Stock Market Futures Jump Ahead of Earnings Season

Stock Market Futures Bulls Are Back! U.S. stock-index futures Friday seemed set to start higher ahead of the unofficial start of the corporate earnings season, which is lead by the nation’s biggest banks. Investors also were digesting Chevron Corp.. ‘s $33 billion proposed purchase of Anadarko Petroleum, which might color market opinion.

Futures for the Dow Jones Industrial Average YMM9, +0.90percent were up 194 points, or 0.7%, at 26,328 those for its S&P 500 indicator ESM9, +0.68% gained 14.95, or 0.5%, at 2,906.75, while Nasdaq-100 stocks NQM9, +0.60% advanced 36 points to 7,654, a gain of 0.5%.

For The week, however, the Dow is set to decrease 1.1%, the S&P 500 is braced for a 0.2% weekly slip, while the Nasdaq is nursing a weekly gain of 0.1 percent, as of Thursday’s close.

On Thursday, the Dow DJIA, -0.05% fell 14.11 points to 26,143.05, the S&P 500 index SPX, +0.00% edged up 0.11 point to 2,888.32, and the Nasdaq Composite Index COMP, -0.21% fell 16.88 points, or 0.2%, to 7,947.36.

Trade led higher as transaction data from China that showed exports rose 14.2% from a year earlier in March, against predictions calling for an increase of 8.7% and following a sharp fall in February.

Moreover, issuance of new bank loans in China came in at 1.7 trillion yuan USDCNY, -0.1622percent above consensus expectations of 1.3 trillion yuan anticipated by economists, based on Econoday, indicating that efforts by the Chinese authorities to stimulate credit growth are functioning. Nevertheless, imports were flagging, reflecting soft domestic demand.

Meanwhile, quarterly outcomes from JPMorgan Chase & Co. JPM, +3.08% that kicked off first-quarter earnings early Friday, was better than expected.

WFC, +0.90percent also set to be published before the bell, Will Probably provide clues on the health of the U.S. market and the banking sector.

CVX, -4.20% were down 3.2percent in premarket, while people for Anadarko were up 30 percent on the takeover bid.

Disney’s shares DIS, +6.48% were responsible following the entertainment giant said it would begin Disney+ a video-streaming company starting Nov. 12 for $6.99 per month or $69 annually. Shares gained about 3%.
NFLX, -0.86percent dropped 1.4% prior to the bell, probably in reaction to Disney’s announcement.

JPMorgan’s Stock jumped after it reported earnings and profit which were better than consensus estimates from Wall Street analysts. Shares were up 2.4 percent.

Shares of Wells Fargo climbed 1.6percent in premarket activity, ahead of its first-quarter earnings release Friday morning.

PNC Financial Services Group Inc. PNC, +0.14% climbed 0.6% before the bell Friday, following the big regional bank reported met earnings expectations and slightly surpassed earnings projections for the first quarter.

At 8:30 a.m. the Commerce Department will issue its estimates for expansion in the new-home structure in addition to licenses issued to begin construction, in March.

“The Increase in exports is much more encouraging implying that demand for Chinese goods remains powerful,” even as the global economy is slowing,” said Michael Hewson, chief market analyst at CMC markets, even in a note to customers. He also added, however, that weak imports data reveal the domestic economy is still struggling.

“Chinese data looks to be the main Driver of the profits on Friday. While we shouldn’t get too carried away with the numbers — February’s data is an obvious reminder how volatile they could be the time of year — they are encouraging,” stated Craig Erlam, senior market analyst at Oanda told MarketWatch.

Strong outside Demand along with domestic stimulus measures will go some way to encouraging the world’s second-biggest economy which can come as a relief to everybody,” he said.

HSI, +0.24percent gained 0.2%, while the Shanghai Composite Index SHCOMP, -0.04% ended with a Small loss of less than 0.1%. European stocks, meanwhile, were showing muted moves, together with the Stoxx Europe 600 SXXP, +0.16% up about 0.1 percent.

In commodities markets, the price of petroleum CLK9, +1.64% Climbed after declining on Thursday after a monthly report from the International Energy Agency, while gold futures GCM9, +0.29% The U.S. dollar DXY, -0.39percent Was down 0.4 percent.

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