U.S. stock futures were mostly higher on Friday morning with the major Wall Street indices on track to close the week in positive territory. Futures on the Dow Jones Industrial Average (DJIA) and the S&P 500 (SPX) were up 0.12% and 0.07%, respectively, at 3:20 a.m. EST, November 22, while the Nasdaq 100 (NDX) futures were down 0.01%.
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It is worth highlighting that the tech-heavy Nasdaq Composite has been the standout performer, gaining over 1.5% so far this week. The Dow Jones and the S&P 500 have also seen gains of nearly 1% and 1.3%, respectively.
In Thursday’s regular trading session, the Dow Industrial Average gained 1.1%, the S&P 500 rose 0.53%, and the Nasdaq Composite remained relatively unchanged. The positive market sentiment can be attributed to strong earnings reports from several companies.
Nvidia’s (NVDA) impressive earnings report boosted several AI-related stocks, including Super Micro (SMCI) and Dell (DELL). Also, Snowflake’s (SNOW) strong Q3 earnings report and optimistic revenue outlook drove its stock price up by 33%. However, Alphabet (GOOGL) declined 4.7% after the Justice Department urged a federal judge to order the company to divest its Chrome browser.
In after-hours trading, Gap’s (GAP) shares were up about 16% following the release of robust Q3 results and an improved sales guidance. In contrast, Intuit (INTU) stock declined about 5% despite reporting better-than-expected first-quarter results.
Moving ahead, investors are awaiting preliminary S&P Purchasing Managers’ Index for November and the latest consumer sentiment data. On the earnings front, no major company is scheduled to release quarterly numbers today.
Meanwhile, the U.S. 10-year treasury yield was down at the time of writing, floating near 4.422%. At the same time, WTI crude oil futures trended higher, hovering near $70.58 per barrel as of the last check.
Elsewhere, European markets opened higher today as traders assessed a slew of economic reports from the region, including Retail sales in the United Kingdom, Germany’s Gross Domestic Product, and PMI index from France.
Asia-Pacific Markets Traded Mixed on Friday
Asia-Pacific indices were mixed today. Chinese indices saw a major decline due to concerns over the region’s economic recovery and potential trade tensions under the Trump administration. At the same time, Japanese indices witnessed a slight gain after the latest data pointed to a slowdown in inflation.
Hong Kong’s Hang Seng index was down 1.99%. Also, China’s Shanghai Composite and Shenzhen Component indices declined 3.06% and 3.52%, respectively. However, Japan’s Nikkei and Topix indices finished higher by 0.68% and 0.51%, respectively.
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