The S&P 500 futures are experiencing a positive momentum driven by robust 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 significant improvement over the previous quarter's +2.5% surprise. The Technology, Banks, and Health Care sectors are leading this earnings surge, with revenue surprises also exceeding last quarter's figures. These developments highlight the resilience of U.S. corporates in navigating a challenging economic environment.
The MAX S&P 500 4X Leveraged ETN (SPYU) closed at $50.83, up 1.64% from the previous close, and is currently trading at $50.92, reflecting a 1.82% increase as of 16:40 on Wednesday, February 5.