Pre-Market Optimism as Investors Eye Weekly Gains; Dip in Crude Oil Prices
15 Março 2024 - 8:32AM
IH Market News
U.S. index futures are trading higher in pre-market on Friday,
following a previous session that ended lower, as the market
reassesses expectations for Federal Reserve interest rate cuts in
light of recent inflation data. Investors await further economic
indicators, maintaining optimism for a slightly positive weekly
close in the major indexes.
At 07:05 AM, the Dow Jones futures (DOWI:DJI)
were up 48 points, or 0.12%. S&P 500 futures
advanced 0.19%, and Nasdaq-100 futures gained
0.18%. The yield on 10-year Treasury notes was at 4.277%.
In the commodities market, West Texas Intermediate crude oil for
April fell 0.44% to $80.89 per barrel. Brent crude oil for May
dropped 0.46% to around $85.03 per barrel. Iron ore traded on the
Dalian exchange fell 3.46% to $108.59 per metric ton.
Friday’s economic agenda kicks off with the release of
February’s import and export prices at 8:30 AM by the Department of
Labor. Concurrently, the Empire State manufacturing activity index
for March will be released, also at 8:30 AM, by the New York
Federal Reserve. At 09:15 AM, the focus shifts to February’s
industrial production and capacity utilization data, which will be
published by the Federal Reserve. Concluding the series of economic
reports, at 10:00 AM will be the time for the preliminary reading
of the March consumer sentiment index.
The Asia-Pacific stock markets closed mixed, influenced by the
latest U.S. inflation data and monetary policy decisions in China.
While most indexes fell due to reduced expectations for aggressive
U.S. interest rate cuts, the Chinese markets stood out positively
(+0.54%), driven by technology and automotive stocks. Additionally,
the Chinese regulator promised increased market supervision, and
the central bank maintained its medium-term lending rate,
indicating interest rate policy stability.
European markets are slightly higher on Friday morning, despite
concerns brought by recent U.S. inflation data. In the pan-European
Stoxx 600, the automotive and telecommunications sectors lead the
gains while domestic goods stocks declined. Shares of
Vonovia (TG:VNA) are a negative highlight after
the company announced a record annual loss, reflecting challenges
faced by the real estate sector in Germany.
On Thursday, U.S. stock markets opened without a clear direction
but soon succumbed to selling pressure, closing in the red despite
an attempt at a recovery towards the end of the day. Concerns
intensified after the release of a producer price report that
exceeded expectations, fueling fears about the Federal Reserve’s
future policy. Anxiety rose with the approach of the central bank’s
next meeting, keeping investors on alert. The Dow
Jones, S&P 500, and
Nasdaq closed down 0.35%, 0.29%, and 0.30%,
respectively.
For quarterly earnings, scheduled to present financial reports
today are Jabil (NYSE:JBL),
Embraer (NYSE:ERJ), Soho House
(NYSE:SHCO), Townsquare Media (NYSE:TSQ),
Telos Corp (NASDAQ:TLS), among others.
Soho House (NYSE:SHCO)
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Soho House (NYSE:SHCO)
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