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Earnings Continue to Boost Index Futures to Record Levels

  • Equity futures trade uniformly positively, with the e-mini S&P plumbing a fresh record high ahead of the bell, with the contract touching 4580.75 in early European hours. Earnings remain a driver with a tech tilt helping the NASDAQ future outperform core S&P and DJIA contracts.
  • The sentiment is reflected in European indices, with the Stoxx600 narrowing the gap with alltime highs printed in mid-August at 476.16. The consumer discretionary and industrials sectors are contributing most notably, with energy the sole sector in the red.
  • Focus remains on the earnings cycle following the stronger-than-expected release from Facebook after-market yesterday (shares trade higher by 3% pre-market), with reports from General Electric, UPS, 3M and Lockheed Martin to digest pre-market ahead of Microsoft, Twitter, Visa and Alphabet after the bell. Full schedule with expectations and timings found here:

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