US STOCKS- Positive earnings boost futures after Monday's selloff

  • Reuters
  • Stock Market News
US STOCKS- Positive earnings boost futures after Monday's selloff
Credit: © Reuters.

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* Futures up: Dow 0.42%, S&P 0.37%, Nasdaq 0.65%

By Medha Singh

Feb 25 (Reuters) - U.S. stock index futures edged higher on Tuesday, helped by a slate of positive earnings, a day after the S&P 500 and the Dow Industrials logged their worst session in two years on worries over the worldwide spread of the virus.

Shares of Dow-member Home Depot Inc (NYSE: HD ) HD.N rose 2.5% in premarket trading after the home improvement chain beat quarterly sales and profit estimates. upbeat report in the retail space was from department store operator Macy's Inc M.N , which jumped more than 5% after a smaller-than-expected drop in quarterly same-store sales.

HP Inc (NYSE: HPQ ) HPQ.N gained 4% after the company said it would step up efforts to slash costs and buy back stock, as it seeks investor support to defend against a $35 billion takeover offer from U.S. printer maker Xerox (NYSE: XRX ) Holdings Corp XRX.N . positive fourth-quarter earnings along with hopes of a limited damage from the outbreak had fueled Wall Street's run to record highs until last week.

U.S. stock indexes have declined in the past three sessions with fears of a pandemic knocking off more than 3% on Monday after a flare up in infections in several countries.

As of Monday's close, the S&P 500 .SPX and the Dow Jones Industrials .DJI had erased their gains for the year.

At 7:43 a.m. ET, Dow e-minis 1YMcv1 were up 118 points, or 0.42%. S&P 500 e-minis EScv1 were up 12 points, or 0.37% and Nasdaq 100 e-minis NQcv1 were up 59 points, or 0.65%.

The CBOE volatility index .VIX , an options-based gauge of investor anxiety, was down 1.86 points after hitting its highest level since January 2019 on Monday.

Among other stocks, Perrigo PRGO.K jumped 10.6% after the drugmaker gained the first U.S. approval for a generic version of Teva Pharmaceutical Industries (NYSE: TEVA ) Ltd's TEVA.TA respiratory drug, ProAir.

Mastercard Inc (NYSE: MA ) MA.N shares fell 2.2% after the company said Chief Executive Officer Ajay Banga will step down at the start of the next year and be replaced by products head Michael Miebach. Shares of rival Visa Inc (NYSE: V ) V.N dropped 1.3%. will also keep an eye on the Conference Board's consumer confidence data for February, scheduled for 10:00 a.m. ET.

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