Los futuros de Dow suben casi 500 puntos a medida que aumentan las esperanzas de vacunas y los inversores animan las ganancias – MarketWatch


Market Snapshot

Apple wins court battle with EU over $15 billion tax bill

Goldman Sachs earnings in focus.


Stock-index futures pointed to a sharply higher start for Wall Street Wednesday, on optimism about progress on a COVID-19 vaccine candidate despite rising U.S. cases, while investors are digesting earnings reports and monitoring U.S.-China tensions.

What are major indexes doing?

Futures on the Dow Jones Industrial Average US:YM00 rose 556 points, or 2.1%, to 27,047, while S&P 500 futures US:ES00 advanced 47.90 points, or 1.5%, to 3,231.50. Nasdaq-100 futures US:NQ00 were up 76.75 points, or 0.7%, at 10,723.

The Dow US:DJIA on Tuesday gained 556.79 points, or 2.1%, to end at 26,642.59, while the S&P 500 US:SPX advanced 42.30 points to finish at 3,197.52, a gain of 1.3%, as energy shares and materials shares rallied. The Nasdaq Composite Index US:COMP closed with a gain of 97.73 points, or 0.9%, to settle at 10,488.58, erasing losses seen earlier in Tuesday’s session.

What’s driving the market

Global equities were buoyed after Moderna Inc. US:MRNA said its coronavirus vaccine candidate produced a “robust” immune-system response in a larger group of people and that the study would move to a decisive clinical trial in July.

Also U.K. television broadcaster ITV reported on speculation around potentially positive developments for an Oxford vaccine candidate backed by AstraZeneca PLC UK:AZN US:AZN.

“Investors are hopeful that we are getting closer and closer to finding effective treatments for coronavirus and an end to the pandemic, which could then clear the way for a big rebound in economic activity with so much stimulus money already in place by governments and central banks,” said Fawad Razaqzada, market analyst at ThinkMarkets, in a note.

Second quarter corporate earnings reporting season continues, after starting Tuesday with results from a trio of major banks. Dow component Goldman Sachs Group Inc. US:GS US:GS on Wednesday delivered results that beat expectations for earnings, with shares rising 5.8% in premarket action. The bank also reported its second highest revenues in history.

Meanwhile, President Donald Trump late Tuesday said he signed a bipartisan bill sanctioning China for its security crackdown on Hong Kong as well as an executive order to hold China accountable for “oppressive actions” against the former British colony’s people. Trump also said he had signed an order ending U.S. preferential treatment for Hong Kong. China said it would impose retaliatory sanctions against U.S. individuals and entities, news reports said.

In U.S. economic data Wednesday, the New York Federal Reserve Bank’s regional Empire State index for July posted its first positive reading since February.

The Fed is scheduled to release June industrial production and capacity utilization data at 9:15 a.m. Eastern. Economists surveyed by MarketWatch, on average, forecast a 4.1% rise in production, while utilization is expected to rise to 67.7% from 64.8% in May.

Philadelphia Fed President Patrick Harker is scheduled to deliver remarks at noon Eastern, while the Fed’s latest Beige Book report, an anecdotal compilation of economic activity across the country, is set for release at 2 p.m. Eastern.

Which companies are in focus?
  • Apple Inc. US:GS shares were up 1.6% in premarket trade after winning a court battle with the European Union in a dispute over a €13 billion ($15 billion) Irish tax bill.
  • Dow component UnitedHealth Group Inc. US:UNH shares edged higher in premarket trade after the health care company reported a second-quarter profit that rose well above expectations, but revenue that came up short, as premiums and services revenue missed
  • Moderna US:MRNA shares rose more than 14% ahead of the bell after its positive vaccine announcement.
How are other markets trading?

In Asia, the Shanghai Composite CN:SHCOMP fell 1.6% to end at 3,361.30, while the CSI 300 Index XX:000300 fell 1.3%. Japan’s Nikkei 225 Index JP:NIK lost 1.6%, while the Hang Seng Index in Hong Kong HK:HSI eked out a gain of 3.69 points to close at 25,481.58.

In Europe, the pan-European XX:SXXP Stoxx 600 Europe Index rose 1.9%, while London’s FTSE 100 UK:UKX was up 2%.

The yield on the benchmark 10-year Treasury note BX:TMUBMUSD10Y rose 4.4 basis points to 0.658%. Yields and bond prices move in opposite directions. The ICE U.S. Dollar Index US:DXY, a measure of the currency against a basket of six major rivals, was off 0.4%.

Oil futures rose, with the U.S. benchmark US:CL up around 1.5% to $40.90 a barrel, on the New York Mercantile Exchange. Gold US:GC00 futures edged lower to $1,808.60 an ounce.

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