US futures point to a higher open on strong start to earnings season

U.S. stock index futures were higher Tuesday morning, after a number of major companies posted big earnings beats.

Around 7 a.m. ET, Dow futures indicated a positive open of more than 120 points. Futures on the S&P and Nasdaq were both also higher.


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Earnings season kicked off with stronger-than-expected results from J.P. Morgan Chase, Johnson & Johnson, UnitedHealth, and BlackRock, sending shares higher in the premarket.

Citigroup, Goldman Sachs, and Wells Fargo are also set to release their latest performance numbers before the bell, while United Airlines and Interactive Brokers will release earnings after the bell.

Meanwhile, market players are monitoring developments on the trade front. U.S. Treasury Secretary Steven Mnuchin told CNBC that tariffs will go up in December if there is no deal in place with China.

“I have every expectation if there’s not a deal those tariffs would go in place, but I expect we’ll have a deal,” Mnuchin said Monday.

Furthermore, the U.S. has also decided to stop trade negotiations with Turkey and raised its steel prices to 50%. The decision followed an earlier U.S. announcement to remove all U.S. troops from the northern border of Syria with Turkey.

On the data front, the New York Empire State manufacturing figures are due to be released at 8:30 a.m. ET.

Source: cnbc.com | Original Link

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