06:18 AM EST, 01/22/2025 (MT Newswires) -- Wall Street futures pointed moderately higher pre-bell Wednesday after online entertainment giant Netflix (NFLX) reported robust earnings, and following President Donald Trump's announcement of a $500 billion investment plan, dubbed Stargate, to build out the nation's AI infrastructure, involving Oracle (ORCL), OpenAI, and Japan's SoftBank.

In futures activity, the S&P 500 rose 0.5%, the Nasdaq gained 0.8% and the Dow Jones inched up 0.2%.

Netflix traded up 15.9% pre-bell after the entertainment-streaming provider late Tuesday reported strong subscriber growth and rising quarterly earnings.

The IT colossus Oracle traded up 8.2% pre-bell, extending Tuesday's 7.2% rise.

Asian exchanges traded mixed overnight, with China-exposed markets falling back on prospects for increased US trade tariffs, while Tokyo surged higher on news that SoftBank tech-financiers are included in the US Stargate project.

European bourses tracked moderately higher midday on the continent.

Procter & Gamble (PG), Johnson & Johnson (JNJ) and GE Vernova (GEV) plan to report earnings pre-bell, among others.

On the economic calendar is the weekly MBA mortgage applications bulletin at 7 am ET, followed by the January Atlanta Fed Business Inflation Expectations bulletin, and the December leading indicators report, both at 10 am.

In pre-market action, bitcoin traded at $105,025, West Texas Intermediate crude oil traded higher at $76.37, and 10-year US Treasuries offered 4.57%. Spot gold traded for $2,762 an ounce.