Stocks - U.S. Futures Jump as Congress Makes Border Wall Deal

Stocks - U.S. Futures Jump as Congress Makes Border Wall Deal  | Feb 12, 2019 11:54

Stocks - U.S. Futures Jump as Congress Makes Border Wall Deal – U.S. futures were higher on Tuesday, as Democratic and Republican lawmakers reached a tentative deal on border security funding, easing worry over another partial government shutdown.

The deal, which still has to pass Congress and be signed into law before Saturday’s deadline, does not provide the $5.7 billion asked by U.S. President Donald Trump but will provide $1.37 billion to erect 55 new miles of fencing along the U.S.-Mexican border.

The S&P 500 futures rose 18 points or 0.68% as of 6:40 AM ET (11:40 GMT) while Dow futures gained 195 points or 0.78% and tech-heavy Nasdaq 100 futures increased 56 points or 0.81%.

Earnings season continues, with results from Under Armour (NYSE:UAA), TripAdvisor (NASDAQ:TRIP), Activision Blizzard (NASDAQ:ATVI), and others.

Activision rival Electronic Arts (NASDAQ:EA) has surged 6% on enthusiasm for its new game Apex Legends, while Apple (NASDAQ:AAPL) inched up 0.75%, amid news that it is buying mesh home router company Eero. Tesla (NASDAQ:TSLA) gained 1%, while semiconductor company Micron (NASDAQ:MU) rose 1.22%, and Facebook (NASDAQ:FB) was up 0.7%.

Elsewhere, Gilead (NASDAQ:GILD) slumped 3.8% after the biotechnology company released disappointing test results from one of its drugs. Aurora Cannabis Inc (NYSE:ACB) fell 4% after reporting a shrinking margin in the first quarter, despite quadrupling its revenue.

Later, investors will be listening to speeches from Federal Reserve Chair Jerome Powell for hints on the monetary policy of the central bank in the coming months.

Powell speaks at the Hope Enterprise Corporation Rural Policy Forum, in Mississippi, at 5:45 PM ET (22:45 GMT). His colleagues Loretta Mester and Esther George are also due to speak today.

In commodities, gold futures rose 0.35% $1,316.45 a troy ounce, while crude oil rose 1.68% to $53.29 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was flat near a two-month high of 96.857.

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