US Stock Futures Indicate Strong Opening Gains

US stock futures have risen sharply today as strong earnings reports from European and US firms have buoyed investor sentiments. While futures on the Dow Jones Industrial Average climbed 53 points to 10501, those on the S&P 500 added 5.80 points to 1107.90. Meanwhile, Nasdaq 100 futures gained 8.25 points to 1878. Investors today are awaiting weekly jobless claims data, which will be released by the Labor Department at 8:30 am EDT. Markets will otherwise be quiet on the economic front and all eyes will be riveted to the claims data. On the corporate front, the companies that will be in focus are Colgate-Palmolive Co. CL, Motorola Inc MOT, Exxon Mobil Corp XOM, Kellogg K and Astra Zeneca PLC AZN. All these companies have posted results today. Overseas, European shares gained as most of the earnings posted today exceeded the consensus. The Europe Stoxx 600 index gained 0.4%. Joshua Raymond, market strategist at City Index, said, “Company earnings are coming in thick and fast, and the general theme so far has been one of outperformance as opposed to disappointment, and this has invigorated appetite for risk.” Read more from Benzinga's Markets.