Source: NYSE U.S. stock futures edged higher on Sunday afternoon after all three major averages posted their best week since June at Friday’s close. Futures linked to the Dow Jones industrial average gained 222 points, or 0.71%. S&P 500 and Nasdaq 100 futures rose 0.88% and 1.00%, respectively. The moves come after another volatile week for stocks as the third-quarter earnings season heats up. On Friday, the Dow gained more than 748 points, or 2.47%. The S&P 500 and Nasdaq Composite rose 2.37% and 2.31%, respectively. This added to gains from earlier in the week. The S&P 500 and Dow gained 4.7% and 4.9%, respectively, while the Nasdaq rose 5.2%. So far, earnings reports have had mixed results for stocks. On Friday, banking stocks Goldman Sachs and JPMorgan Chase gained more than 4% after the results were announced. But not all results were solid — Snap lost 28% after reporting an earnings miss. Stocks also rose on Friday despite bond yields moving higher – the 10-year US Treasury hit its highest level since 2008 amid mixed corporate earnings. Bond yields are the inverse of price. “The equity market is trying to bottom out to reach the last leg of the bear market,” David Donabedian, chief investment officer at CIBC Private Wealth US, said in a note on Friday. “It feels like a two-way market right now. We have a tug-of-war going on between the skeptics and those who think it’s time to get into stocks.”
