In Friday’s early trading, Dow Jones futures showed minimal movement, mirroring the stability seen in S&P 500 futures and Nasdaq futures.
As the trading day commenced on Friday, there was little change observed in Dow Jones futures, reflecting a similar trend in S&P 500 futures and Nasdaq futures.
On Wednesday, the stock market rally surged ahead following a PCE inflation report that did not meet the dire expectations. Both the S&P 500 and Nasdaq reached new all-time closing highs, with the Russell 2000 briefly touching a 52-week high, marking an extension of its strong weekly gains.
Advanced Micro Devices (AMD), a competitor of Nvidia (NVDA), experienced a breakout from a short consolidation phase. Additionally, Airbnb (ABNB) and Lennar (LEN) reclaimed their buy points.
Following Thursday’s market close, several companies including Dell Technologies (DELL), NetApp (NTAP), Elastic (ESTC), Zscaler (ZS), Veeva Systems (VEEV), Autodesk (ADSK), and SoundHound AI (SOUN) reported their earnings.
Dell and NetApp emerged as significant winners in overnight trading, with the latter poised for a breakout. Autodesk also saw gains later in the trading session. However, ESTC and SoundHound experienced declines, while Zscaler and Veeva retreated after their respective earnings reports.
In early trading, Dow Jones futures dipped slightly compared to fair value, while S&P 500 futures remained unchanged. Nasdaq 100 futures, however, saw a modest 0.1% increase.
Meanwhile, crude oil futures surged over 1%, crossing the $79 per barrel mark.
The 10-year Treasury yield saw a slight uptick, reaching 4.26%.
Overnight, China’s official manufacturing index for February decreased by 0.1 point to 49.1, aligning with expectations and staying below the neutral 50 level. On the other hand, Caixin’s China manufacturing index inched up by 0.1 point to 50.9.
It’s important to note that movements in Dow futures and other markets overnight may not necessarily reflect actual trading activity in the upcoming regular stock market session.