Futures linked to the DOW JONES index rose 0.20% to 46,451 points, while those of the S&P 500 advanced 0.12%, to 6,743 points. NASDAQ 100 futures rose 0.11% to 25,127 points.
Wall Street is coming off a bearish day yesterday, Thursday, in which the Dow Jones ended up losing 243.36 points, or 0.52%. The S&P 500, which reached all-time highs during intraday trading, finally fell 0.28%. The same thing happened to the technological Nasdaq, which set new records before closing with a decrease of 0.08%. Of course, it remained above the psychological level of 23,000 points.
In the accumulated of the week, until Thursday’s close, both the S&P 500 and the Nasdaq registered slight gains, of 0.3% and 1.1%, respectively. However, The Dow Jones is heading for a 0.9% drop, with data as of the close of Thursday. The index has not managed to close positive on any day of the week, moving away step by step from the historical highs of 46,758.28 points that it achieved last Friday.
He closure of the US Administration There is still no solution after the Senate did not approve a provisional financing proposal for the seventh time yesterday, Thursday. There is some reason for hope, however, as some Republican lawmakers have expressed a willingness to negotiate the health care subsidies that Democrats are demanding as a condition of backing the bill.
“The markets are trying to balance some factors because We are sailing blind due to the government shutdown”, explains Tom Lee of Fundstrat in statements to al CNBC. With stagnation continuing, investors are finding it difficult to find catalysts due to a lack of economic data from the US government. The most relevant, so far, is the September employment report, which was key to discerning the Fed’s monetary policy.
Meanwhile, according to Bloombergthe Bureau of Labor Statistics plans publish the CPI for September at the end of the month.
At least the markets are counting on several interventions by Fed officials to clarify their opinions. Federal Reserve Bank of San Francisco President Mary Daly, Federal Reserve Bank of Chicago President Austan Goolsbee, and Federal Reserve Bank of St. Louis President Alberto Musalem are scheduled to speak today.
He has also spoken Federal Reserve Governor Christopher Wallerwho has pointed out that “I still believe we should cut rates, but we should be cautious about it.”As he clarified, he is in favor of “moving towards reducing rates, but I will not do it aggressively and quickly, lest I make a big mistake in the direction things take.”
Today, in addition, the consumer confidence index prepared by the University of Michigan.
At the business level, the first results reports for the third quarter have already been broken down, although the season will pick up speed next week with the accounts of the large Wall Street banks: JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs, Wells Fargo and Morgan Stanley.
Today one of the great protagonists is Levi Strauss, which plummets by almost 8%. Despite putting better-than-expected earnings on the table, investors seem concerned about the possible impact of tariffs of the Trump administration in the jeans manufacturer’s business.
The company earned 34 cents per share, excluding items, on revenue of $1.54 billion. Analysts had expected Levi to earn 31 cents a share on revenue of $1.5 billion.
Much better reception for Applied Digital, which shoots up 25% in the New York morning after exceed market revenue estimates thanks to growing demand for its data center services.
The company’s revenue increased 84%, reaching $64.2 million, in the quarter ended August 31, compared to analysts’ estimate of $50 million. Applied Digital reported an adjusted loss per share of 3 cents, narrower than the 13 cent loss expected by analysts.
Outside of results, Qualcomm shares fall 2.8% in pre-market after China has launched an antitrust investigation against the American semiconductor manufacturer for the acquisition of the Israeli Autotalks. China’s State Administration for Market Regulation has explained that the investigation will examine whether Qualcomm violated Chinese antitrust law by failing to legally declare some details of its acquisition of the Israeli chip designer.
While, Financial Times publish that China has tightened microchip import controls from abroad, including those from NVIDIA, deploying customs inspectors in the country’s ports in recent weeks to carry out “rigorous checks.” The objective would be to enforce the ‘recommendation’ given by Xi Jinping’s Government so that Chinese companies stop ordering and cancel orders already placed for the H20 and RTX Pro 6000D chips, which have a design ‘involved’ by NVIDIA itself so that Washington authorizes their export.
In raw materials markets, Oil prices today record their biggest drop in a week amid optimism about easing tensions in the Middle East and supply prospects. Israel has approved a framework that would allow Hamas to release hostages in exchange for prisonersan important step forward for a peace agreement to end the bloody conflict in Gaza.
US West Texas futures fell 1.19% to $60.79 per barrel, while international benchmark Brent crude fell 1.17% to $64.46.
Meanwhile, Gold is recovering after taking a break and is once again approaching the threshold of $4,000 per ounce that it surpassed this week. In its cash variety, it rose 0.55% to $3,998.23.
The euro rose 0.08% against the dollar until the exchange rate stood at 1.1576 dollars for each community currency.