U.S. Stock Futures Mostly Up, AES Corp Shares Rise 7%
Stock futures are mostly in positive territory as traders digest stronger U.S. manufacturing data and impressive corporate earnings results, lifting confidence that corporate profits and macro fundamentals still provide support.Underlying this rebound is evidence that market breadth has improved, with not only mega-cap tech but also cyclicals taking part in the upside. Solid U.S. ISM manufacturing figures helped bolster economic optimism and pushed Treasury yields slightly higher, reflecting a healthy growth narrative that has given equity investors something to hang onto. Precious metals and cryptocurrencies, which were sources of volatility last week, remain in focus but have steadied somewhat, allowing equities to claim firmer footing.Traders are still keeping an eye on upcoming earnings from heavyweight companies across sectors, the delayed January jobs report due to the government funding impasse, and ongoing geopolitical developments that could influence sentiment and risk pricing.In pre-market trading, S&P 500 futures rose 0.19%, Nasdaq futures rose 0.46% and Dow futures fell 0.06%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -AES Corp.up 7% after BloombergBlackrock's GIP is partnering with EQT AB in a bid to acquire the companyUP AFTER EARNINGS -Teradyne (TER) up 19%Palantirup 11%Marathon Petroleumup 3%Ball Corp.up 2%Capri Holdingsup 1%MSG Entertainmentdown 1%MPLXup 1%DOWN AFTER EARNINGS -PayPaldown 17%Gartnerdown 17%TransDigmdown 5%Eatondown 4%Pfizerdown 4%Merckdown 1%PepsiCoup 1%LOWER -HP Inc.down 2% after reporting Enrique Lores stepped down as president and CEO to run PayPal