U.S. stock futures were near high levels Wednesday, as Joe Biden was preparing to become U.S. President for the first time, while Netflix went up after saying no. e borrowed billions of dollars to fund his TV shows and films.
Shares of the world’s largest streaming service rose 13% in pre-sale trading, helping to stimulate futures keeping an eye on the wider tech-heavy Nasdaq 100 index .
Wall Street’s key indices came to a higher end on Tuesday after Finance Secretary Janet Yellen’s nominee urged lawyers to “be big” to save the US economy affected by coronavirus and worry to take on debts later.
Biden, who is set to take over as the 46th President of the United States just after noon (1700 GMT) on Wednesday, will not spend much time trying to turn the page on Trump’s time, he said. councilors, signed a number of 15 actions on issues ranging from pandemics to the economy to climate change.
At 6:59 am ET, the Dow E-minis was up 33 points, or 0.11% and the S&P 500 E-minis was up 12.5 points, or 0.33%. Nasdaq 100 E-minis went up 104.5 points, or 0.8%.
Morgan Stanley climbed 1.7% ahead of its yields which would make up earnings from major US lenders.
UnitedHealth Group Inc slipped 0.3% after health insurer’s quarterly profit fell nearly 38%, measured by costs associated with its programs to make COVID-19 testing and treatment more accessible to its customers .
S&P 500 company earnings are expected to rise 24% in 2021 after falling 15% in 2020, according to Refinitiv data. With stock market valuations sitting near a 20-year high, investors are hoping that corporate yields and profit forecasts will help them determine the extent to which valuations are reasonable.
Boeing Co added 1% after Berenberg upgraded the stock to “keep” from “selling”, saying the worst has passed and believes the resumption of 737 flight delivery MAX in December marks turning point towards aircraft financial recovery.