Good morning moomooers! Here are things you need to know before the opening bell:

• U.S. stock futures ticked higher after the first banks to report quarterly results posted strong profits and ahead of another flurry of earnings updates and economic data.

• Stocks making the biggest moves in the premarket: Coinbase, Dell Technologies, Bank of America & more

Market Snapshot

U.S. stock futures ticked higher after the first banks to report quarterly results posted strong profits and ahead of another flurry of earnings updates and economic data.

Dow Jones Industrial average futures implied 0.46% gain. S&P 500 futures were 0.49% higher and Nasdaq 100 futures gained 0.69%.

Premover

Stocks making the biggest moves in the premarket: Coinbase, Dell Technologies, Bank of America & more

$Coinbase Global, Inc.(COIN.US)$ - Coinbase rose in premarket trading on the second day of its highly-anticipated debut, following news that three funds at Cathie Wood's Ark Investment Management bought shares of the biggest U.S. cryptocurrency exchange. The stock was up 9% in the premarket.

$Dell Technologies Inc.(DELL.US)$ - VMware to finally come into its own in Dell spinoff, but strategic cloud remains. Last year, the Wall Street Journal reported that Dell was actively considering its options for the strategic stake, including a tax-free spinoff of VMware shares. Those options also included buying VMware outright or selling its 81% stake, which would have incurred a significant tax burden. Now, that is finally taking place, with Dell shareholders reaping the biggest rewards. The stock was up 8.5% in the premarket.

$Bank of America Corporation(BAC.US)$ - Bank of America Corp's profit more than doubled in the first quarter and topped Wall Street estimates as it released reserves it had set aside to cover potential loan losses. The stock was up 1.1% in the premarket.

Top News

• Fed will begin reducing bond purchases 'Well Before' raising interest rates, Powell says
  

Federal Reserve Chairman Jerome Powell noted that most central-bank officials see interest rates remaining near zero through 2023.

• The dollar's sliding share in global currency reserves is a red herring
  

The greenback is at a 25-year low in official currency reserves, a figure that understates the currency's importance in a number of ways.

• Wall Street businesses power Goldman, JPMorgan to record earnings
  

Madcap markets and a blank-check boom kept bankers busy in the first quarter, and more deals are waiting in the wings.

• Bitcoin and Dogecoin prices soar to records as Coinbase lists
  

Prices surged to record highs as the coming listing of the largest U.S.-based cryptocurrency exchange propelled interest in digital assets.

• U.S. business activity picks up
  

The U.S. economy "accelerated to a moderate pace" from February to early April business reopenings and federal-stimulus funds boosted consumer spending, the Federal Reserve's Beige Book survey found.

• Senate confirms Gary Gensler as SEC chairman
  

Senators voted to approve Gary Gensler's nomination as SEC chairman, making him the most prominent financial regulator that President Biden has hired to date.