S&P 500 futures rose a whopping 19 points to 1348.25, NASDAQ futures rose 35.50 points to 2573.25, and Dow Jones Industrial Average futures rose 190 points to 12692.00.
Gold futures rose $25.80 to $1591.10 and oil gained 89 cents to $86.87.
EUR/USD futures continued their cycle of short covering after dropping the previous day. This morning the pair was trading at $1.2250, up 44 pipps. I am looking to fade the pair when it reaches $1.2300.
New York & Co. (NWY) surged over 14% as it expects Q2 earnings to exceed previous forecasts.
Lexmark International (LXK) a classic printer company, fell over 14% after cutting its Q2 earnings to a range between 87-89 cents, down from 95 cents to $1.05 a share.
J.P. Morgan’s earnings release helped lift markets after reporting higher than expected earnings. They reported a net income of $4.96 billion or $1.21 a share and net revenue of $22.18 billion.
David Cornes holds a degree in economics from the University of Montana.