U.S. stock futures edged higher early Monday as investors anticipated earnings from chip giant Nvidia (NVDA) and major retailers like Walmart (WMT), Home Depot (HD), and Target (TGT). Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.98%, 0.61%, and 0.22%, respectively, at 3:43 a.m. EST on November 17.
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During Friday’s regular trading session and for the week, the three major indexes closed mixed, weighed down by uncertainty over the Federal Reserve’s next policy move and a sharp decline in technology stocks.
The Nasdaq Composite ended last week down about 0.5%, pressured by declines in major tech names including Alphabet (GOOGL), Amazon (AMZN), and Meta Platforms (META). Meanwhile, the Dow Jones Industrial Average and the S&P 500 posted modest weekly gains despite suffering sharp losses on Thursday.
With the recent government shutdown behind them, investors are now focused on the delayed release of September jobs data, which could influence the Fed’s next interest rate decision. The September Non-Farm Payrolls report is scheduled for release on Thursday, according to an update from the Bureau of Labor Statistics.
As the earnings season winds down, several notable companies are yet to report their results this week, including XPeng (XPEV), Home Depot, Baidu (BIDU), PDD Holdings (PDD), Nvidia, Palo Alto Networks (PANW), Target, Lowe’s (LOW), Walmart, Intuit (INTU), and BJ’s Wholesale (BJ).
Notably, the U.S. 10-year Treasury yield was down, floating near 4.13%. WTI crude oil futures were trending lower, hovering near $59.68 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price decreased to nearly $4,081 per ounce on Monday.
Elsewhere, in Europe, markets opened in positive territory on Monday, following a turbulent week marked by concerns over an AI-driven market bubble and slowing economic growth.
Asia-Pacific Markets Traded Lower
Asia-Pacific markets traded mostly lower on Monday as traders reacted to escalating trade tensions between Japan and China after Beijing warned its citizens about travel and study plans in Japan.
Hong Kong’s Hang Seng Index dropped 0.71%. In China, the Shanghai Composite lost 0.46%, while the Shenzhen Component rose 0.26%. Meanwhile, Japan’s Nikkei fell 0.10%, and the Topix slipped 0.37%.
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