US Stocks- Futures rise as lower Treasury yields boost high-growth stocks
时间:2024-06-28 23:38:55 阅读(143)
U.S. stock index futures edged higher on Thursday as easing government bond yields lifted high-valued growth stocks, while investors awaited business activity data and Federal Reserve Chair’s testimony to Congress.
Recession fears have gripped Wall Street on concerns that economic growth and corporate profits could come under pressure from rising interest rates, the Ukraine war and the prolonged supply chain problems.
In the previous session, U.S. stock indexes ended with slim losses after Fed Chair Jerome Powell said the central bank is not trying to engineer a recession but is fully committed to bringing prices under control even if doing so risks an economic downturn.
His second day of testimony before the House Financial Services Committee is at 10 a.m. ET (1400 GMT). Money markets are pricing in 75 basis point (bps) increase in rates next month, followed by a 50 basis point rise in September.
Weekly jobless claims report is due at 08:30 a.m. ET. The S&P Global’s Composite PMI survey for June will be published after the market opens. Similar surveys from earlier in the day showed manufacturing growth is slowing from Asia to Europe as surging inflation dents global economic outlook.
Meanwhile, the Fed is set to release the results of its 2022 stress test, which will assess how much capital banks would need to withstand a severe economic downturn. Shares of big banks slipped in premarket trading, with Wells Fargo down 0.2%.
At 06:54 a.m. ET, Dow e-minis were up 141 points, or 0.46%, S&P 500 e-minis were up 27.25 points, or 0.72%, and Nasdaq 100 e-minis were up 125.5 points, or 1.09%.
Tesla Inc rose 2% and Nvidia Corp 1.5% to lead gains among the growth and technology companies as Treasury yields pulled back.Occidental Petroleum Corp gained 3.3% after Warren Buffett’s Berkshire Hathaway Inc bought another 9.6 million shares of the oil company, boosting its stake to 16.3%.
Snowflake Inc climbed 5.1% after J.P. Morgan upgraded the cloud software company’s stock to “overweight” from “neutral”.
猜你喜欢
- Where is share market headed after Nifty closes above 18340, Bank Nifty above 43950; check support, resistance
- Voltas, Bata, TV18 Broadcast, Indigo Paints among 70 NSE stocks to hit 52-week low, 18 rises to 52-week high
- Dalmia Bharat stock outlook- Strong growth story, upbeat demand; HDFC Sec keeps ‘buy’, check target price
- Dhanlaxmi Bank shares recover from plunge led by director exit
- What should retail investors do in equity markets that give disappointing returns-
- Vibrant Gujarat Summit- Tight security at venues with 3-D mapping by drones, CCTV cameras placed - Details inside
- What’s crippling share market- SEBI boss calls out markets’ polio, smallpox; no view on IPO pricing
- Safeguarding maritime security- Indian Navy’s vigilance in the Arabian Sea
- Rupee trades in narrow range against US dollar_2