U.S. stock futures gained ahead of a busy day of earnings reports and Joe Biden’s inauguration as the 46th president.
Futures contracts linked to the S&P 500 rose 0.4% on Wednesday, while contracts linked to the high-tech Nasdaq-100 rose 0.8%. The Dow Jones Industrial Average futures were up 0.1%.
Investors were looking at a series of earnings reports from UnitedHealth, Procter & Gamble, US Bancorp and Morgan Stanley. United Airlines will release its earnings shortly after the markets close.
The stock started the week on an optimistic note, with all three major indices hovering just below its record highs. Investors remain optimistic that the fiscal stimulus is supporting companies amid the damage caused by the Covid-19 pandemic.
This will put pressure on companies to deliver during this earnings season and meet market expectations, said Brian O’Reilly, head of market strategy at Mediolanum Investment Funds.