Stock futures rise as Wall Street tries to build on tech-led rally Live

Stock futures rose Friday as investors looked to build on the strong tech-led gains seen in the previous session. Futures linked to the S&P 500 gained 0.4%, while Dow Jones Industrial Average futures climbed 66 points, or 0.2%. Nasdaq 100 futures rose 0.7%. Stocks moved sharply higher Thursday, with the S&P 500 and Nasdaq erasing their 2024 losses. On a weekly basis, the Nasdaq is standing out with a 0.55% advance, while the Dow is down 0.33%. The S&P 500 is marginally lower by 0.06%. Thursday’s gains were powered by major advances in the technology sector, after Bank of America upgraded shares of Apple to a buy rating. Apple posted its biggest one-day gain since May 5, 2023. That move came even as the benchmark 10-year Treasury yield climbed. Traders will get a slew of earnings reports Friday, including Travelers, Regions Financial, Fifth Third, Ally Financial and State Street.”I think you’ll see the ten-year yield chopping around 4% or so and the market just going back and forth here until we get some better information from earnings season,” said Thomas Martin, senior portfolio manager at Globalt Investments. “That could persist for a good part of the year … and then you get the election, things get resolved, and people get more positive into the fourth quarter.”Wall Street also kept its eyes on Washington after Congress passed a bill to avert a partial government shutdown. This stopgap measure keeps the federal government funded through March 1 and March 8. The Senate voted 77-18 to pass the bill, while the House voted to move it forward, 314-108. The bill goes to President Joe Biden for signing. Shares of iRobot plunged about 40% after The Wall Street Journal reported that the European Commission would likely reject Amazon’s bid to acquire the Roomba manufacturer. The Journal cited people familiar with the matter. Correction: An earlier version incorrectly stated that European regulators said they would likely reject Amazon’s bid to acquire iRobot. Meta Platforms CEO Mark Zuckerberg indicated Thursday that the company is spending billions on Nvidia’s semiconductors to power the company’s artificial intelligence ambitions. Zuckerberg didn’t say how many chips it has already purchased, but noted the company’s AI infrastructure will include 350,000 H100 graphics cards from Nvidia. by year-end. Shares of both Nvidia and Meta were up more than 1% in the premarket. Morgan Stanley says it does not see the Bank of Japan exiting its negative interest rate regime at the central bank’s policy meeting next week.”As for the January monetary policy meeting, I think that removal [of negative interest rates] is currently off the table because of the earthquake,” Morgan Stanley’s chief Japan economist, Takeshi Yamaguchi told CNBC’s “Street Signs Asia.””This year’s wage negotiations will be pretty strong. Last year, the headline increase was around 3.6% 3.

All data is taken from the source: http://cnbc.com
Article Link: https://www.cnbc.com/2024/01/18/stock-market-today-live-updates.html

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On January 19, 2024 By Tristan Green

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