The futures linked to the DOW JONES rose 0.37% to 43,314 points, while those of the S&P 500 advanced 0.36%, to 5,958 points. NASDAQ 100 futures rose 0.43% to 21,182 points.
Wall Street comes from a session of ups and downs yesterday that finally ended with falls: the DOW JONES fell 0.16% and the S&P 500 fell 0.21%, while the biggest punishment was for the Nasdaq, with a fall 0.89% at the close, heavily weighed down by the falls of large technology stocks such as Tesla or Apple.
Despite these losses, all three indices remain on track to finish the week higher. The one that has performed the best has been the DOW JONES, with a cumulative increase until the close of yesterday Thursday of 2.90%, compared to the 1.89% that the S&P 500 has recorded. Both They are on track to record their best week since November. The technological Nasdaq rises 0.92% in the week despite yesterday’s corrective.
This Friday’s stock market day is the last with Joe Biden as president of the United States. President-elect Donald Trump will take office next Monday, the day Wall Street will be closed for Martin Luther King Day. But even if there is no negotiation, investors will have to be attentive to any information that the new tenant of the White House gives in his speech about his plans for tax cuts, tariffs, flexible regulations and immigration.
Although the New York market has welcomed Trump’s victory with some optimism – the S&P 500 has gained almost 3% since Election Day – there is some fear that his plans on tariffs and immigration could trigger a trade war and new pressures inflationary pressures at a time when the economy is still strong, which in turn could force the Federal Reserve to avoid further easing of monetary policy.
Traders expect the central bank to leave interest rates unchanged at its meeting later this month and see the first cut in June. Earlier in the week, they had all but ruled out any rate cuts for 2025, but the latest inflation figures for the week appear to have changed the outlook.
In that sense, for example, the pressure of bond yields on the stock market has decreased significantly. If the ten-year bond exceeded a yield of 4.8%, at a 14-month high, just a few days ago, today it stands at 4.589%.
This Friday’s macroeconomic agenda is not without interest, although it will predictably have less influence on actions than the inflation data of recent days. Today, industrial production data for December will be published, as well as construction permits and housing starts for the same month.
In the business sphere, the quarterly results season continues to advance, which unofficially started this week. Of the 28 S&P 500 companies that have reported fourth-quarter results, 82.1% have surpassed estimates, according to data compiled by LSEG.
Yesterday night JB Hunt Transport Services presented its accounts, whose shares fell 9% in the pre-opening after disappointing the market. The company posted earnings of $1.53 per share that fell short of the $1.61 analysts expected. Revenue was in line with expectations.
Slight gains for Bank OZK after the regional bank reported better-than-expected fourth-quarter results. Earnings per share of $1.56 per share compare with the market’s expectations of $1.44. The bank’s net interest income reached $379.4 million, also above the market estimate of $375.9 million.
In analyst recommendations, Salesforce rises 1.9% after TD Cowen upgraded the software provider’s advice to ‘buy’ from a previous ‘hold’.
In raw materials markets, oil prices are heading for their fourth consecutive week of gains, still driven by the possible impact that the sanctions imposed by the US administration on Russia may have on the supply of black gold. West Texas futures advance a slight 0.14% to $77.96, while benchmark Brent futures in Europe are paid at $81.28, barely unchanged from yesterday.
The euro fell a slight 0.01% against the dollar, leaving the exchange rate at 1.0301 dollars for each community currency.
In cryptocurrencies, Bitcoin once again exceeds the threshold of $100,000, with a rise in the last 24 hours of 3.17% to $102,267, according to data from CoinMarket.