By Oliver Gray
Investing.com - U.S. stock futures were higher in early APAC deals on Monday, after the S&P 500 posted its best week of 2022 amid strong quarterly earnings reports and a better-than-expected January employment report.
On Friday, the Dow slid 21.42 points or 0.06% to 35089.75 on Friday, the S&P 500 added 23.11 points or 0.52% to 4500.54 and the NASDAQ Composite gained 219.19 points or 1.58% to 14098.01. For the week, major indices gained 1.15%, 1.56% and 2% respectively.
Dow Jones Futures added 0.15%, S&P 500 Futures gained 0.14% and Nasdaq 100 Futures were up 0.13%.
Among stocks, EV makers posted solid gains as Tesla Inc (NASDAQ:TSLA) lifted 3.61%, Rivian Automotive Inc (NASDAQ:RIVN) added 0.84% and Lucid Group Inc (NASDAQ:LCID) gained 2.23%. Technology stocks also improved, as Block Inc (NYSE:SQ) gained 7.26%, Amazon.com Inc (NASDAQ:AMZN) added 13.5%, Microsoft Corporation (NASDAQ:MSFT) lifted 1.56%, Twitter Inc (NYSE:TWTR) popped 7.13%, Alphabet Inc (NASDAQ:GOOGL) lifted 0.14%, Netflix Inc (NASDAQ:NFLX) gained 1.13% and Advanced Micro Devices Inc (NASDAQ:AMD) surged 2.93%. Meantime, Snap Inc (NYSE:SNAP) rallied 58.8% and Facebook-parent Meta Platforms Inc (NASDAQ:FB) eased 0.28% after its quarterly update.
Major bank players lifted alongside long term bond yields. JPMorgan Chase & Co (NYSE:JPM) gained 2.6%, Citizens Financial Group Inc (NYSE:CFG) added 2.04%, Bank of America Corp (NYSE:BAC) lifted 3.98%, Wells Fargo & Company (NYSE:WFC) lifted 2.1%, Morgan Stanley (NYSE:MS) added 1.78% and Citigroup Inc (NYSE:C) gained 1.26%.
On the bond markets, United States 10-Year yields touched fresh 25-month highs of 1.912%.
On the data front, Nonfarm payrolls data showed that 467,000 jobs were added in January, well above market expectations of a 150,000 gain.
Ahead in the week, investors will be paying close attention as corporate earnings season continues this week, with quarterly updates from names such as Walt Disney Company (NYSE:DIS) and Coca-Cola Co (NYSE:KO), Amgen Inc (NASDAQ:AMGN), Take-Two Interactive Software Inc (NASDAQ:TTWO) and ON Semiconductor Corporation (NASDAQ:ON), while key inflation data will also be in the spotlight with the consumer price index on Thursday and the University of Michigan’s consumer sentiment survey on Friday.