Nasdaq Futures Surge As TSMC Sets Positive Tone To Tech Earnings Season: Analyst Cautions New Bull Market Needs ‘Heavier Lifting’
From Nasdaq:
– U.S. stocks may open Thursday’s session mostly higher, provided a boost for tech stocks with its optimistic first-quarter forecast, and a pullback in bond yields could serve as a catalyst for further upside. Economic data on jobless claims, regional manufacturing activity, and housing starts are anticipated to influence trading.
– Rate concerns subdued sentiment on Wednesday, with major averages ultimately closing lower despite mixed performances. The Nasdaq Composite and the S&P 500 Index suffered losses of 0.59% and 0.56%, respectively. Analysts mentioned the lofty investor expectations with little margin for error, expecting potential risk due to tighter financial conditions and unmet earnings targets.
– In premarket trading on Thursday, the SPDR S&P 500 ETF Trust rose 0.38% to $474.09, with the Invesco QQQ ETF gaining 0.75% to $410.25. Economic data releases are anticipated throughout the day, with key reports from the Labor Department, Commerce Department, and the Philadelphia Federal Reserve. Additionally, several companies are set to report their quarterly financial results, likely impacting trading.
– Crude oil futures rose 0.28% to $72.68 in early European session on Thursday, and the benchmark 10-year Treasury note fell 0.012 percentage points to 4.09% on Thursday. The Asian markets ended mixed, as China and Hong Kong rebounded from the previous session’s losses, while most other markets fretted about weak Wall Street cues. European stocks traded solidly higher in late-morning trading.
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