April 29, 2020 / 2:47 PM / a month ago

LIVE MARKETS U.S.-Stock futures react to the "3Gs", point to higher open

    * Futures point to opening gains
    * Europe higher; China edged up, Japan shut
    * Gold, dollar slip, WTI crude up; U.S. 10-Yr yield ~0.61%

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    STOCK FUTURES REACT TO THE "3Gs", POINT TO HIGHER OPEN (0856
EDT/1256 GMT)
    U.S. equity index futures are pointing to a higher open for
the major averages on Wednesday.
    This after Alphabet reported double-digit ad
revenue growth in its quarterly report on Wednesday
, and Gilead Sciences said this morning
that its experimental antiviral drug, remdesivir, had met the
main goal of a trial testing it in COVID-19 patients.

    That said, Q1 Advance GDP fell 4.8% vs. a Reuters poll
calling for  a decline of 4%. 
    In any event, as the market sorts through the GOOGL, Gilead
news and the GDP data, stock futures have strengthened, while
the U.S. 10-Year Treasury yield is around 0.60%.
NYMEX oil futures are rallying nearly 20%, and attempting
to end a 2-day losing streak.
    Meanwhile, markets await the results of the latest FOMC
Meeting at 2 PM EDT (1800 GMT) At this meeting, the Fed is
expected on to reiterate its promise to do whatever it takes to
support the world's largest economy.
    Here is your premarket snapshot:
 
 
    (Terence Gabriel)
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