Global Markets:
- Asian Stock Markets : Nikkei down 1.19%, Shanghai Composite up 0.01% Hang Seng down 1.80% ASX up 0.41%
- Commodities : Gold at $4,324.57 (0.47%) Silver at $62.328 (0.08%), Brent Oil at 79.24 (-0.26%), WTI Oil at 74.92 (-0.37%)
- Rates : US 10-year yield at 4.611, UK 10-year yield at 4.8938, Germany 10-year yield at 3.1037
News & Data:
- (USD) ADP Non-Farm Employment Change 44K to 68K expected
- (USD) ISM Services PMI 54.1 to 54.5 expected
Markets Update:
U.S. stock futures edged higher Thursday after the Dow Jones Industrial Average closed at another record high, as investors prepared for a fresh round of corporate earnings. Dow futures gained 92 points, or 0.2%, while S&P 500 futures rose 0.2%. Nasdaq-100 futures were little changed.
During Wednesday’s session, the Dow advanced 263.24 points, or 0.49%, marking its fifth straight day of gains and a new record close. Meanwhile, the S&P 500 slipped 0.17%, ending a four-day winning streak, while the Nasdaq Composite fell 0.83% as investors locked in profits from recent technology gains.
Asian markets traded mixed, with Japan’s Nikkei 225 falling 0.51% and the Kospi dropping 1.84%, while Australia’s S&P/ASX 200 added 0.1%.
Earlier optimism was driven by strong corporate earnings and continued enthusiasm around artificial intelligence. Nvidia climbed more than 3% after Elon Musk said SpaceX would rely exclusively on Nvidia chips for its AI infrastructure. However, technology stocks later retreated as Alphabet and AMD came under pressure.
Goldman Sachs Asset Management’s Katherine Bordlemay noted that earnings growth is broadening across nearly every S&P 500 sector, with AI investments supporting stronger margins and expanding backlogs.
Markets also found support from easing Middle East tensions, which helped cool oil prices. Investors now await weekly jobless claims, Friday’s U.S. payrolls report, and earnings from Warner Bros. Discovery, Airbnb, and Lyft.
Upcoming Events:
- 12:30 PM GMT – USD Unemployment Claims
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