US pre-open: Futures have major indices extending yesterday's rally
Wall Street futures were in the green ahead of the bell on Wednesday after major indices registered solid gains in the previous session.
As of 1215 GMT, Dow Jones futures were up 0.55%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.76% and 1.11% firmer, respectively.
The Dow closed 371.65 points higher on Tuesday as market participants digested December's trade balance figures.
Wednesday looked set to be yet another quiet day in terms of market-moving headlines, with traders continuing to hold out for tomorrow's consumer price index. The Federal Reserve has already indicated a change in monetary policy will follow the key inflation report as part of an effort to address historically high price increases.
On the macro front, US mortgage applications decreased in the week ended 4 February, according to the Mortgage Bankers Association, with applications to purchase a home falling 10% and applications to refinance a home loan dropping 7%. The fall comes as the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 3.83% from 3.78%.
Still to come, December wholesale inventories will be published at 1500 GMT.
In the corporate space, pharmacy chain CVS Health posted a 34% jump in quarterly on the back of Omicron-fuelled demand for Covid-19 tests and vaccinations, while both Fox and GlaxoSmithKline will also publish their latest quarterly figures before the open.
Disney, Mattel, MGM Resorts and Uber will all report after the close.