Stock futures are on the rise following a losing week
Futures on the Dow Jones Industrial Average (DJIA) and Nasdaq-100 Index (NDX) are up triple digits ahead of the open, while S&P 500 Index (SPX) futures sit comfortably higher, as the market looks to rebound from a losing week. Chip stocks are on the rise, after Foxconn posted record quarterly revenue, and investors are looking to Washington D.C. after news that President-elect Donald Trump's international tariff plans will be less severe than expected. It's another holiday-shortened week ahead, as the market will be close on Thursday to mourn the death of former U.S. President Jimmy Carter.
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5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 2.7 million call contracts and over 1.2 million put contracts exchanged on Friday. The single-session equity put/call ratio fell to 0.45 and the 21-day moving average remained at 0.61.
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Salesforce Inc (NYSE:CRM) is down 0.4% premarket, after a downgrade from Guggenheim to "sell" from "neutral." The analyst in coverage believes Wall Street's near-term expectations for
the company's artificial intelligence (AI) plans may be overblown. Year over year, the equity is up 32.5%.
- Comcast Corp (NYSE:CMCSA) will launch Universal Ads in the first quarter, a new advertising platform meant for small- and medium-sized companies. The stock is down 0.3% before the bell, and off 11.6% since last January.
- Super Micro Computer Inc (NASDAQ:SMCI) is up 4.7% in electronic trading, looking to extend last session's 10.9% pop on Microsoft's (MSFT) $80 billion AI spending plan. In the last year, the shares have tacked on 15.4%.
- The Federal Reserve's meeting minutes and a fresh batch of earnings are on tap this week.
Key Economic Data Emerges out of Asia
Asian markets started the week mostly lower as investors assessed two key business activity indicators. In China, the Caixin services purchasing managers' index (PMI) rose to 52.2 in December, marking a seven-month high and the fastest service sector expansion since May 2024. Meanwhile, Hong Kong's PMI stood at 51.1, signaling slower business growth compared to the previous month. In response, Japan's Nikkei dropped 1.5%, Hong Kong's Hang Seng fell 0.4%, and China's Shanghai Composite edged 0.1% lower. South Korea's Kospi bucked the regional downturn, climbing 1.9%, even as the country's head of presidential security reportedly refused to comply with orders to arrest impeached President Yoon Suk Yeol.
It’s different story over in Europe, with the region’s major bourses rising this afternoon on the backs of tech and auto stocks. This comes after a Washington Post report, which said Trump's tariff plan will be imposed only on “critical imports.” Elsewhere, Germany’s inflation rose to 2.9% in December, above the 2.6% forecast by analysts. At last glance, London’s FTSE 100 was 0.09% higher, Germany’s DAX was adding 1.3%, and France’s CAC 40 was up 2.1%.