U.S. Index Futures Climb Pre-Market as Tech Earnings, Fed Meeting Loom
29 Julho 2024 - 7:25AM
IH Market News
U.S. index futures point to a higher open in pre-market trading
on Monday. This week will feature quarterly results from tech
giants including Microsoft (NASDAQ:MSFT),
Meta (NASDAQ:META), Apple
(NASDAQ:AAPL), and Amazon (NASDAQ:AMZN), along
with the anticipated Federal Reserve meeting on Wednesday.
Economists indicate a 96% chance that the central bank will keep
interest rates unchanged at this meeting, according to the CME Fed
Watch tool.
At 05:37 AM, Dow Jones futures (DOWI:DJI) rose 98 points, or
0.24%. S&P 500 futures gained 0.26%, and Nasdaq-100 futures
advanced 0.43%. The 10-year Treasury yield stood at 4.166%.
In the commodities market, West Texas Intermediate crude for
September fell 0.31% to $76.92 per barrel. Brent crude for
September fell 0.27% to $80.91 per barrel.
Asia-Pacific markets advanced. Japan’s Nikkei 225 rose 2.13%,
ending an eight-day losing streak. The Japanese yen appreciated
0.31% against the dollar, trading at 153.26. Mitsubishi
Motors gained over 5% after joining the Honda-Nissan
alliance, while Eisai shares fell 13% due to the
rejection of its Alzheimer’s treatment.
Hong Kong’s Hang Seng advanced 1.28%, while South Korea’s Kospi
and Kosdaq increased 1.23% and 1.31%, respectively. The S&P/ASX
200 gained 0.86%. The Shanghai Composite rose 0.03%, pressured by
real estate stocks.
In Asia’s economic agenda, notable events include the Bank of
Japan’s monetary policy meeting, which could result in a 10 to 15
basis points increase in interest rates. Additionally, China’s July
PMI and Australia’s latest inflation data will be released ahead of
the Australian central bank’s policy meeting on August 6.
European markets show mixed variations, with the FTSE 100 and
DAX rising, while the CAC 40 fell. The utilities sector performed
well, while the household goods sector declined. Among individual
stocks, Philips (EU:PHIA) shares rose 11.2% after
strong earnings, while Heineken (EU:HEIA) fell
7.3% due to disappointing results. Reckitt
Benckiser (LSE:RKT) shares fell 9.3% following a $500
million verdict against Abbott (LSE:0Q15) related
to infant formula. As the earnings season progresses in Europe,
investors are monitoring Federal Reserve and Bank of England
meetings for indications on future interest rate adjustments.
U.S. stocks rose sharply on Friday, with the Nasdaq and S&P
500 rebounding from their lowest levels in over a month. The Dow
Jones rose 1.64%, the S&P 500 advanced 1.11%, and the Nasdaq
increased 1.03%. The strength came from inflation data boosting
confidence about the Federal Reserve’s interest rate decision in
September.
The personal consumption expenditures (PCE) price index rose
0.1% in June, as expected. The annual growth rate slowed to 2.5%
from 2.6%. The core PCE rose 0.2%, with the annual rate steady at
2.6%. Personal income increased 0.3% while personal spending rose
0.4%, both in line with estimates.
In Monday’s quarterly earnings reports before the market opens,
McDonald’s (NYSE:MCD), On
semiconductor (NASDAQ:ON), Philips (NYSE:PHG), Bank
of Marin (NASDAQ:BMRC), Hope
Bancorp (NASDAQ:HOPE), Affiliated
Managers Group (NYSE:AMG), CNA Financial
Corporation (NYSE:CNA), Oil States
International (NYSE:OIS), Provident
Financial
Holdings (NASDAQ:PROV), Civista
Bancshares (NASDAQ:CIVB), and more will report.
After the market closes, results from Tilray
Brands (NASDAQ:TLRY), Sprouts Farmers
Market (NASDAQ:SFM), Symbotic (NASDAQ:SYM), F5 (NASDAQ:FFIV), Lattice
Semiconductor (NASDAQ:LSCC), Chesepeake
Energy (NASDAQ:CHK), Element
Solutions (NYSE:ESI), Rambus (NASDAQ:RMBS), SBA
Communications
Corporation (NASDAQ:SBAC), Beyond
Inc (NYSE:BYON), and others are expected.
Oil States (NYSE:OIS)
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