Markets Today: Stock Index Futures Add to Record Highs on U.S. Economic Optimism
From Nasdaq:
Stock index futures are higher today, with S&P 500 and Nasdaq 100 futures at new all-time highs. Most Q4 corporate earnings results have surpassed estimates so far, pushing the market up. However, some companies like Archer-Daniels-Midland and B Riley Financial are facing issues, causing their stocks to plunge.
Government bond yields in the US and Europe are down, with stock markets across the globe showing mixed results. M&A activity is boosting European stocks, with France’s retail sales volume declining. The swap markets are pricing in the likelihood of a rate cut by the ECB at their upcoming meetings.
Chinese stock markets are in trouble, with banks keeping benchmark lending rates unchanged, and various sectors experiencing a decline. Japanese stocks, on the other hand, are rallying to a nearly 34-year high.
In pre-market trading, Super Micro Computer, Zscaler, Macy’s, SentinelOne, Ionis Pharmaceuticals, and other stocks are showing significant movement. However, companies like Archer-Daniels-Midland and B Riley Financial are experiencing a decline. U.S.-listed Chinese stocks are also falling, along with Vita Coco.
Earnings reports for today include AGNC Investment Corp, Brown & Brown Inc, United Airlines Holdings Inc, and Zions Bancorp NA.
Read more: Markets Today: Stock Index Futures Add to Record Highs on U.S. Economic Optimism