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Market Wrap: pre-opening session |
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U.S. market futures are consolidating after the S&P 500 halted a three-session decline on Wednesday, rebounding 35 points (+0.46%) to 7,666. The Nasdaq 100 gained 66 points (+0.23%) to 29,143, and the Dow Jones was up 295 points (+0.56%) to 53,061.
The U.S. 10-year Treasury yield retreated 1.6 basis points to 4.780%, ending a five-session rally.
On the stat front in the U.S. the ISM services index is anticipated at 54.3 in August vs 54.1 in July. Separately, the trade deficit for July is estimated at 90 billion dollars. Also, weekly initial jobless claims are expected at 205,000.
European indices are also consolidating. On the stat plan, in the euro zone, producer prices rose 5.8% year-on-year in July, after increasing 4.6% in June.
Asian indices closed mixed. Regarding stats, Australia's trade surplus for July totaled 1.9 billion Australian dollars, above the 1.4 billion Australian dollars estimated.
WTI crude oil prices continue to rise, trading around 93.00 dollars. U.S. data showed that crude-oil stockpiles fell by 4.45 million barrels for the week that ended on August 28, a much larger reduction than expected.
Gold slightly rebounds, yet capped by the 4,450 dollars threshold.
Bitcoin slightly rises above 77,000 dollars.
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Broadcom (AVGO), a chip giant, loses some ground as current quarter sales forecast missed estimates.
Snowflake (SNOW) surges as the software solutions provider reported 35% annual growth in second-quarter revenue and raised its full-year guidance.
Hewlett Packard Enterprise (HPE), a supplier of information technology products and services, slides as full-year earnings growth forecast was roughly in line with expectations. The stock soared more than 115% since the beginning of the year.
NetApp (NTAP), a leading provider of data management and storage solutions, strongly declines as quarterly deferred revenue disappointed investors.
Petco Health and Wellness (WOOF), a pet products retailer, jumps as quarterly adjusted Ebitda topped expectations.
Argan (AGX), an engineering and construction company, pops on better-than-expected quarterly financial figures.
Five Below (FIVE), a discount retailer, is well oriented as quarterly financial figures beat estimates.
C3.ai (AI), an artificial intelligence company, loses some ground as current quarter sales guidance disappointed investors.
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Ciena Corp (CIEN)
Zscaler Inc (ZS)
Samsara Inc (IOT)
Guidewire Software Inc (GWRE)
Docusign Inc (DOCU)
UiPath Inc (PATH)
The Toro Co (TTC)
The Campbell's Co (CPB)
Planet Labs PBC (PL)
Victoria's Secret & Co (VSXY)
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Earnings release:
Lululemon Athletica Inc (LULU)
On Wednesday, the S&P/TSX Composite Index climbed 0.74% to 36,091 and the S&P/TSX 60 Index gained 0.65% to 2,121.
BRP Inc (DOO), a global leader in the world of powersports vehicles, propulsion systems and boats, posted quarterly adjusted loss per share of 0.18 dollar vs an adjusted EPS of 0.92 dollar a year earlier. Sales rose 18.5% to 2.24 billion dollars. Both figures were better than expected. The company raised full-year guidance.
Major Drilling (MDI), a drilling & mine service company, reported quarterly net income up 44% to 14.5 million dollars. Sales rose 22% to 277.3 million dollars, beating estimates. On the other hand adjusted gross margin declined to 24.0% from 25.2% a year earlier but improved from 22.0% in the previous quarter.
Denison Mines (DML) and Cameco (CCO), uranium specialists, were both rated "buy" in new coverages at Jefferies.
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