The S&P 500 futures are experiencing a positive momentum driven by robust fourth-quarter earnings reports. 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. The earnings have surpassed expectations by +5.5%, significantly higher than the previous quarter's surprise. Technology, Banks, and Health Care sectors are leading this growth, contributing to the overall positive sentiment in the market. These earnings surprises highlight the resilience of U.S. corporates despite the challenging economic environment.
The Direxion Daily S&P 500 Bull 3X Shares (SPXL) closed at $181.82, marking a 1.28% increase from the previous close, and is currently trading at $181.96, up 1.35% as of 16:40 on Wednesday, February 5.