U.S. stock futures pointed higher Tuesday, extending gains after the largest four-day stretch of gains since late July for both S&P 500 and Nasdaq Composite. Futures on the S&P 500 ES 00 gained 13 points, or 0.3%, in 4490 - positions at 4490.
On Monday the Dow Jones Industrial Average DJIA gained 36 points, or 0.1%, to 35259, while the S&P 500 SPX, gained 15 points, or 0.34%, to 4486, and Nasdaq Composite COMP, gained 124 points, or 0.84%, to 15022. The S&P 500 and Nasdaq Composite have each seen the best payout streak in four days since July 23.
The positive backdrop comes as corporate earnings have largely overshadowed worries about supply chain disruptions. According to Bank of America, 66% of companies have beaten on both sales and earnings per share, which is well above the historical average of 47%. Tuesday sees results from corporate titans including Johnson Johnson JNJ, and after the closing, streaming giant Netflix NFLX, Markets will also be eyeing the launch of the first Bitcoin exchange-traded fund and the flattening of the yield curve, as the spread between 5 - TMUBMUSD 05 Y and 30 year TMUBMUSD 30 Y, Treasury securities was the narrowest since early 2020. Housing starts and a gaggle of Federal Reserve officials speaking highlights the day s economic calendar.