Futures rise as rate-hike bets ease; bank earnings awaited
2022.07.18 13:45
FILE PHOTO: A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 13, 2022. REUTERS/Brendan McDermid
(Reuters) – U.S. stock index futures on Monday extended gains from the previous week in the run-up to another round of earnings from big U.S. banks on easing bets of a super-sized interest-rate hike by the Federal Reserve.
Upbeat quarterly results from Citigroup Inc (NYSE:C) on Friday along with robust economic data that underscored an uptick on consumer sentiment boosted risk appetite.
Worries about a 100 basis point raise in rates at the end of this month eased following remarks from Fed officials last week that the policymakers could stick to a 75 basis point hike.
Earnings results are now awaited for Bank of America Corp (NYSE:BAC) and Goldman Sachs Group Inc (NYSE:GS), with both banks expected to post a drop in quarterly profit. Their shares were trading about 0.8% higher before the market open.
Boeing (NYSE:BA) Co rose 2.7% after Delta Air Lines (NYSE:DAL) said it will buy 100 MAX 10 jets worth about $13.5 billion at list prices and has options to buy another 30, at the Farnborough air show.
At 6:13 a.m. ET, Dow e-minis were up 277 points, or 0.89%, S&P 500 e-minis were up 38.75 points, or 1%, and Nasdaq 100 e-minis were up 146.5 points, or 1.22%.
