U.S. stock futures traded slightly higher on Friday morning, following a weak trading session on Thursday. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.18%, 0.18%, and 0.17%, respectively, at 3:23 a.m. EST, January 17.
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In the previous session, the Dow Jones, the S&P 500, and the Nasdaq Composite ended the day lower by 0.16%, 0.21%, and 0.89% respectively. The technology stocks led the downturn, with Tesla (TSLA), Nvidia (NVDA), and Apple (AAPL) declining 3.4%, 2%, and 4%, respectively. Despite the recent volatility, all three major indices are still on track for positive weekly returns.
In major stock market news, AAPL stock declined 4% yesterday due to reports that iPhone sales in China remained weak in 2024. Also, Bank of America (BAC) was down 1% despite reporting better-than-expected Q4 results. However, Morgan Stanley (MS) rose 4% following the release of upbeat fourth-quarter results.
Looking ahead, investors will be closely watching key economic data releases, including Building Permits and Housing Starts for December. In addition, several companies such as Schlumberger (SLB), TFC Financial (TFC), and State Street (STT) are slated to release their quarterly numbers today.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.595%. Simultaneously, WTI crude oil futures are trending higher, hovering near $79.32 per barrel as of the last check.
Elsewhere, European indices opened higher on Friday as investors looked forward to Donald Trump’s inauguration as U.S. President on January 20.
Asia-Pacific Markets Traded Mixed on Friday
Most of the Asia-Pacific indices were mixed today as investors assessed several economic releases from China. The country’s better-than-expected GDP data and Retail Sales data points helped lift investor sentiment.
At the same time, Hong Kong’s Hang Seng Index was up 0.27%. Also, China’s Shanghai Composite and Shenzhen Component indices gained 0.18% and 0.6%, respectively. However, Japan’s Nikkei and Topix indices declined 0.31% and 0.33%, respectively.
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