Wall Street was poised to open with solid gains Wednesday as a busy slate of corporate earnings reports overshadowed recent concerns over souring U.S.-China trade relations.
Futures for the S&P 500 rose 0.6% before the bell, while futures for the Dow Jones Industrial Average gained 0.4% and Nasdaq futures picked up 0.7%.
The Russell 2000 Index, which tracks the smallest publicly traded U.S. companies, is hovering near record highs with talk of potential interest rate cuts from Fed Chair Jerome Powell this week fueling the rise. Futures for the Russell 2000 rose 1% to 2,535 in premarket.
Gold rose to new highs, hitting $4,217 per ounce at one point overnight. The precious metal has soared nearly 60% in 2025 as investors seek a hedge against a long list of uncertainties, including higher tariffs and the economy.
Bank of America jumped 4.8% after it reported that its third-quarter profit jumped 23% from a year ago, to $8.5 billion. The Charlotte, North Carolina bank said its results were boosted by strong loan and deposit growth and record net interest income.
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