Dow Futures 90 Points Higher; Earnings Impress Ahead of Jobless Claims By Investing.com – Investing.com

Dow Futures 90 Points Higher; Earnings Impress Ahead of Jobless Claims By Investing.com – Investing.com

© Reuters.

By Peter Nurse   

Investing.com - U.S. stocks are seen opening higher Wednesday, buoyed by signs of a strong corporate earnings season ahead of the release of key unemployment data.

At 7 AM ET (1100 GMT), the contract was up 90 points, or 0.3%, traded 10 points, or 0.2%, higher and gained 24 points, or 0.2%.

The major equity indices closed higher Wednesday, with the gaining almost 300 points, or 0.8%, the rising 0.8%, and the rising 0.9%. Adding to Tuesday’s gains, this means Wall Street had erased all of Monday’s substantial losses.

Helping the market recover has been a strong start to the quarterly earnings season. According to data from Refinitiv, 15% of the S&P 500 companies have reported earnings to date, with 88% beating earnings estimates.

Texas Instruments (NASDAQ:) reported a positive second quarter late Wednesday, helped by a more than 40% rise in revenue, but the chipmaker’s stock is seen falling sharply Thursday amid concerns that demand for silicon chips is peaking.

Dow (NYSE:) stock is seen higher premarket after the chemicals company said its second-quarter profit doubled from the prior period, helped by strong consumer and industrial demand