Wall Street Set To Open Higher On Busy Earnings Day

  1. Higher open ahead for US stocks

U.S. stocks pointed to a higher open on Tuesday, as investors geared up for first quarter earnings of several companies. At 6:12 a.m. ET, futures on the blue-chip Dow rose 111.5 points, or 0.42% to 26,484.5.

Futures on the Nasdaq 100 were up 32.25 points, or 0.42% to 7,680.00, while those on the S&P 500 traded up 9.12 points, or 0.31%.

  1. Busy day for earnings

Investors are expected to sort through a fresh batch of first-quarter earnings reports due today. Bank of America , Johnson & Johnson , and UnitedHealth  reported before the opening bell.

Johnson & Johnson reported adjusted earnings of $2.10 on revenue of $20.02 billion. Analysts surveyed by Refinitiv were forecasting adjusted earnings of $2.03 per share on revenue of $19.61 billion. United Health also beat first-quarter earnings expectations and hiked its full-year guidance. Bank of America posted a profit of $7.3 billion, or $0.70 per share versus Refinitiv consensus of $0.66 per share.

Streaming giant Netflix Inc and International Business Machines will release their earnings after the closing bell. Analysts expect IBM to report earnings of $2.22 per share on revenue of $18.51 billion. Netflix, meanwhile, is under pressure to show investors that it can continue growing its subscriber numbers amid concerns over competition from Apple and Disney .

  1. US-EU trade talks

European Union member states have paved the way for the start of formal trade discussions with the US. The 28-member EU voted on Monday to kick off the negotiations following months of delay because of opposition from France.

European Trade Commissioner Cecilia Malmstrom said the talks are expected to focus on cutting tariffs on industrial goods, and making it easier for companies to show products meet EU or US standards.

However, the EU is likely to find itself at loggerheads with the US because the bloc failed to include farm products in the negotiations. The Trump administration has long insisted that agricultural products should be covered in the discussions.

  1. AT&T sells Hulu stake

AT&T (NYSE: T) has sold the 9.5% stake that it had in Hulu in a deal worth $1.43 billion. The transaction, which was announced on Monday, values Hulu at roughly $15 billion. AT&T revealed that it intends to use the proceeds from the deal to reduce its debt. The transaction leaves Hulu with just two owners: Comcast Corp. and Disney .