U.S. stock futures gained hope this Friday after Google Inc. reported quarterly earnings surpassing expectations.
Futures on the Dow Jones Industrial Average rallied 92 points to 11,484. Standard & Poor’s 500 stock index rose 11 points to 1209.10 while Nasdaq 100 futures climbed 20 points to 2346.
As it was reported that Google’s earnings were well beyond expectations of Wall Street, its shares shot up. Friday will also see many other U.S. economic reports being released.
Worry over the Europe debt crisis is on a high with finance ministers and central bankers from the Group of 20 leading industrialized and developing economies meeting in Paris this Friday.
Rome was also on a tensed string as Silvio Berlusconi faced a confidence vote in his government.
European equity markets had moderate gains and Stoxx Europe 600 index showed 0.7% rise in morning trade.
Simon Furlong, trader at Spreadex Ltd, stated in a note, “Despite poor economic news throughout the week, there is still very much a risk-on approach by investors. Worries over Europe seem to have been placed on the sidelines at the moment; however, any news from European leaders could swiftly change that.”
Dow index dropped 0.4% this Thursday as J.P. Morgan Chase & Co. showed sub-par earnings of third-quarter. Asian market also was dim as Hang Seng index fell 1.4%. Dollar index also slipped 0.1% to 76.967.
The euro saved the day, rising 0.5% to $1.3807.
Commodity market had a day with gold for December delivery rising $8.70 to $1677.30 an ounce on Globex and November crude-oil futures also rose $1.19 to $85.42 per barrel.