U.S. stock index futures were slightly higher during overnight trading on Sunday, after the major averages posted their best week in months amid a stronger-than-expected start to earnings season.

The Dow Jones Industrial Average indexed futures contract rose 40 points. S&P 500 futures added 0.1%, while Nasdaq 100 futures gained 0.2%.

Major averages falling winning week. On Friday, the Dow gained 382 points and ended the week with an increase of 1.58%. This is its highest week since June. The S&P 500 rose 1.82% last week for its best week since July, while the Nasdaq Composite saw its best week since the end of August, with the tech-heavy index adding 2.18%.

Additionally, better-than-expected earnings from Goldman SachsPositive economic data also helped boost stocks on Friday Retail sales rose 0.7%The Census Bureau reported Friday that September’s reading was 0.2%. Dow Jones surveyors expected an increase of 0.2%.

According to Edward Moya (Oanda senior market analyst), Wall Street had expected a slower pace of spending. But it turned out that the U.S. consumer was not to be ignored. The consumer appears strong headed into the holiday season, he said.

The earnings season has begun in earnest and many big-name names will be reporting in the coming weeks. coming week, including Netflix, Johnson & Johnson, United Airlines and Procter & Gamble on Tuesday. The week’s other big names include IBM, Verizon, and Tesla.

So far 41 S&P 500 components have reported third-quarter results, with 80% of them topping EPS expectations, according to data from FactSet. Taking into account the companies that have already reported and estimates for the rest, third-quarter profit growth will total 30%, the third highest quarterly growth rate for S&P 500 companies since 2010, according to FactSet.

The major averages are within striking distance from their historic highs due to strong results, even from large banks. The Dow is less than 1% from its record high, while the S&P 500 and Nasdaq Composite are 1.6% and 3.3% below their records respectively.

When earnings season begins, investors will keep an eye out for comments from companies about inflation and supply chain bottlenecks.

In a Sunday note, Evercore ISI Chairman Ed Hyman wrote that growth in 2022 will likely be lifted by lagged effects of monetary stimulation, surging Consumer Net Worth and inventory rebuilding. The supply chain problems will probably ease and there is likely to still be unfilled demand next year. “Wages will likely increase which should lift consumer incomes,” said he.

According to Coin Metrics data, Bitcoin held over $60,000 at Sunday’s high but fell from the recent peak. The first bitcoin futures-exchanged-traded fund is now in place. begin trading this week

Bitcoin rose on Friday, in anticipation of such a listing. The largest cryptocurrency in the world topped $60,000 last weekFor the first time since April 2007, trading reached $62,307.