The S&P 500 futures are buoyed by strong earnings reports as the fourth-quarter reporting season unfolds. According to a BofA Global Research report, U.S. investment-grade issuers have demonstrated a +14.2% y/y earnings growth, excluding the Energy and Finance sectors. Earnings have surpassed expectations by +5.5%, a notable improvement over the previous quarter's +2.5% surprise. The Technology, Banks, and Health Care sectors are leading this positive trend, with revenue surprises also exceeding the prior quarter's figures. These results highlight the resilience of U.S. corporates in a challenging economic environment, contributing to the upward momentum in the S&P 500 futures.
The Direxion Daily S&P 500 Bull 2X Shares (SPUU) closed at $156.00, marking a 0.98% increase from its previous close of $154.49 as of 16:40 on Wednesday, February 5.