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Market Wrap: pre-opening session |
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U.S. market futures are mostly slightly higher on choppy trading to start October.
On Wednesday, the Nasdaq 100 added 69 points (+0.23%) to 30,408, up for a second session, while the S&P 500 declined 19 points (-0.25%) to 7,651 and the Dow Jones fell 443 points (-0.86%) to 50,906, with both posting a three-session losing streak.
On a monthly basis, the Nasdaq 100 gained 3.23% in September, extending its rebound to a second month. The Dow Jones lost 4.29%, halting a five-month winning streak.
The U.S. 10-year Treasury yield hit its highest level since April 2002 on Thursday before easing.
According to the CME FedWatch Tool, traders now see the odds of another 25-basis-point rate hike in October at about 37%, down from roughly 51% a session earlier.
On the stat front, weekly initial jobless claims are estimated at 200,000. Separately the ISM Manufacturing Index is expected at 55.0 in September vs 54.6 in August.
European indices drop on rising yields but currently rebound from their intraday lows.
Asian indices closed mixed. Regarding stats, The Bank of Japan's third-quarter Tankan headline large manufacturers index rose to 24 (vs 25 expected, 22 in the prior quarter). Separately, Australia's trade surplus for August narrowed to 495 million Australian dollars (vs 2.0 billion Australian dollars estimated).
WTI crude oil prices rebound above 91.00 dollars following a report saying that Chinese refiners suspended October fuel exports.
Gold gains some ground around 4,200 dollars.
Bitcoin very slightly rebounds around 84,000 dollars.
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Micron Technology (MU), a manufacturer of memory chips, is little changed despite posting better-than-expected results for its fiscal fourth quarter, with revenue soaring to 54.2 billion dollars from 11.3 billion dollars a year earlier. The company also gave upbeat guidance for its fiscal first quarter. The stock is up more than 273% year-to-date.
Alphabet (GOOGL), Google's holding company, edges higher after unveiling its new AI model "Argon".
Accenture (ACN), a leading global professional services company, jumps as full-year sales growth forecast topped expectations.
Rocket Lab (RKLB), a global leader in launch services and space systems, rises after signing "a multi-year launch agreement for 20 new Electron missions with Tokyo-based Earth observation company Synspective".
Synopsys (SNPS), an electronic design automation company, gains some ground as full-year guidance beat estimates.
Vicor (VICR), a leader in high-performance power modules, soars after raising quarterly sales guidance.
Constellation Energy (CEG), a power producer, is well oriented after the company and Amazon.com (AMZN) announced a "20-year power purchase agreement adding 190 megawatts of nuclear capacity at the Calvert Cliffs Clean Energy Center, Maryland's only nuclear plant and largest source of clean energy".
McCormick (MKC), a global supplier of seasonings and other flavorings, jumps on better-than-expected quarterly financial figures.
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Nike Inc (NKE)
McCormick & Co Inc (MKC)
Acuity Inc (AYI)
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On Wednesday, the S&P/TSX Composite Index fell 0.63% to 35,235 and the S&P/TSX 60 Index dropped 0.70% to 2,071.
Lundin Mining (LUN), a mining company, said "the Board of Directors has approved an increase of up to 100 million dollars to the share repurchase program for the remainder of 2026".
BCE (BCE)'s, a communication services company, target price was cut to 36 dollars from 38 dollars at National Bank of Canada.
Algonquin Power (AQN)'s, a renewable energy specialist, target price was cut to 9 dollars from 10 dollars at Barclays.
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