A.M. Update

S&P futures are up +0.7% and Nasdaq-100 up +1.855, supported by a 9% gain in Microsoft (MSFT) following its better-than-expected quarterly results and outlook. Apple and Amazon report after the close. WTI crude oil futures are down -0.6% in what’s essentially a consolidation of yesterday’s gains. Yields remain elevated, up 5 to 6 basis points…