Stock Market News Today: Futures Trend Higher as Investors Cheer Key Earnings

Analysts now expect overall S&P 500 earnings to decline 3% year-over-year, which is nearly double the 1.6% decline estimated at the beginning of this year.

Coming to key economic releases, initial jobless claims for the week ended January 21, advance estimates of real gross domestic product, durable goods orders, and new home sales are slated to be announced today.

The Hang Sang Index was up 2.4% at market close, fueled by holiday spending data and tourism numbers that indicated a recovery in Hong Kong and Mainland China.

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