1.4% while Hong Kong’s Hang Seng gained 1.6%. In Europe, the Stoxx Europe 600 rose 0.37% in early trading.
- In commodity markets, oil prices inched lower with Brent crude, the international benchmark, down 0.17% to $91.46 a barrel. Gold prices inched down 0.42% to $1,657 a troy ounce.
- Both VIX and VIXmain slid around 1%.