US pre-open: Futures higher as investors digest earnings
Wall Street futures were in the green ahead of the bell on Wednesday as investors digested a slew of corporate earnings from the overnight.
As of 1230 GMT, Dow Jones futures were up 0.17%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.87% and 1.70% firmer, respectively.
The Dow closed 273.38 points higher on Tuesday as major indices attempted to bounce back from a rollercoaster month.
Early on Wednesday, market participants were thumbing over a handful of key corporate earnings released overnight, with Alphabet shares up in pre-market trading after beating on both the top and bottom lines and announcing a 20-for-1 stock split.
Advanced Micro Devices shares were also up double-digits before the opening bell on solid earnings, while General Motors posted earnings that beat estimates and raised its 2022 forecast despite seeing softer-than-expected revenues.
PayPal, on the other hand, slumped after the payments processor issued disappointing guidance.
Still to come, Meta Platforms, Qualcomm and T-Mobile will all post earnings on Wednesday.
On the macro front, mortgage applications to purchase a home increased 4% last week, according to the Mortgage Bankers Association, but were 7% lower on a year-on-year, while mortgage applications to refinance a home loan jumped 18% week-on-week despite the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increasing to 3.78% from 3.72%.
Still to come, ADP employment change figures for January will be published at 1315 GMT.