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. Technology, Banks, and Health Care sectors are leading the positive momentum, with revenue surprises also exceeding last quarter's figures. These developments highlight the resilience of U.S. corporates in a challenging economic environment, contributing to the underlying strength in the S&P 500 futures.
The SPDR Portfolio S&P 500 Growth ETF (SPYG) closed at $90.81, marking a 0.42% increase from the previous close, with a slight dip to $90.80 after hours on Wednesday, February 5.