Global stocks were set to move higher on Wednesday morning, following an upbeat round of earnings from two blue-chip U.S. companies as the third quarter earnings season progresses.
U.S. stock index futures were up with about an hour before markets open, suggesting that stocks will rise at the start of trading. Futures for the Dow Jones industrial average were up 73 points or 0.7 per cent. Futures for the broader S&P 500 were up 9 points or 0.8 per cent. Both indexes finished on Tuesday with modest gains, following signs from the U.S. Federal Reserve that additional stimulus measures were likely on the way.
In Europe, the U.K.'s FTSE 100 was up 1.6 per cent and Germany's DAX index was up 2.1 per cent in afternoon trading. In Asia, Japan's Nikkei 225 rose 0.2 per cent in overnight trading.
Intel Corp. reported better-than-expected third quarter results after markets closed on Tuesday, with net earnings rising 59 per cent over last year. The shares rose 1.3 per cent in premarket activity.
On Wednesday morning, JPMorgan Chase & Co. extended the winning streak. The financial firm reported that net earnings rose 23 per cent over last year, to $1.01 (U.S.) a share. Analysts had been expecting earnings of 90 cents a share.