Stock index futures in the US rose Wednesday morning on news that Morgan Stanley and Wells Fargo both beat expectations. Apple Inc. also provided a lift after issuing a strong earnings forecast.
“Apple broke the streak of companies who beat on earnings but missed on revenues, and maybe you can gauge some optimism from investors that maybe there is nothing structurally wrong with the economy that wouldn’t allow companies to grow if the products are right,” said Rick Meckler, president of investment firm LibertyView Capital Management in New York.
“Apple offered some hope that it is not an all-or-nothing situation, that growth is possible.”
Source: Reuters