S&P 500 Index Futures Trading Higher

S&P 500 index futures are trading higher by seven points at 2067.50 in Wednesday's session. A solid earnings report from its largest component,

is the primary catalyst for the rally. Tuesday's close (2060.50) has been an important support level as the index bottomed at 2059.50 in pre-market trading and 2060.25 during the regular session. So far, the rally has taken the index just passed Monday's high (2068.50), reaching 2069. The high for the recent rally was made on Friday at 2074.50.

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