U.S. Index Futures on the Rise, Oil Prices Show Stability
26 Março 2024 - 8:21AM
IH Market News
U.S. index futures are showing an uptrend in pre-market trading
this Tuesday, with investors keen on driving a recovery that had
previously lifted stocks to their all-time highs, looking to
reverse the losses seen in the previous session.
At 06:19 AM, Dow Jones futures (DOWI:DJI) rose 103 points, or
0.26%. S&P 500 futures advanced 0.40%, and Nasdaq-100 futures
gained 0.50%. The 10-year Treasury bond yield was at 4.234%.
In the commodities market, West Texas Intermediate crude oil for
May rose 0.02% to $81.97 per barrel. Brent crude for May fell
0.03%, near $86.72 per barrel. Iron ore traded on the Dalian
exchange fell 3.72% to $112.84 per metric ton. The April benchmark
iron ore SZZFJ4 on the Singapore Exchange fell 4.34% to $103.85 a
ton.
On the economic agenda this Tuesday, the highlights include
February’s durable goods orders at 8:30 AM, by the Commerce
Department; the January S&P Case/Shiller index at 09 AM,
reflecting residential property prices; and at 10 AM, the March
consumer confidence index, by the Conference Board.
Asian markets had mixed movements, reflecting varied reactions
to sectoral and economic developments. In China, the Shanghai
Composite index saw a slight increase of +0.17%, driven by optimism
in the real estate sector and positive comments from the PBoC
chairman. In Hong Kong, the Hang Seng index grew +0.88%, benefited
by the performance of developers. In Japan, the Nikkei showed
stability (-0.04%), balancing advances in the semiconductor sector
with declines in banks and railways, highlighting the global
influence of the chip industry. South Korea’s Kospi index
appreciated +0.71%. On the other hand, Australia’s ASX 200 recorded
a drop of -0.41%.
European markets are experiencing uncertain movements as
investors reflect on the recent policy decisions made by central
banks in Europe and the United States last week.
At Monday’s close, the Dow Jones, S&P 500, and Nasdaq fell
0.41%, 0.31%, and 0.27%, respectively, impacted by weakness in the
technology sector, especially after reports on Chinese restrictions
on microprocessors. While Intel (NASDAQ:INTC) and
AMD (NASDAQ:AMD) faced significant declines,
sectors such as aviation and oil services showed positive
performance, contrasting with the overall market trend.
In terms of quarterly results, financial reports are scheduled
to be presented before market open by McCormick
(NYSE:MKC), TD Synnex Corp (NYSE:SNX),
Bragg Gaming Group (NASDAQ:BRAG), Terran
Orbital (NYSE:LLAP), VolitionRX Limited
(AMEX:VNRX), Luna Innovations (NASDAQ:LUNA),
GDS Holdings Ltd (NASDAQ:GDS), Douyu
International Holdings (NASDAQ:DOYU), Elbit
Systems (NASDAQ:ESLT), among others.
After the close, results from GameStop
(NYSE:GME), Noah Holdings (NYSE:NOAH),
Intrusion (NASDAQ:INTZ), Panbela
Therapeutics (NASDAQ:PBLA), Direct Digital
Holdings (NASDAQ:DRCT), Ouster
(NYSE:OUST), Progress Software Corporation
(NASDAQ:PRGS), Concentrix (NASDAQ:CNXC),
nCino Inc (NASDAQ:NCNO), Biora
Therapeutics (NASDAQ:BIOR), and more are awaited.
GameStop (NYSE:GME)
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