U.S. Futures Display Volatility Amid Economic Data Anticipation, Oil Prices Decline
16 Fevereiro 2024 - 8:09AM
IH Market News
On Friday morning, U.S. index futures showed volatility,
reflecting the uncertainty of investors who seek to maintain the
positive momentum of the market observed in the previous session,
while they eagerly await the publication of the Producer Price
Index (PPI) data.
At 05:37 AM, the futures of the Dow Jones (DOWI:DJI) fell by 33
points, or 0.08%. The S&P 500 futures rose by 0.22%, and the
Nasdaq-100 futures increased by 0.59%. The yield rate of the
10-year Treasury bonds was at 4.267%.
In the commodities market, the West Texas Intermediate crude oil
for March fell by 0.81%, to $77.40 per barrel. The Brent crude oil
for April dropped by 0.97%, close to $82.05 per barrel.
The economic agenda of the United States for Friday starts at
08:30 AM with the release of the Producer Prices for January, where
the consensus of LSEG forecasts an increase of 0.1% on a monthly
basis and 0.6% on an annual basis. Also at 08:30 AM, the numbers on
Housing Starts for January will be revealed. Next, at 10:00 AM, the
Consumer Confidence index for February will be announced.
On Thursday, US stocks started undecided, but grew during the
day, driven by the S&P 500 reaching a new record closing. The
renewed optimism about interest rates followed a report of a drop
in retail sales in January, while industrial production fell and
unemployment benefit claims unexpectedly decreased. Gold and oil
rose, boosting the corresponding sectors, while strength spread to
stocks of computer hardware, steel, banks, and commercial real
estate. The Dow Jones closed up by 348.85 points or 0.91% at
38,773.12 points. The S&P 500 rose by 29.11 points or 0.58% to
5,029.73 points. The Nasdaq advanced by 47.03 points or 0.30% to
15,906.17 points.
The Asian markets mostly closed higher on Friday, driven by the
positive performance of Wall Street for the second consecutive day.
The Hong Kong Hang Seng index led the gains with a jump of 2.48%,
while the Japanese Nikkei approached a new all-time high,
registering an increase of 0.86%. The South Korean Kospi also
showed significant growth, rising by 1.34%, while the Australian
ASX 200 had a more moderate gain of 0.69%. However, the Shanghai
market remained closed due to a holiday.
The European markets are operating higher, registering their
third positive session in a row. Investors are reacting positively
to retail sales in the United Kingdom, which exceeded expectations,
indicating an encouraging sign for the economy. Sales increased by
3.4% compared to the previous month, exceeding forecasts, marking
the biggest monthly increase since April 2021, after a record
decline in December.
On the front of quarterly earnings for Friday, scheduled to
present financial reports are Arbor (NYSE:ABR),
AdvanSix (NYSE:ASIX), Air Canada
(USOTC:ACDVF), Cinemark (NYSE:CNK),
Liberty Broadband (NASDAQ:LBRDA),
TreeHouse (NYSE:THS), TC Energy
(NYSE:TRP), Healthcare Realty (NYSE:HR),
Vulcan Materials (NYSE:VMC), Portland
General Electric (NYSE:POR), among others.
Air Canada (QX) (USOTC:ACDVF)
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