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U.S. Index Futures Edge Higher, Oil Prices Show Modest Movements

Fernanda T
Latest News
February 09 2024 12:59AM

In the pre-market on Friday, U.S. index futures are slightly up, after the S&P 500 closed just under 3 points below the key threshold of 5,000 the day before.

At 05:32 AM, the futures of the Dow Jones (DOWI:DJI) rose 6 points, or 0.02%. The S&P 500 futures rose 0.10% to 5,023.00 points, and the Nasdaq-100 futures rose 0.27%. The yield rate of the 10-year Treasury bonds was at 4.168%.

In the commodities market, the West Texas Intermediate crude oil for March rose 0.14%, to $76.33 per barrel. Brent crude for April fell 0.05%, close to $81.59 per barrel. The iron ore with a concentration of 62%, traded on the Dalian exchange, rose 2.39%, to $135.27 per metric ton.

At Thursday’s close, US stocks showed modest performance, with the S&P 500 and the Dow reaching new closing highs, but with volatility. The S&P 500 reached an intraday peak slightly above 5,000 at the end of the day, but retreated to close at 4,997.91 points, just below what could prove to be a key psychological level for the broad market index. The Dow Jones closed up 0.13%, to 38,726.33 points. The Nasdaq rose 0.24%, to 15,793.71 points. Highlights included the significant appreciation of the shares of Arm Holdings (NASDAQ:ARM) and Disney (NYSE:DIS), contrasting with the decline of PayPal (NASDAQ:PYPL).

The Asian and Pacific markets ended slightly higher on Friday, following the modest gains on Wall Street. Several markets in the region remained closed due to holidays, including Hang Seng Index (Hong Kong), Kospi (South Korea), and ASX 200 (Australia). China’s Shanghai SE closed up +1.28% and Japan’s Nikkei rose +0.09%.

The European markets are mostly in positive territory on Friday except for France’s CAC 40, as investors digest recent corporate results and economic indicators. Inflation in Germany decreased to 3.1% in January, while Italy is about to release its industrial production data at the end of the session.

On the front of Thursday’s quarterly earnings, scheduled to present financial reports are PepsiCo (NASDAQ:PEP), Canopy Growth (NASDAQ:CGC), Enbridge (NYSE:ENB), AMC Networks (NASDAQ:AMCX), Blue Owl (NYSE:OWL), Proto Labs (NYSE:PRLB), Telus International (NYSE:TIXT), among others.