U.S. Index Futures Dip Amid Inflation Data Anticipation, Oil and Iron Ore Prices Retreat
26 Fevereiro 2024 - 7:57AM
IH Market News
On Monday, U.S. index futures fell slightly, signaling investor
tension as they await new inflation data this week, closely
monitored by the Federal Reserve, and keep an eye on the wave of
significant earnings reports approaching, including
Salesforce (NYSE:CRM), restaurants, and major
retailers.
At 05:22 AM, Dow Jones futures (DOWI:DJI) fell 55 points, or
0.15%. S&P 500 futures dropped by 0.08%, and Nasdaq-100 futures
retreated by 0.03%. The yield on 10-year Treasury bonds was at
4.244%.
In the commodities market, West Texas Intermediate crude oil for
April fell 0.48%, to $76.12 a barrel. Brent crude for April dropped
0.53%, near $81.19 a barrel. Iron ore traded on the Dalian exchange
fell 3.21%, to $121.56 per metric ton. Iron ore in China also
closed lower, impacted by increased stocks in the largest consumer
and by a slowdown in construction activity caused by adverse
weather conditions, which intensified uncertainties about
demand.
Asian markets showed a mix of results, with Japan’s Nikkei 225
index reaching new highs, while China saw the end of a streak of
gains. The Nikkei rose 0.4%, marking a record above the 1989
historical peak. In contrast, China’s CSI 300 index fell 1.04%.
Measures in South Korea to improve corporate governance had little
effect on the Kospi, which fell 0.8%. Investors remain attentive to
upcoming economic data, while Hong Kong’s Hang Seng index recorded
a drop of -0.5%. Australia’s ASX 200 rose 0.1%.
European markets started the week on a negative trend,
reflecting investor caution as they await new inflation data. The
Stoxx 600 registered a slight decline, after reaching a record the
previous week. The performance of sectors varied, with a notable
drop in the mining sector, while the retail sector recorded a
modest increase. The anticipation around the U.S. personal
consumption expenditures price index, a key inflation indicator,
adds a layer of anticipation to the market.
U.S. stocks followed Thursday’s rise but had a modest
performance on Friday, with the Dow and S&P 500 hitting
records. The movement reflected optimism about
Nvidia (NASDAQ:NVDA), but the euphoria cooled,
keeping the market cautious. Gold rose, while semiconductors and
airlines fell, anticipating significant economic reports next
week.
For Monday’s quarterly earnings front, companies scheduled to
present financial reports before the market opens include
Li Auto (NASDAQ:LI), Domino’s
Pizza (NYSE:DPZ), Krystal (NASDAQ:KRYS),
Freshpet (NASDAQ:FRPT), Elanco Animal
Health (NYSE:ELAN), BioCryst
Pharmaceuticals (NASDAQ:BCRX), among others.
After the market closes, investors await the results from
Unity (NYSE:U), Zoom Video
Communications (NASDAQ:ZM), Workday
(NASDAQ:WDAY), Hims & Hers (NYSE:HIMS),
iRobot (NASDAQ:IRBT), Oneok
(NYSE:OKE), CarGurus (NASDAQ:CARG),
Heico (NYSE:HEI), TransMedics
(NASDAQ:TMDX), and more.
Dominos Pizza (NYSE:DPZ)
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