U.S. stocks are set to open higher Tuesday, extending recent gains as investors look past the coronavirus outbreak to a strong local economy and abundant central bank liquidity.
Futures for the S&P 500 traded 6 points, or 0.2%, higher, futures for the Nasdaq up 29 points, or 0.3%, while the Dow Jones futures contract rose 66 points, or 0.2%.
The U.S. earnings season enters its final stretch this week, but there are still some well-known names reporting. The quarter has generally been a positive one, with around 70% of companies beating expectations.
Shares in Hasbro (HAS.US) climbed over 7% premarket after beating earnings expectations. The toymaker was boosted by sales of products associated with the blockbuster movie ‘Frozen II’.
Shares in AutoNation (AN.US) climbed over 2% after the nation’s largest new-vehicle retailer posted stronger than expected earnings for the fourth quarter.
Shares in athletic apparel maker Under Armour (UAA.US) slumped 15% premarket after disappointing quarterly results.
After the close of trading, ride-hailing company Lyft (LYFT.US) is expected to report a loss of 53 cents per share, with revenue coming in at about $984 million.
Trader Milko Zashev