US pre-open: Stocks higher as Q1 earnings begin to roll in

Wall Street futures were in the green ahead of the bell on Tuesday following some stronger-than-expected quarterly earnings reports.

As of 1300 BST, Dow Jones futures were up 0.40%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.41% and 0.68% firmer, respectively.

The Dow closed 100.71 points higher on Monday, taking a bite out of losses recorded in the previous session.

Earnings were in focus early on Tuesday, with banking giant Bank of America trading higher after it beat on both the top and bottom lines with its Q1 earnings amid rising interest rates, while Johnson & Johnson topped expectations with its results, leading the drug and consumer products manufacturer to hike its full-year guidance.

Still to come, Netflix will report its latest set of quarterly figures after the close of trading.

On the macro front, March building permits data will be published at 1330 BST and Federal Reserve governor Michelle Bowman will deliver a speech at 1800 BST.

On the other side of the Pacific, Chinese gross domestic product rose at a 4.5% clip in Q1, the highest rate seen in twelve months and above the 4% increase expected by economists.

Reporting by Iain Gilbert at Sharecast.com