Nasdaq 100 Futures Jump 1.4% as 3M Surges 7% on Earnings Beat
Updated
Updated · CNBC · Jul 21
Nasdaq 100 Futures Jump 1.4% as 3M Surges 7% on Earnings Beat
3 articles · Updated · CNBC · Jul 21
Summary
Nasdaq 100 futures rose 1.4%, outpacing a 0.6% gain in S&P 500 futures and a 0.3% rise in Dow futures as investors leaned into upbeat earnings.
3M jumped more than 7% after beating second-quarter estimates, while General Motors added 2% on a bottom-line beat, reinforcing a strong early reporting season.
FactSet data showed 87% of roughly 54 S&P 500 companies reporting so far have topped profit forecasts, with Alphabet, IBM and Tesla still due later this week.
Semiconductor shares added momentum: the VanEck Semiconductor ETF gained more than 3%, while Marvell, Micron and Astera Labs rose about 6% and Intel climbed over 5%.
The rebound came after war-driven losses Monday; despite a proposed 10-day U.S.-Iran ceasefire, Brent crude still traded near $89.77 and WTI near $83.90.