Wall Street set for slight gains after slew of upbeat earnings
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* Boeing rises on posting second straight quarterly profit
* Coca-Cola jumps as soda demand fuels profit forecast raise
* Texas Instruments slips as supply chain woes to hurt Q4 revenue
* Futures up: Dow 0.11%, S&P 0.07%, Nasdaq 0.13%
By Devik Jain and Shashank Nayar
Oct 27 (Reuters) - U.S. stock index futures were set to open slightly higher on Wednesday, helped by a fresh batch of upbeat earnings reports that are likely to fuel Wall Street's record rally.
Microsoft Corp MSFT.O rose 2% in premarket trading as it forecast a strong end to the calendar year, helped by its booming cloud business.
Boeing Co BA.N gained 1.1% after it eked out a small adjusted profit, helped by a ramp-up in deliveries of its once best-selling 737 MAX jets.
Twitter Inc TWTR.N rose 1.5% after the social networking site's quarterly revenue grew 37%.
Google-owner Alphabet Inc GOOGL.O reported a record quarterly profit on a surge in ad sales. However, its shares were down 0.2% after rising nearly 59% so far this year.
"Today feels exactly like the calm before the storm ahead of a pile of earnings that is due tomorrow and everyone wants to know how the supply-chain issues are going to work out," said Dennis Dick, a trader at Bright Trading LLC.
Worries over rising prices, potentially higher corporate taxes and the Federal Reserve's tapering plans had rattled markets last month, but upbeat earnings reports have reinforced sentiment in October, helping drive the S&P 500 .SPX and the Dow .DJI to all-time highs.
Both the indexes closed at record highs on Tuesday, while the tech-heavy Nasdaq .IXIC was 1.1% away from the record high hit on Sept. 7.
Coca-Cola Co KO.N rose 2.9% after it raised its full-year profit forecast, as the reopening of theaters and restaurants in the United States drove demand for its sodas.
Profits for S&P 500 companies are expected to grow 35.6% year-on-year in the third quarter, according to Refinitiv IBES data.
At 8:50 a.m. ET, Dow e-minis 1YMcv1 were up 39 points, or 0.11%, S&P 500 e-minis EScv1 were up 3.25 points, or 0.07%, and Nasdaq 100 e-minis NQcv1 were up 20.75 points, or 0.13%.
Weighing on early trading, shares of energy firms including Chevron Corp CVX.N tracked lower oil prices, while major lenders such as Bank of America Corp BAC.N slipped on a flattening U.S. yield curve US2US10=RR .
Top Senate Democrat Ron Wyden proposed a so-called billionaires tax that would require U.S. billionaires to pay tax on unrealized gains from their assets.
"Taxing unrealized gains is a spooky thing. We have a government that is not scared to tax and that effectively affects investor sentiment," said Dick.
Texas Instruments Inc TXN.O forecast tepid quarterly revenue as the chipmaker struggles with supply chain constraints in the semiconductor industry, sending its shares down 5.6%.
Robinhood Markets Inc HOOD.O fell 8.6% after the retail broker reported downbeat third-quarter revenue as trading levels declined for cryptocurrencies including dogecoin.
Reporting by Devik Jain and Shashank Nayar in Bengaluru; Editing by Saumyadeb Chakrabarty and Shounak Dasgupta
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