Strong Alphabet, Intel earnings drive futures higher

- Robust earnings from Google-owner Alphabet and Intel lifted U.S. stock index futures on Friday, as investors await data that is widely expected to show that the domestic economy grew at its slowest pace in over two years in the second quarter.

Hopes that the Fed will cut rates by at least 25 basis points at its policy meeting at the end of this month have powered a solid run in stocks this month, lifting the main indexes to record highs. Alphabet Inc rose 8.6% after the company reported quarterly results that beat estimates and eased investors’ concerns about growth challenges facing its Google advertising business.

At 6:49 a.m. ET, Dow e-minis 1YMcv1 were up 86 points, or 0.32%. S&P 500 e-minis EScv1 were up 10 points, or 0.33% and Nasdaq 100 e-minis NQcv1 were up 36.75 points, or 0.46%.

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