Street Calls of the Week
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* Futures rise: Dow 1.1%, S&P 1.17%, Nasdaq 1.09%
By C Nivedita and Shreyashi Sanyal
April 22 (Reuters) - U.S. stock index futures rebounded on
Wednesday as upbeat quarterly earnings reports lifted investor
sentiment following a two-day selloff due to a record crash in
oil prices, even as companies warned of more pain in the coming
months.
The benchmark S&P 500 index .SPX fell nearly 5% in the
first two days of the week as May WTI contracts plunged below
zero and the benchmark Brent LCOc1 hovered near 1999-lows,
triggering alarm about the hit to the global economy from a near
halt in business activity. O/R
Trillions of dollars in stimulus have helped Wall Street
recover from its March lows and the U.S. Senate on Tuesday
approved another $484 billion in relief, sending the bill to the
House of Representatives for a final vote later this week.
Texas Instruments Inc TXN.O headed higher in thin
premarket trading as it reported better-than-expected
first-quarter results and said a strong inventory allowed it to
be prepared for the disruptions caused by the pandemic.
Netflix Inc NFLX.O , deemed a "stay-at-home" stock as the
wide restrictions boost demand for online streaming services,
more than doubled its own projections for new customers in the
first quarter.
However, its shares fell 1.3% as it forecast a weaker second
half if the lockdown measures were to be lifted. Governors of about half a dozen U.S. states have pushed
ahead with plans to partially reopen for business despite
warnings by some health officials that doing so could trigger a
new surge in the coronavirus cases.
Fast-casual chain Chipotle Mexican Grill Inc CMG.N late on
Tuesday reported soaring digital and home delivery sales and
said it had enough cash and liquidity to get through the next
year.
Investors will next be looking at Delta Airlines DAL.N and
AT&T T.N earnings reports later in the day.
At 06:26 a.m. EDT, Dow e-minis 1YMcv1 were up 252 points,
or 1.1%, S&P 500 e-minis EScv1 were up 32 points, or 1.17% and
Nasdaq 100 e-minis NQcv1 were up 91.75 points, or 1.09%.
SPDR S&P 500 ETFs SPY.P were up 1.32%.
The S&P 500 index .SPX closed down 3.07% at 2,736.56 on
Tuesday.