U.S. Index Futures Dip Ahead of Key Earnings Reports, Oil Prices Climb
07 Fevereiro 2024 - 8:17AM
IH Market News
In Wednesday’s pre-market, U.S. index futures show a negative
trend, reflecting investor uncertainty as they await a new round of
quarterly reports from renowned companies.
At 5:49 AM, Dow Jones futures (DOWI:DJI) fell 38 points, or
0.10%. S&P 500 futures dropped 0.07%, and Nasdaq-100 futures
were stable. The 10-year Treasury bond yield was at 4.121%.
In the commodities market, West Texas Intermediate crude oil for
March rose 0.67%, to $73.80 per barrel. Brent crude for April
increased by 0.61%, to around $79.07 per barrel. Iron ore with a
62% concentration, traded on the Dalian exchange, rose 1.12%, to
$132.75 per ton.
In today’s US economic agenda, investors await the 7:30 AM
release of the Trade Balance data for December. The LSEG consensus
anticipates a $62.2 billion deficit in this indicator. Later, at
10:30 AM, the weekly report on oil inventories will be announced.
According to LSEG projections, an increase of 2.133 million barrels
is expected.
Asian markets closed mixed today, with Chinese exchanges
continuing to rise in response to measures taken by Beijing to stem
losses in local markets. Yesterday, a major investment fund and
China’s securities regulator intervened to stabilize the country’s
exchanges, which were suffering from concerns about economic
recovery. Meanwhile, the Shanghai SE (China) rose 1.44%, the Nikkei
(Japan) fell 0.11%, the Hang Seng Index (Hong Kong) retreated
0.34%, the Kospi (South Korea) advanced 1.30%, and the ASX 200
(Australia) gained 0.45%.
European markets are currently operating without a clear
direction, reflecting the ongoing uncertainty surrounding the
possibility of interest rate cuts. This uncertainty was sparked by
comments from the US Federal Reserve Chairman, Jerome Powell, last
week, suggesting that investors may need to wait longer than
initially expected for changes in central bank interest rate
policy. The UK’s FTSE 100 and Germany’s DAX are recording slight
declines. Meanwhile, France’s CAC 40 and Italy’s FTSE MIB are
posting modest gains. The STOXX 600 index, which encompasses a
broad range of European companies, is experiencing a slight
decline.
On Tuesday, US markets closed slightly higher. The Dow Jones
increased by 0.37%, the S&P 500 by 0.23%, and the Nasdaq by
0.07%. Concerns about a possible interest rate cut in March
diminished, while companies such as Palantir
(NYSE:PLTR) and Spotify (NYSE:SPOT) had notable
performances. The airline sector recovered, and semiconductor
stocks fell.
For Wednesday’s quarterly results, financial reports are
scheduled to be presented by Alibaba Group
(NYSE:BABA), Uber (NYSE:UBER), CVS
Health (NYSE:CVS), Roblox (NYSE:RBLX),
Hilton (NYSE:HLT), Yum! Brands
(NYSE:YUM), among others, before the market opens.
After the close, numbers from PayPal
(NASDAQ:PYPL), Walt Disney (NYSE:DIS),
Arm (NASDAQ:ARM), Wynn Resorts
(NASDAQ:WYNN), Mattel (NASDAQ:MAT),
McKesson (NYSE:MCK), Confluent
(NASDAQ:CFLT), and more are awaited.
ARM (NASDAQ:ARM)
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