U.S. Futures Pause Post-Nvidia Rally; WTI and Brent Decline in April Futures
23 Fevereiro 2024 - 10:04AM
IH Market News
In the pre-market on Friday, U.S. index futures showed a
moderate trend, reflecting a pause after the euphoria outbreak in
the market caused by Nvidia’s rally. This event led American
exchanges to climb to new heights, setting historical marks.
At 05:34 AM, Dow Jones futures (DOWI:DJI) rose 3 points, or
0.01%. S&P 500 futures dropped 0.03%, and Nasdaq-100 futures
fell back by 0.18%. The yield on 10-year Treasury notes was at
4.345%.
In the commodities market, West Texas Intermediate crude oil for
April fell by 1.22%, to $77.63 per barrel. Brent crude for April
dropped 1.09%, near $82.76 per barrel. Iron ore traded on the
Dalian exchange rose by 0.45%, to $124.89 per metric ton. The
benchmark iron ore for March on the Singapore Exchange went up by
0.43%, to $120.2 a ton.
During Thursday’s trading in the United States, the Dow Jones
and S&P 500 reached new closing highs, reflecting widespread
optimism driven by positive results from Nvidia
(NASDAQ:NVDA), which exceeded fourth-quarter earnings expectations.
The strong demand for Nvidia’s AI chips contributed to this rally,
while the Nasdaq nearly beat its previous record. Moreover, an
unexpected drop in unemployment insurance claims and an increase in
existing home sales bolstered market sentiment. The Dow Jones
closed up 456.87 points or 1.18% at 39,069.11 points. The S&P
500 advanced 105.23 points or 2.11% to 5,087.03 points. The Nasdaq
soared 460.75 points or 2.96% to 16,041.62 points.
Asian exchanges mostly advanced on Friday, with Japan’s Nikkei
standing out by rising 2.19%, driven by Nvidia’s rally on Wall
Street and economic support from Beijing. Although Hong Kong’s Hang
Seng recorded a slight decline of 0.10%, indices in China, South
Korea, and Australia showed modest gains, reflecting regional
optimism fueled by AI innovations and favorable government
policies.
European markets followed the upward trajectory, capitalizing on
the momentum generated by the record closing of the pan-European
index in the previous session, which reached 495.1, surpassing the
previous milestone. This optimism comes even in the face of
economic challenges, such as the drop in consumer confidence in the
UK due to persistent inflation, which threatens economic recovery.
Investors also paid attention to the financial results of giants
such as Allianz (TG:ALV), BASF
(TG:BASF), and Standard Chartered (LSE:STAN),
looking for signs of corporate health and overall economic trends
in the region.
On the quarterly earnings front for Friday, scheduled to present
financial reports are Warner Bros. Discovery
(NASDAQ:WBD), Bloomin’ Brands (NASDAQ:BLMN),
Lamar Advertising Company
(NASDAQ:LAMR), Northwest Natural Gas (NYSE:NWN),
Diana Shipping Inc. (NYSE:DSX),
Docebo (NASDAQ:DCBO), AerCap
(NYSE:AER), Sunstone Hotel
Invertors (NYSE:SHO), Gray Television
(NYSE:GTN), Frontier Communications (NASDAQ:FYBR),
among others.
Allianz (TG:ALV)
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