Cautious optimism ahead of another batch of U.S. corporate earnings has left stock futures inching higher early Tuesday.
How are stock-index futures trading On Monday, the Dow Jones Industrial Average DJIA rose 101 points, or 0.3%, to 33987, the S&P 500 SPX increased 14 points, or 0.33%, to 4151, and the Nasdaq Composite COMP gained 34 points, or 0.28%, to 12158. Results so far have been generally well-received and this has helped the S&P 500 to hold near the top of the 3,800 to 4,200 range it has occupied for about five months as softer inflation data of late has also reduced concerns about faster Federal Reserve rate rises.
And data out of China on Tuesday suggested an important growth driver of the global economy was improving, with GDP up 4.5% in the first quarter, boosted by increased consumption and retail sales, after authorities abruptly abandoned the stringent “zero-COVID” strategy.
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