09:15 AM EST, 01/22/2025 (MT Newswires) -- US equity futures advanced pre-bell as traders overlooked mixed earnings reports and focused on President Trump's $500 billion plan to boost US artificial intelligence infrastructure.

Dow Jones Industrial Average futures and S&P 500 futures moved up 0.3%, while tech-heavy Nasdaq futures advanced 0.6%.

Oil prices continued to slide after Tuesday's losses, with the front-month global benchmark North Sea Brent down 0.1% to $79.19 per barrel and US West Texas Intermediate crude down 0.2% to $75.71 per barrel.

On the economic calendar, investors are looking ahead to the 10 am ET release of the Index of Leading Indicators, a monthly composite of 10 economic measures that aims to predict general economic conditions. Analysts expect December index to decline slightly.

Traders also focused on earnings reports Wednesday from big pharma companies, including, Johnson & Johnson (JNJ), Abbott Laboratories (ABT), and GE Vernova (GEV).

Trump announced on Tuesday a private-sector investment initiative of up to $500 billion to build AI infrastructure involving Microsoft-baked (MSFT) OpenAI, Oracle (ORCL), and SoftBank.

Asian stock markets were mixed, with Japan's Nikkei 225 up 1.6% following the disclosure of SoftBank's role in the US AI plan, Hong Kong's Hang Seng down 1.6% and China's Shanghai Composite finishing down 0.9%.

European bourses were mostly in the black, with the UK's FTSE 100 up 0.2%, and Germany's DAX up 1.2% in the early afternoon session.

In equities, shares of AI and quantum computing stocks advanced pre-bell, with Oracle up more than 10%, Nvidia (NVDA) up 3%, Rigetti Computing (RGTI) up 2.1%, D-Wave Quantum (QBTS) up 12%, and Quantum Computing (QUBT) up 8%.

Among decliners, Abbott Laboratories fell more than 2% following Q4 sales results that fell short of analyst expectations.