REUTERS: Wall Street's main indexes were set to open near record highs on Wednesday, as a largely upbeat corporate earnings season and optimism around a U.S.-China trade truce drive a rally in stocks.
"We're at a place now where the three things that have been driving markets have continued to be consistently constructive: better-than-expected earnings, data apart from manufacturing is better and the tone around trade is as good as we've seen in the cycle," said Art Hogan, chief market strategist at National Securities in New York.
To some extent, however, those figures reflect the significantly lowered expectations of analysts, who had forecast the first earnings drop since late 2016, and doubts linger about the market's ability to rally much further this year.At 8:53 a.m. ET, Dow e-minis were up 33 points, or 0.12per cent. S&P 500 e-minis were up 3.75 points, or 0.12per cent and Nasdaq 100 e-minis were up 8.75 points, or 0.11per cent.
CVS Health Corp gained 2.7per cent after the pharmacy chain posted a better-than-expected quarterly profit, boosted by its Aetna health insurance business and pharmacy benefit management unit.
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