- Stocks look to open with solid gains in the wake of a commitment by the People’s Bank of China injected funds into the market after committing emergency funding support for commercial banks preparing to meet demands for cash ahead of the Lunar New Year.
- S&P futures +0.5%, while the Dow and Nasdaq each +0.6%.
- The news eased fears of a credit crunch in China, lifting Asian and European stocks; the Nikkei, also supported by a weaker yen, rose 1%.
- The outlook also is helped by better than expected quarterly reports from the like of Travelers, J&J, Delta Air Lines, Halliburton and Baker Hughes: Dow Chemical +6.9% premarket on news Dan Loeb's Third Point had taken a $1.3B stake and was calling for a strategic review.
- Treasurys trade modestly lower, with the 10-year yield up nearly 2 bps at 2.84%.
Stocks to open strong after strong earnings reports, China liquidity moves
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