Seeking Alpha

Stock futures rise after strong data boosts sentiment

  • Stock futures indicate a higher open after a surprisingly strong showing of manufacturing activity in the New York region, as the Empire State index jumped to its highest reading since May 2012.
  • Both the S&P 500 and Dow are +0.2% and will look to test all-time highs, while the Nasdaq is +0.4% and readies for its best print since Sept. 2000.
  • European markets are broadly higher after the World Bank hiked its 2014 GDP growth forecast to 3.2% from 3% and raised its outlook for eurozone growth; Asian markets were strong, with the Nikkei's 2.5% jump recovering most of Tuesday's losses.
  • BofA +2.7% premarket after beating Q4 earnings and revenue expectations amid improving credit quality.
  • Apple +1.4% after Tim Cook said its China Mobile deal has helped spark iPhone sales to a record high in China during Q1.
  • Still ahead: Fed Beige Book, EIA petroleum inventories.
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