Stock-index futures pointed to a high start on Wall Street on Wednesday, as investors took some delight from the positive result for the COVID-19 vaccine, citing earnings reports, given the continued growth of cases in the US US-China stress while monitoring growth and growth.
What are the major indices doing?
Futures on Dow Jones Industrial Average YM00,
Rose 490 points, or 1.9%, to 26,981, while the S&P 500 futures ES00,
Advanced 42.15 points or 1.3%, at 3,225.75. Nasdaq-100 Futures NQ00,
Were up 73.75 points or 0.7% at 10,720.
On Tuesday, it ended 556.79 points or 2.1%, at 26,642.59, while the S&P 500 SPX,
Advanced 42.30 points finished at 3,197.52, up 1.3%, rallied as energy stocks and material stocks. Nasdaq Composite Index Comp
The stock closed up 97.73 points, or 0.9%, to close at 10,488.58, erasing the loss seen earlier in Tuesday’s session.
What’s driving the market
Boom after global equity Modern Inc.
Stated that its coronavirus vaccine candidate produced a “strong” immune-system response in a large group of people and that the study would go on to a conclusive clinical trial in July.
In addition, UK television broadcaster ITV reported on speculation about a possible possible development of an Oxford vaccine candidate supported by AstraZeneca PLC PLCN,
“Investors hope that we are getting closer and closer to finding effective treatments for coronoviruses and pandemics, which could then pave the way for a major rebound in economic activity for governments and central banks already with such an incentive Is., ”Said Fawad Razakzada, think market market analyst, in a note.
The second quarter corporate earnings reporting season continues, starting Tuesday with the results of a trio of major banks. Dow component Goldman Sachs Group Inc.
Wednesday gave results that beat expectations for revenue and earnings, with shares rising premarket action by more than 4%.
Meanwhile, President Donald Trump said late Tuesday that he signed a bipartisan bill that approved China for its security over Hong Kong, as well as China for “repressive actions” against former people of the British colony. Also gave an executive order to be held responsible. Trump also said that he had signed an order ending US preferential treatment for Hong Kong. China said it would impose counter-sanctions against American individuals and institutions, news reports said.
The Economic Calendar lists the New York Federal Reserve’s Regional Empire State Index as Eastern for July at 8:30 am. The US import price index for June is due at the same time.
The Fed is scheduled to release data on eastern industrial production and capacity utilization at 9:15 am. Economists surveyed by Marketwatch have, on average, projected a 4.1% increase in production, while utilization is expected to increase from 64.7% to 67.7% in May.
Philadelphia Fed President Patrick Harker is scheduled to deliver remarks at noon Eastern, while the Fed’s latest Beige Book report, a de facto compilation of economic activity across the country, is scheduled for release at 2pm Eastern.
Which companies are the focus?
- Apple Inc.
Shares in prepaid trade were up 1.5% after winning a court battle with the European Union over a € 13 billion ($ 15 billion) Irish tax bill dispute.
- Dow component UnitedHealth Group Inc
The shares rose sharply after the health care company expected second-quarter profit, which rose above expectations, but decreased revenue, as premiums and services revenue declined.
The stock rose more than 13% by the bell following its positive vaccine announcement.
How are other markets trading?
In Asia, Shanghai Composite SHCOMP,
Fell 1.6% to close at 3,361.30, while the CSI 300 index 000300,
Plunged 1.3%. Japan’s Nikkei 225 Index NIK,
Loss of 1.6%, while Hang Seng Index at Hong Hsi,
Closed at 25,481.58 points with a gain of 3.69 points.
In Europe, the Pan-European SXXP,
The Stoxx 600 Europe index climbed 1.7%, while London’s FTSE 100 UKX,
Was up 1.5%.
TMUBMUSD10Y, yield on benchmark 10-year Treasury note
Rose 2.7 basis points to 0.638%. Yields and bond prices move in opposite directions. ICE US Dollar Index DXY,
A measure of currency was off 0.4% against a basket of six major rivals.
Oil futures boom with US benchmark CL.1
About 1.3%. Gold GC00,