U.S. stock futures edged higher Thursday ahead of fresh data that will offer insights into the labor market’s recovery and the pace of sales in the red-hot housing market.
Futures tied to the S&P 500 ticked up almost 0.2%, pointing to an extension of the broad market index’s rally for a third day. Nasdaq-100 futures gained 0.2%, suggesting gains for large technology stocks at the opening bell.
Stocks have resumed their monthslong rally, erasing most of their losses from the sharp drop on Monday when the spread of the Delta variant raised alarms about renewed lockdown measures. Investors have since come back to equities, sending the major indexes less than 1% below their all-time highs. The focus is now on the corporate earnings season, with many companies reporting results that have exceeded Wall Street’s expectations.
“The earnings results have continued to be strong and guidance is showing that the delta variant isn’t impacting the recovery, so far at least,” said Esty Dwek, head of global market strategy at Natixis Investment Managers. “That is giving confidence to the market that the recovery can continue.”
AT&T , American Airlines , Southwest Airlines and Blackstone are among the companies scheduled to post results ahead of the opening bell. Intel , Twitter and Snap are set to report earnings after markets close.