The future of US stocks is looking up, with modest gains predicted after a rally that saw the Nasdaq 100 rise by over 5% this week. This is largely due to Nvidia, and the S&P 500 which rose by 3.5%. As of 8:00am ET, S&P futures were up by 0.2%, led by small-caps which increased by 1% as hopes of a large 50bps rate cut grew overnight. Nasdaq futures were also up by 0.1%, with Google, Meta, and Nvidia being the top performers in the megacap sector, despite a drop by Adobe due to poor guidance.
In premarket trading, Adobe saw a -8% drop after disappointing guidance, despite a strong FQ3 upside. Oracle, on the other hand, jumped another +6% after its positive ultra long-term revenue guidance. Boeing shares fell by as much as 4.4% after factory workers walked off the job for the first time in 16 years.
Investors are divided on the magnitude of the Fed’s anticipated pivot to policy easing starting at next week’s meeting. This debate has continued after data on Thursday showed that the US producer price index picked up slightly in August after the previous month’s numbers were revised lower. Meanwhile, an uptick in applications for unemployment benefits has renewed concerns about a weakening labor market.
In Europe, the Stoxx 600 rose by 0.4%. The IBEX outperformed peers, adding 0.4%, while the FTSE 100 remained flat and underperformed. Autos, construction and real estate are the best-performing sectors in Europe. Danish stocks hit a record for the first since November 2021, led by gains in DSV A/S after the logistics firm agreed to buy a Deutsche Bahn AG unit for €14.3 billion ($15.9 billion).
#Bottom Line
The future of US stocks is looking up, with modest gains predicted after a rally that saw the Nasdaq 100 rise by over 5% this week. This is largely due to Nvidia, and the S&P 500 which rose by 3.5%. As of 8:00am ET, S&P futures were up by 0.2%, led by small-caps which increased by 1% as hopes of a large 50bps rate cut grew overnight. Nasdaq futures were also up by 0.1%, with Google, Meta, and Nvidia being the top performers in the megacap sector, despite a drop by Adobe due to poor guidance.
What are your thoughts on this article? Do you agree with the predictions for the future of US stocks? Share this article with your friends and let us know your thoughts. Don't forget to sign up for the Daily Briefing, which is every day at 6pm.
The future of US stocks is looking up, with modest gains predicted after a rally that saw the Nasdaq 100 rise by over 5% this week. This is largely due to Nvidia, and the S&P 500 which rose by 3.5%. As of 8:00am ET, S&P futures were up by 0.2%, led by small-caps which increased by 1% as hopes of a large 50bps rate cut grew overnight. Nasdaq futures were also up by 0.1%, with Google, Meta, and Nvidia being the top performers in the megacap sector, despite a drop by Adobe due to poor guidance.
In premarket trading, Adobe saw a -8% drop after disappointing guidance, despite a strong FQ3 upside. Oracle, on the other hand, jumped another +6% after its positive ultra long-term revenue guidance. Boeing shares fell by as much as 4.4% after factory workers walked off the job for the first time in 16 years.
Investors are divided on the magnitude of the Fed’s anticipated pivot to policy easing starting at next week’s meeting. This debate has continued after data on Thursday showed that the US producer price index picked up slightly in August after the previous month’s numbers were revised lower. Meanwhile, an uptick in applications for unemployment benefits has renewed concerns about a weakening labor market.
In Europe, the Stoxx 600 rose by 0.4%. The IBEX outperformed peers, adding 0.4%, while the FTSE 100 remained flat and underperformed. Autos, construction and real estate are the best-performing sectors in Europe. Danish stocks hit a record for the first since November 2021, led by gains in DSV A/S after the logistics firm agreed to buy a Deutsche Bahn AG unit for €14.3 billion ($15.9 billion).
#Bottom Line
The future of US stocks is looking up, with modest gains predicted after a rally that saw the Nasdaq 100 rise by over 5% this week. This is largely due to Nvidia, and the S&P 500 which rose by 3.5%. As of 8:00am ET, S&P futures were up by 0.2%, led by small-caps which increased by 1% as hopes of a large 50bps rate cut grew overnight. Nasdaq futures were also up by 0.1%, with Google, Meta, and Nvidia being the top performers in the megacap sector, despite a drop by Adobe due to poor guidance.
What are your thoughts on this article? Do you agree with the predictions for the future of US stocks? Share this article with your friends and let us know your thoughts. Don't forget to sign up for the Daily Briefing, which is every day at 6pm.
