Futures Rise following Dow Record - InvestingChannel

Futures Rise following Dow Record



Stock futures rose in early morning trading on Friday after the Dow Jones Industrial Average crossed the 34,000 threshold for the first time ever.

Futures for the 30-stock index gained 90 points, or 0.3%, to 34,013.

Futures for the S&P 500 picked up 10.5 points, or 0.3%, to 4,173.

Futures for the NASDAQ Composite index raced ahead 34.5 points, or 0.3%, to 14,048.50.

Wall Street is poised to wrap up another winning week. The S&P 500 has gained 1% this week, on pace for its fourth straight positive week. The Dow has climbed 0.7%, while the NASDAQ is up 1% through Thursday.

The last of the six largest U.S. banks – Morgan Stanley — reported stronger-than-expected earnings before the bell on Friday, bolstered by strong trading and investment banking results.

The first-quarter earnings season started on a high note with big banks reporting results above expectations. Morgan Stanley is set to release its earnings Friday before the bell.

Overseas, in Japan, the Nikkei 225 inched higher 0.1% Friday, while in Hong Kong, the Hang Seng index gained 0.6%.

Oil prices nicked ahead 10 cents to $63.56 U.S. a barrel.

Gold prices moved higher $16.20 to $1,783 U.S.

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