NEW YORK (AP) — Stocks are set to extend gains after more upbeat earnings lifted expectations that the economy is steadily improving.
Big moves are being held somewhat in check Friday as investors worldwide wait for results from European bank stress tests. The tests could remove some uncertainty about how mounting government debt in many European countries could affect the financial sector.
Microsoft and American Express both reported earnings that topped forecasts. Their results show businesses and consumers are increasing their spending as the economy recovers.
Dow Jones industrial average futures are up 26, or 0.3 percent, at 10,293. Standard & Poor’s 500 index futures are up 3.90, or 0.4 percent, at 1,091.60, while Nasdaq 100 index futures are up 6.40, or 0.3 percent, at 1,858.75.
