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Stocks advance amid earnings; U.S. futures retreat - BNN Bloomberg

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Stocks gained on positive earnings reports in Europe and optimism about the rates outlook. U.S. futures fell after a late Wall Street rally.

The Stoxx Europe 600 index climbed, with oil-and-gas firm Equinor ASA and lender ABN Amro NV among those reporting an earnings beat. US futures were lower following a rally Tuesday led by the Nasdaq 100, after Federal Reserve Chair Jerome Powell passed up an opportunity to tamp down investor optimism. Chipotle Mexican Grill Inc. fell in late trading after profitability and a key measure of sales missed estimates.

Risk sentiment got a boost after Powell highlighted that disinflation has begun. While he repeated that further hikes will likely be needed if the jobs market remains strong, his comments soothed traders who had expected a more aggressive pushback against a loosening in financial conditions following Friday's bumper payrolls report.

 

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