U.S. stock futures were rising early Friday after solid earnings from tech and bank stocks led a rally in major averages the prior day. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.44%, 0.22%, and 0.10%, respectively, at 3:51 a.m. EST on January 16.
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During Thursday’s regular trading, the three major indexes closed higher. Chip stocks surged after Taiwan Semiconductor Manufacturing (TSM) posted strong Q4 results, reviving optimism around the AI trade. TSMC’s shares jumped over 4%, while Nvidia (NVDA) and Advanced Micro Devices (AMD) each rose about 2%. The S&P 500 and Nasdaq Composite each climbed around 0.3%, while the Dow advanced a firmer 0.6%.
Moreover, banking stocks boosted market gains, with Goldman Sachs (GS) and Morgan Stanley (MS) delivering strong quarterly results. Goldman shares surged over 4%, while Morgan Stanley climbed nearly 6%.
Even with Thursday’s gains, investors are heading into the end of a busy week on a cautious note. The major indexes are still on track for weekly losses, with the S&P 500 down about 0.3%, the Nasdaq off 0.6%, and the Dow lower by roughly 0.1% so far this week.
There are no key economic reports scheduled for today.
On the earnings front, regional banks including PNC Financial (PNC), Regions Financial (RF), State Street (STT), and others are expected to report today.
Notably, the U.S. 10-year Treasury yield was up, floating near 4.17%. WTI crude oil futures were trending lower, hovering near $59.24 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price decreased to nearly $4,604 per ounce on Friday.
Elsewhere, European indexes opened lower today as lingering concerns over Greenland’s independence continued to weigh on sentiment.
Asia-Pacific Markets Fall
Asia-Pacific markets mostly fell on January 16 due to ongoing geopolitical tensions.
Hong Kong’s Hang Seng Index dropped 0.29%. In China, the Shanghai Composite fell 0.26%, while the Shenzhen Component lost 0.37%. Meanwhile, Japan’s Nikkei declined 0.32%, and the Topix fell 0.28%.
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