Stock futures rose on Wednesday after earnings reports from two major bellwethers raised hopes that corporate earnings may be better than feared even with a possible recession on the horizon.
Futures for the Dow Jones Industrials leaped 239 points, or 0.7%, early Wednesday to 33,292.
Futures for the S&P 500 captured 19 points, or 0.5%, to 3,868.25.
Futures for the NASDAQ Composite picked up 34.25 points, or 0.3%, to 11,210.
Nike shares added 12% after the apparel maker beat Wall Street’s expectations for quarterly earnings and revenue. FedEx gained 4.7% even as it fell short of revenue expectations. The package delivery giant beat consensus earnings per share estimates on per-share.
In Japan, the Nikkei 225 slid 0.7% Wednesday, while in Hong Kong, the Hang Seng Index gained 0.3%.
Oil prices gushed $1.64 to $77.87 U.S. a barrel.
Gold prices docked $1.20 to $1,824.20 U.S. an ounce.