Earnings Reports Sends Wall Street Futures Higher

Wall Street futures point to a higher open on Monday as stocks appear set to recover from Friday’s sell-off. This week, 12 Dow components and 122 S&P 500 companies are set to report quarterly results.

“On the banks, there was a lot of discussion of the fact they were trimming the loan loss reserve to meet the numbers. But a lot of the firms coming up in the coming weeks are not going to have that issue, so we will really get a feel for where the economy is at,” said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.

“We’ve had a lot of bad economic numbers, a lot of uncertainty, and we are looking for some bright spots,” Jankovskis added.

Source: Reuters

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