U.S. Stock Futures Rise as Tech Leads Charge

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U.S. stock futures rose on strong earnings and renewed investor enthusiasm for big technology companies.

Futures tied to the tech-heavy Nasdaq-100 led markets, rising 0.4%, indicating the index may climb further after notching its third record high this year on Wednesday. Contracts tied to the broader S&P 500 rose 0.2%, as did those linked to the Dow Jones Industrial Average.

Investors are watching earnings closely to see if they support the strong run across markets in recent months. Many have bet on an economic recovery this year as Covid-19 vaccinations ramp up, increasing prospects for future earnings.

Shares of Travelers, a major property-casualty insurer, climbed 1.7% in premarket trade after it logged an increase in quarterly profit and a modest rise in net written premiums. Regional bank KeyCorp rose 2% after it recorded higher revenue and a larger profit, with increased activity in its consumer-mortgage and investment-banking businesses driving fees.

Railroad operator Union Pacific will also post earnings before the opening bell. Chip giant Intel and International Business Machines are slated to announce results after markets close.

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