US STOCKS-Futures edge higher as focus turns to earnings season

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* Futures up: Dow 0.66%, S&P 0.24%, Nasdaq 0.31%

By Devik Jain
Jan 12 (Reuters) - U.S. stock index futures resumed their
climb on Tuesday as investors looked to the earnings season this
week for clues on the health of Corporate America and the
economy while awaiting details on the next package of official
economic stimulus.
Wall Street's main indexes ended off all-time highs on
Monday as investors worried that attempts to impeach President
Donald Trump could delay the Joe Biden administration's first
moves on stimulus, spurring some profit-taking on the past
month's gains.
Democrats will give Trump one last chance on Tuesday to
leave office days before his term expires or face an
unprecedented second impeachment over his supporters' storming
of the U.S. Capitol on Jan. 6. Fourth-quarter earnings will take center-stage starting on
Friday, with results from JPMorgan JPM.N , Citigroup C.N and
other big banks launching the reporting season.
Earnings for S&P 500 companies are expected to have dropped
9.8% year-over-year in the final quarter of 2020, according to
IBES data from Refinitiv, but they are expected to rebound in
2021, with a gain of 16.4% projected for the first quarter.
At 6:53 a.m. ET, Dow E-minis 1YMcv1 were up 66 points, or
0.21% and S&P 500 E-minis EScv1 were up 9 points, or 0.24%.
Nasdaq 100 E-minis NQcv1 were up 39.5 points, or 0.31%.
Morgan Stanley MS.N , JPMorgan Chase, Goldman Sachs GS.N ,
Bank of America BAC.N , Citigroup and Wells Fargo WFC.N rose
between 0.6% and 1.4% in premarket trading on the back of a rise
in U.S. Treasury yields. US/
Hopes of a big boost to public spending and speedy rollout
of vaccines under a Democratic-led U.S. Congress have pushed
Wall Street to record highs, with growth-linked financial,
industrial and energy stocks leading the market higher.
However, investors are weighing how much further the rally
in so-called value stocks can run, after a year in which they
have trailed behind technology and other "stay-at-home" winners
from the coronavirus crisis.
Intel Corp INTC.O rose 1.1% after sources said the
chipmaker plans to tap Taiwan Semiconductor Manufacturing Co
2330.TW to make a second generation discrete graphics chip for
personal computers that it hopes will help it combat the rise of
Nvidia Corp NVDA.O . U.S.-listed shares of Tencent (HK:0700) Music Entertainment Group
TME.N jumped 7.7% after a report said the Chinese music
platform is in talks with banks for a secondary Hong Kong
listing as it seeks to raise up to $3.5 billion.