Market seesaw mood continues as reliance on Federal Reserve data creates volatility. Index futures show solid gains on Thursday, signaling a reversal of sentiment seen in the previous session.
Clues from Wednesday’s trade:
Stocks reversed course on Thursday following the Fed’s hawkish speech and a technology pullback. Alphabet Inc. Google googremoved the wind from the market sails.
Related item: best futures trading software
The key averages fell, dropping steadily in the morning before adjusting around lower levels for the rest of the session.
The telecom services sector accounts for around 10% weight. S&P500 Index, plunged 4.13%, trailed by Alphabet. Technology, utility and materials stocks were also put up for sale.
index | Performance (+/-) | worth | |
---|---|---|---|
NASDAQ Composite | -1.68% | 11,910.52 | |
S&P500 Index | -1.11% | 4,117.86 | |
dow industrials | -0.61% | 33,949.01 |
Analyst Color:
Fund managers said Wednesday’s market decline reflected investors reconsidering their prospects for higher interest rates over the longer term after a solid year-to-date rally. Louis Naberier.
“As the market continues to accept the Fed going higher for longer, we expect higher value stocks to have a harder time pulling back, but companies with reasonable valuations and solid earnings and prospects will continue to be buyers. you should find,” he added. .
LPL Financial Chief Global Strategist Quincy Crosby It accounts for about 21% of the S&P 500 index, suggesting it is likely to have a significant impact on the broader market.
Analysts said that even though cost-cutting measures have helped, investors are seeking innovation that drives their daily lives, both professionally and personally.
“Right now, innovation will become increasingly important as interest rates have not yet met the sector’s need for lower interest rates,” Crosby said.
“As artificial intelligence (AI) becomes more and more sophisticated, this could be the catalyst to take the field to the next level,” he added.
futures today
index | Performance (+/-) | |
---|---|---|
NASDAQ 100 Futures | +1.19% | |
S&P500 Futures | +0.80% | |
dow futures | +0.65% | |
R2K Futures | +0.61% |
In Thursday’s premarket trading, SPDR S&P 500 ETF Trust spy rose 0.84% to $414.10, Invesco QQQ Trust QQQ According to Benzinga Pro data, it rose 1.21% to $308.04.
Upcoming economic data:
The Department of Labor will release its weekly unemployment claims report for the week ended on February 4 at 8:30 am EST. On average, economists expect the number of individuals claiming unemployment benefits to reach 190,000, up from 183,000 the week before.
The Treasury will auction the 4-week and 8-week notes at 11:30 am ET and the 30-year note at 1:00 pm ET.
Stocks to watch:
- walt disney company DIS It rose more than 6.50% in premarket trading after the release of better-than-expected Q1 results.
- MGM Resorts International MGM increased by more than 6%, Wynn Resorts Limited win was up about 6%, again in response to the earnings report.
- toy shop Mattel Co., Ltd. mat After reporting disappointing Q4 results, it plunged about 10%.
- Robinhood Markets Inc. hood Despite the shortfall in both earnings and earnings per share, it was up more than 6%.
- AbbVie Inc. ABBV, AstraZeneca AZN, PepsiCo. PEPs, Warner Music Group Corporation WMGMore, Kellogg’s K. and Philip Morris International, Inc. afternoon is one of the leading companies to report before the market opens.
- Notable companies reported post-closing include: Lift Co., Ltd. lift, Motorola Solutions, Inc. MSI, PayPal Holdings Inc. PYPL and news company NWSA NWS.
Call of Top Analysts
- Uber Technologies uber: Raymond James maintains Outperform rating, raises price target from $38 to $41
- Yum Brands Co., Ltd. Yum: Cowen repeats outperform rating
- Affirm Holdings Co., Ltd. AFRMMore: RBC Capital Downgraded from Outperform to Sector Performing
Commodities, bonds and other global stock markets:
Crude oil futures rose for the fourth time in a row, rising about 0.41% to $78.78 a barrel on Thursday. Meanwhile, benchmark 10-year government bond yields fell below 3.6%.
Most Asia-Pacific markets closed Thursday’s session lower, trailing a negative lead from Wall Street overnight. Markets in China and Hong Kong bucked the downtrend with notable gains, boosted by the restart of the Chinese economy. Did.
European stocks rallied on Thursday, trading with notable gains in early morning trading.
Read the following: Jamie Dimon warns against declaring early victory over inflation — says US debt default would be potentially ‘catastrophic’