U.S. stock futures rise as big banks continue to post strong quarterly earnings

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U.S. stock futures rise as big banks continue to post strong quarterly earnings

U.S. stock futures were pointing to a higher open as the big banks continued to post strong quarterly results.

Dow Jones Industrial Average futures rose 201 points, or 0.59%, while Nasdaq 100 futures and S&P 500 futures advanced 0.67% and 0.76%, respectively.

The gains come ahead of the release of September s industrial price index and weekly jobless claims.

In stocks, Bank of America Corp. reported earnings and revenue that exceeded Wall Street estimates amid strong growth in its lending and stock-trading units. The bank also benefited from the release of $1.1 billion in reserves that were built up during the pandemic.

What's been the well spent move up 500 to 430? Both sales and earnings met analysts expectations.

Morgan Stanley beat the expected record growth rate as its wealth management division added record amounts of assets.

The Citigroup Inc. is scheduled to report hours before the opening bell.

On the profit front, Domino s Pizza Inc. reported an unexpected fall in same-store sales in the United States.

UnitedHealth Group Inc. raised its full-year profit outlook due to robust membership growth in its insurance business from both commercial and Medicare and Medicaid plans.

Meanwhile, oil companies like Chevron Corp. ExxonMobil Corp. and Haliburton Co. gained as West Texas Intermediate crude oil climbed to $81.44 a barrel.

Miners, like Barrick Gold Corp. and Newmont Corp. added to Wednesday s gains as gold rallied $6.50 to $1,801. 20 ounce.

Electric truck brand Lordstown Motors Corp. has named Adam Kroll, a former investment banker who recently served as chief administrative officer at hydrogen-powered commercial vehicle maker Hyzon Motors, as its new finance chief.

Euro bourses were broadly higher, with the Britain's FTSE 100 up 0.75%, the Germany DAX advancing 0.86% and France s CAC 40 rising 0.9%.

In China, Asia s Nikkei 225 rallied 1.46% while the China s Shanghai Composite Index fell 0.1%. Hong Kong's Hang Seng index remained closed for holidays.