U.S. stock futures traded higher on Wednesday morning, following the first trading session after Inauguration Day. Investor sentiment was lifted by President Trump’s more cautious stance on trade policies. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.78%, 0.14%, and 0.38%, respectively, at 3:28 a.m. EST, January 22.
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In the previous session, the Dow Jones, the S&P 500, and the Nasdaq Composite (NDAQ) ended the day higher by 1.24%, 0.88%, and 0.64%, respectively. Despite the overall market strength, Apple (AAPL) was a notable underperformer, dropping more than 3% following two downgrades.
In key news, Trump announced a joint venture named “Stargate,” with OpenAI, Oracle (ORCL), and Softbank (SFTBY) to invest up to $500 billion in AI infrastructure in the United States in the next four years. Meanwhile, Netflix (NFLX) shares soared more than 13% after the streaming giant added a record 18.9 million new subscribers in the fourth quarter of 2024. Also, United Airlines (UAL) jumped in extended trading after the company reported EPS of $3.26, which beat analysts’ consensus estimate of $3.03 per share.
On the earnings front, investors will be looking at reports from companies such as Johnson & Johnson (JNJ), Procter & Gamble (PG), Abbott Laboratories (ABT), and Halliburton (HAL), which are scheduled to release their earnings today.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.585%. Simultaneously, WTI crude oil futures are trending lower, hovering near $75.47 per barrel as of the last check.
Elsewhere, European indices opened higher on Wednesday, maintaining the positive momentum observed in global markets since the start of the week.
Asia-Pacific Markets Traded Mixed on Wednesday
Most of the Asia-Pacific indices were mixed today, with Chinese stocks falling following President Donald Trump’s remarks about imposing a 10% tariff on China.
At the same time, Hong Kong’s Hang Seng Index was down 1.79%. Also, China’s Shenzhen Component index and Shanghai Composite index were down 0.77% and 0.89%, respectively. Meanwhile, Japan’s Nikkei and Topix indices gained 1.58% and 0.87%, respectively.
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