US Morgenlatte

U.S. futures extend gains after Wells Fargo report

By Steve Goldstein, MarketWatch
Last update: 8:15 a.m. EDT April 9, 2009

LONDON (MarketWatch) -- U.S. stock futures rose Thursday ahead of a three-day weekend, as an early release of profits from Wells Fargo added to the optimism around the financial sector.
S&P 500 futures rose 14 points to 836.60 and Nasdaq 100 futures rose 15.75 points to 1,314.20. Dow industrial futures rose 106 points.

Futures had already been stronger but took a big bounce higher after the Wells Fargo results hit.
The San Francisco bank said it earned $3 billion, or 55 cents a share, in the first quarter - well ahead of market estimates. Revenue rose an estimated 16% to $20 billion.

Wells Fargo shares WFC 14.89, +0.04, +0.3%) jumped 20%.

Financials had already been strong as The New York Times quoted sources saying all 19 banks undergoing stress tests will pass them.

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