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A tourist poses for a photo in Hollywood, California on Jul. 19, 2021, the second day of the return of the indoor mask mandate in Los Angeles County due to a spike in coronavirus cases.

AFP via Getty Images

U.S. equity futures climbed on Wednesday, with global stocks mostly higher and bond yields rising as a bounceback from an early-week slump continued. Earnings and rising coronavirus cases around the world remained in focus for investors.


Nikkei 225 index

rose after Japanese data showed a bigger-than-expected jump in June exports, beating forecasts. China’s

CSI 300 index

rose, but the

Hang Seng

dropped. Singapore announced it would return to a partial lockdown for a month, while Australia’s two biggest states reported rising Covid-19 cases despite lockdowns.

Australian stocks

rose after data showed rising retail sales.

European stocks

climbed as several heavily weighted companies reported results.

Stock futures were pointing to a higher start following Tuesday’s rally, with Dow futures up around 200 points. That is following a 550-point, or 1.6%, rally for the Dow Jones Industrial Average, a 1.5% gain for the S&P 500 and 1.6% gain for the Nasdaq Composite. Those gains followed sharp losses on Monday amid investor concerns over the potential damage from a fresh wave of coronavirus cases, which have largely been hitting the unvaccinated.

The yield on the 10-year Treasury note rose 4 basis points to 1.24%. That followed a swing higher on Tuesday, after a nearly 12 basis point tumble the day before. 

“But in spite of the mood music being a lot more positive as risk assets staged a decent recovery, there’s no denying that investors are still pretty jittery about the prospects for economic growth later this year given the Delta variant and the plethora of other risks on the horizon,” said a team of Deutsche Bank strategists led by Jim Reid, in a note to clients.

A fresh study released on Tuesday indicated

Johnson & Johnson

‘s one-shot Covid-19 vaccine may be much less effective against the highly contagious Delta variant. The study, which examined blood samples in a lab setting, hasn’t been peer-reviewed. A J&J spokesperson told the New York Times that data from the latest study “do not speak to the full nature of immune protection.”

The healthcare giant is due to report results ahead of Wednesday’s market open.

Also reporting early will be beverage giant


followed by

Texas Instruments

after the close.

Shares of Netflix slipped in premarket after the streaming service reported lighter-than-expected guidance for subscriber growth with its results late Tuesday. It also confirmed recent reports that it’s looking into expanding into streaming videogames.

Stock in Chipotle Mexican Grill jumped following the burrito chain’s upbeat fiscal second-quarter report late Tuesday. The company’s chief financial officer also said he was optimistic about more postpandemic growth ahead.

In Europe, shares of


fell, after the German software maker reported lower operating profit and revenue in the second quarter. That is as SAP lifted its targets for the year, citing expectations for higher cloud revenue growth.

Stock in

ASML Holding

climbed, after the Dutch semiconductor equipment maker reported higher second-quarter net profit rose and lifted full-year revenue growth guidance. It also launched a share-buyback program of up to €9 billion ($10.60 billion) until the end of 2023.

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