Before the Bell: Earnings move to the forefront

Wall Street futures were up early Thursday with traders turning their attention to earnings from big corporate names, including Apple after the close. Major European markets were positive.

“Indeed, this is about as dovish a take from Chair Powell as the markets will ever get from the typically conservative head of the Fed.” “The good news is that the morose expectations could be easier to beat,” she said, noting Apple’s revenue is expected to fall by about 3 per cent in the latest quarter.

Overseas, the pan-European STOXX 600 was up 1.28 per cent in morning trading. Britain’s FTSE 100 added 1.2 per cent. The Bank of England is scheduled to make its next rate announcement this morning. Economists expect to see no change in borrowing costs.Commodities “One minute, speculators are running with geopolitical risk; the next, its economic storm clouds billowing on the horizon,” SPI Asset Management’s Stephen Innes said in a note.

In other commodities, gold prices edged higher in early trading, supported by a weaker U.S. dollar and a decline in Treasury yields.

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