From Nasdaq:

Stock index futures are moderately lower this morning, recovering from Tuesday’s slump. The decline in T-note yields and positive corporate news, including Lyft and Progressive Corp, are bullish for stocks. U.S. MBA mortgage applications fell by -2.3% in the week ended Feb 9. European government bond yields are also lower. Overseas stock markets are mixed, with Japan’s Nikkei Stock Index posting moderate losses.

The Euro Stoxx 50 is moderately higher today with strength in bank stocks and positive economic news about Eurozone Dec industrial production rising unexpectedly. However, Heineken NV fell after warning about inflation and economic worries affecting demand this year. ECB Vice President Guindos stated that it will take some time before inflation returns to the 2% target.

China’s Shanghai Composite Index is closed for the week-long Lunar New Year holiday, while Japan’s Nikkei Stock Index posted moderate losses due to U.S. Jan CPI rising more than expected and a rise in government bond yields. The yen also rose due to officials’ warnings about the yen’s decline. Swaps are pricing in chances for a rate increase by the BOJ at 35% for its next meeting on March 19 and 73% for the following meeting on April 26.

In pre-market trading, Lyft surged by more than +20%, and Uber Technologies climbed more than +6% after unveiling a stock buyback plan. IQVIA Holdings rallied more than +5%, and Progressive Corp rose more than +2%. Cryptocurrency-linked stocks also rose, with Coinbase Global, Marathon Digital, MicroStrategy, and Riot Platforms up more than +6%. However, Generac Holdings dropped by more than -7%, and Upstart Holdings sank by more than -17%.

Earnings reports for various companies were released on February 14, 2024, including Cisco Systems, CME Group, Equinix, Generac Holdings, Kraft Heinz, TripAdvisor, and many others. The views and opinions expressed in the article are solely for informational purposes and do not necessarily reflect those of Nasdaq, Inc.



Read more: Markets Today: Stocks Rebound from Tuesday’s Slump as Bond Yields Decline