(Reuters) – U.S. stock futures rose Wednesday as high-growth stocks gained after a rally in Treasury yields halted. Investors took solace in upbeat earnings reports, and signs that tensions are decreasing in Ukraine.

Both the Nasdaq and The Nasdaq recovered early losses to end sharply higher Tuesday. This was due to Apple Inc (NASDAQ) and Microsoft Corp (NASDAQ:) Bank stocks which were supported by an increase in Treasury yields prior to a key inflation reading this Wednesday

The global stock market was stable on Wednesday with the benchmark falling from the multi-year peak reached in the previous session.

In premarket trading, megacap names, such as Meta Platforms (NASDAQ:) Inc and Alphabet (NASDAQ.com Inc) were up 0.8% to 1.6%.

Rate hike worries that caused investors to flee from high-value companies and have impacted growth companies as well as technology firms, were the biggest blows this year. In January, the Nasdaq dropped nearly 9% and has been marginally lower this month.

Investors await consumer prices data from Thursday in order to see if the Federal Reserve plans to raise interest rates. The announcement comes after concerns about a more aggressive Fed. Forecast inflation at 7.3%, which is the highest level in four years.

According to Mary Daly, President of San Francisco Federal Reserve Bank Mary Daly on Tuesday, high U.S. inflation could rise further despite Fed actions and receding supply chain strains.

06:39 AM. ET were up by 186 points or 0.53%. They were also up 31.75 point, or 0.7%. And they were up 139.75, or 95%.

News of a decrease in tensions between Russia, the West, and Ukraine over Ukraine has helped to lift investor sentiment along with positive earnings.

Enphase Energy (NASDAQ 🙂 rose 19.0% due to upbeat results. This lifted other solar stocks such as SunPower (NASDAQ 🙂 and SolarEdge Technologies(NASDAQ :), which rose respectively 6.8% and 9.4%.

CVS Health Corp. (NYSE:) lost 0.3%, despite its earnings forecast 2022 falling below Wall Street expectations. However, quarterly results were better than expected.

A ride-hailing platform Lyft Inc (NASDAQ) dropped 4.6% following a downbeat outlook on the quarter. Rival Uber Technologies Inc (NYSE:) Inc will report later today, with a 0.5% drop.

Walt Disney (NYSE) Co. and Barbie manufacturer Mattel Inc Other companies that report quarterly results are (NASDAQ:), which can be found later in the day.