U.S. stock futures edged higher on Tuesday after a strong rally for three major indexes in normal trading.
Dow Jones Industrial Average futures rose 12 points, or 0.04%. S&P 500 and Nasdaq 100 futures rose 0.16% and 0.32%, respectively. Netflix rallied more than 7% in after-hours trading after saying it just lost 970,000 subscribers in the second quarterless than the 2 million it had previously predicted.
Traders betting that the market has found a bottom and will be boosted by higher-than-expected corporate earnings sent stocks higher on Tuesday, with all three major indexes trading above levels 50-day moving average for the first time since April.
The Dow gained 754.44 points, or 2.43%, while the S&P 500 gained 2.76%. The Nasdaq Composite rose 3.11%.
Bank of America’s latest survey of professional investors shows worsening investor sentiment is likely to set opportunity to buy in the market. The US dollar, which recently surged to a 20-year high against the euro, edged lower, giving the rally stronger.
Earnings also boosted, with bank stocks like Goldman Sachs and Bank of America ended the day higher after positive results. Both banks report on Monday. Shares of Halliburton and Hasbro achieved after beating earnings expectations.
“This is a broad rally today and some just lower dollar, lower commodity prices,” said Tim Seymour, founder and chief investment officer of Seymour Asset Management, on CNBC. , the momentum for reopening is better – and we’ve seen that.” Money “Tuesday.
Other earnings reports will be released later in the week. Companies include Tesla, United Airlines, American Airlines, Snap, Twitterr and Verizon scheduled to report in the coming days.
