Futures climb ahead of big bank earnings, producer prices data By Reuters

Futures climb ahead of big bank earnings, producer prices data By Reuters



© Reuters. Traders work on the ground of the New York Stock Exchange (NYSE) in New York City, U.S., October 13, 2021. REUTERS/Brendan McDermid

(Reuters) – U.S. inventory index futures climbed on Thursday as surging oil prices lifted power shares, whereas traders awaited earnings updates from big banks and a contemporary studying on inflation data.

After a powerful quarterly efficiency from JPMorgan Chase & Co (NYSE:), friends Bank of America (NYSE:), Citigroup (NYSE:), Wells Fargo (NYSE:) and Morgan Stanley (NYSE:) had been set to publish their outcomes earlier than the opening bell.

Their shares edged larger in premarket buying and selling after declining sharply within the earlier session.

The and the Nasdaq ended larger on Wednesday, led by mega-cap tech names after the Federal Reserve signaled it might begin lowering its crisis-era help by mid-November, with a number of policymakers apprehensive that top inflation might persist longer than beforehand thought.

The case for a Fed interest-rate hike was additional strengthened on Wednesday as shopper prices rose solidly in September. All eyes are on producer prices data and preliminary jobless claims, due at 08:30 a.m. ET.

At 06:00 a.m. ET, had been up 208 factors, or 0.61%, had been up 30.25 factors, or 0.69%, and had been up 119.25 factors, or 0.81%.

Mega-caps progress names together with Facebook Inc (NASDAQ:), Microsoft Corp (NASDAQ:), Amazon.com Inc (NASDAQ:), Tesla (NASDAQ:) Inc, Apple Inc (NASDAQ:) and Google-parent Alphabet (NASDAQ:) rose about 1%.

Energy companies together with Chevron Corp (NYSE:) and Exxon Mobil (NYSE:) gained 0.7% and 1.2%, respectively, monitoring prices that rose towards $84 per barrel. [O/R]

Rising oil prices coupled with provide chain disruptions have rattled traders, with traders specializing in how firms are going to mitigate rising prices as earnings get underneath approach.

UnitedHealth Group Inc (NYSE:) rose 2.1% after the well being insurer beat analysts’ estimates for third-quarter revenue, helped by a soar in income from its Optum unit that manages drug advantages.

U.S.-listed shares of Taiwan Semiconductor Manufacturing Co Ltd added 3.4% after the chipmaker posted a 13.8% soar in quarterly revenue and lifted its income progress forecast for 2021, citing an “industry megatrend” of sturdy chip demand.

Pharmacy chain Walgreens Boots Alliance (NASDAQ:) Inc and pizza chain Domino’s Pizza (NYSE:) Inc are additionally slated to report their quarterly earnings later within the day.

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