Futures rise as rate-hike bets ease; bank earnings awaited

[July 18, 2022]  (Reuters) - U.S. stock index futures on Monday extended gains from the previous week in the run-up to another round of earnings from big U.S. banks on easing bets of a super-sized interest-rate hike by the Federal Reserve.

Upbeat quarterly results from Citigroup Inc on Friday along with robust economic data that underscored an uptick on consumer sentiment boosted risk appetite.

Worries about a 100 basis point raise in rates at the end of this month eased following remarks from Fed officials last week that the policymakers could stick to a 75 basis point hike.

Earnings results are now awaited for Bank of America Corp and Goldman Sachs Group Inc, with both banks expected to post a drop in quarterly profit. Their shares were trading about 0.8% higher before the market open.

Boeing Co rose 2.7% after Delta Air Lines said it will buy 100 MAX 10 jets worth about $13.5 billion at list prices and has options to buy another 30, at the Farnborough air show.

At 6:13 a.m. ET, Dow e-minis were up 277 points, or 0.89%, S&P 500 e-minis were up 38.75 points, or 1%, and Nasdaq 100 e-minis were up 146.5 points, or 1.22%.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur)

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