By Shreyashi Sanyal

(Reuters) – U.S. stock futures rose Wednesday after positive U.S. results from UnitedHealth, Bank of America, and Big Tech stocks looked to be making a comeback.

UnitedHealth Group Inc (NYSE 🙂 beat the market’s estimates of quarterly profits due to strong demand for its insurance products. In premarket trading, the Dow component’s shares rose by 0.6%

Bank of America Corp. (NYSE:) gained 1.8% due to a boost in fourth-quarter profits. The increase was due in part to increased loan growth, and boom in international dealmaking.

Susannah Streeter is a senior analyst in investment and markets at the firm. She stated that “we’ve got fresh earnings coming in” and that investors look forward to these earnings, while temporarily forgetting about higher inflation concerns. Hargreaves Lansdown (LON)

The fourth-quarter earnings season at most of the other major banks began on a slow footing. JPMorgan Chase & Co (NYSE:), Citigroup (NYSE: Goldman Sachs Group Inc (NYSE 🙂 has reported disappointing results. This shook the bank index and also the financial sector from their record-breaking highs.

Morgan Stanley (NYSE:) saw a 0.5% increase in its quarterly results, which will bring to an end earnings for the major lenders.

Earnings from S&P 500 companies are expected to grow 23.1% year-over-year in the fourth quarter, according to IBES estimates from Refinitiv.

The close of Tuesday’s trade confirmed a 10% correction. However, the market had lost 9.7% from its record Nov. 19 closing high.

As a result of a sharp rise in U.S. Treasury yields, the tech-heavy index was also pushed below its 200 day moving average. [US/]

Stocks of megacap growth firms, such as Apple Inc (NASDAQ): Microsoft Corp (NASDAQ):, Alphabet(NASDAQ:) Inc., Tesla(NASDAQ:) Inc., Meta Platforms Inc., Netflix Inc. (NASDAQ):), increased to 1%

The Federal Reserve policy meeting next week will provide more details on how the central bank plans to manage inflation. Investors are eagerly awaiting this event. According to data last week, the U.S. Consumer Prices increased sharply in December. It was also the highest annual inflation increase for almost 40 years.

At 7:00 AM. ET was up 82 point, or 0.2%. They were also up 13.25 points (0.29%) and up 67.4%.

United Airlines saw 0.5% growth in fourth quarter earnings following markets close. Delta Air Lines (NYSE 🙂 posted better than expected results last week.