U.S. stock futures rose Thursday, eyeing a tech comeback as TSMC optimistic (TSM) results raised AI hopes and investors prepare for Netflix (NFLX) to kick off the results season into high gear.
Futures on the S&P 500 (^GSPC) and the Dow Jones Industrial Average (^DJI) increased by around 0.2% after close with their final drops. Nasdaq100 (^NDX) futures also added 0.2% after technology stocks finished down more than 1%.
Actions to have fought in a context of concerns, inflation is no longer slowing and the Federal Reserve could reverse interest rate cuts. This has put company profits at the center of attention as investors closely monitor the quality of reports. living up to high expectations.
Signs of strength AI demand in TSMC results renewed optimism for chip and technology stocks (XLK), which led the withdrawal Wednesday. The Taiwanese chip giant, seen as an industry barometer, signaled an “insatiable” appetite for AI by posting higher quarterly profit.
Attention now turns to Netflix, as attention shifts to tech stocks, including “Gorgeous” group of companies. The streaming leader’s financial update later Thursday is seen by some as the first real test for stocks this earnings season, given megacap technologies still play a big role by pushing the markets up.
At the same time, the market remains attentive to the debate over whether the Federal Reserve might refrain from cutting interest rates this year, given the chances of an interest rate hike. “no landing” for the economy. Appearances by policymakers, including John Williams and Raphael Bostic, are scheduled for Thursday.
Initial jobless claims for the week ending April 13 totaled 212,000, according to Labor Department data released Thursday. This figure is lower than the consensus estimate of 215,000 established by Bloomberg.
U.S. bond yields continued to move away from their recent five-month highs, easing pressure on stocks. The 10-year Treasury yield (^TNX) fell about 2 basis points to trade near 4.56%.
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