Last Updated 4:05PM EST
Stock indices finished today’s trading session mixed, as the S&P 500 (SPX) and the Dow Jones Industrial Average (DJIA) gained 0.16% and 0.03%, respectively. Meanwhile, the Nasdaq 100 (NDX) fell 0.37%.
The energy sector (XLE) was the session’s laggard, as it lost 0.64%. Conversely, the utilities sector (XLU) was the session’s leader, with a gain of 0.7%.
Furthermore, the U.S. 10-Year Treasury yield decreased to 4.25%, an eight basis points drop. Similarly, the Two-Year Treasury yield also fell, as it hovers around 4.69%.
First Published: 3:54AM EST
U.S. futures were flat on Friday early morning after yesterday’s strong trading session. The S&P 500 Index (SPX) recorded a new high and ended the full-day trading session in positive territory. Futures on the Nasdaq 100 (NDX) and S&P 500 were down about 0.11% and 0.01%, respectively, at 3.29 a.m. EST, February 23, while the Dow Jones Industrial Average (DJIA) rose by 0.03%.
All three major indices — the Nasdaq 100, the S&P 500, and the Dow Jones — closed higher on Thursday and are headed to end the trading week in the green. The rally was fueled by positive market sentiment towards artificial intelligence stocks due to Nvidia’s (NVDA) impressive earnings report.
According to Andrew Tyler, head of U.S. Market Intelligence at J.P. Morgan, the release of upbeat results by NVDA might overshadow concerns about Federal Reserve interest rate cuts. Furthermore, Tyler acknowledges potential short-term volatility, likely driven by month-end seasonality, but remains confident about the U.S. macroeconomic environment.
Meanwhile, the U.S. 10-year treasury yield is up, floating near 4.34% at the time of writing. However, the WTI crude oil futures are down, hovering near $78.18 per barrel as of the last check, as investors continue to evaluate interest rate scenarios and demand uncertainties.
Turning to key corporate earnings, Warner Bros. Discovery (WBD) and Bloomin’ Brands (BLMN) are scheduled to report quarterly results later today. There are no major economic reports due for release on Friday.
Elsewhere, European markets opened higher on Friday as investors awaited the release of earnings reports from some of the major companies, including Allianz SE (DE:ALV) and Standard Chartered (GB:STAN), among others. Also, traders look ahead to Germany’s fourth-quarter gross domestic product data due today.
Asia-Pacific Markets End Higher on Friday
Most of the Asia-Pacific indices ended in green today. Sentiments in Chinese markets remain positive as the central bank’s monetary easing policies continue to boost investor confidence.
China’s Shanghai Composite and Shenzhen Component indices ended up by 0.55% and 0.28%, respectively. Additionally, Japan’s Nikkei and Topix indices finished higher by 2.19% and 1.27%, respectively. However, Hong Kong’s Hang Seng index trended lower by 0.1%.
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