Analyzing the Impact of Dow & Nasdaq Futures on Market Trends ( 9 Nov 2023)
Dow & Nasdaq Futures Today
US futures are trading flat on early Thursday following a session in which the S&P 500 index and Nasdaq Composite ended their longest winning streak in two years.
Nasdaq 100 futures trading edge lower by 7 points or 0.047% and at 15379 level. S&P 500 futures also dropped slightly by 2.50 points or 0.051% at 4397 level. Meanwhile, the Dow Jones Industrial Average (DJIA) futures index is trading almost flat, down by 2 points or 0.005%, and at the 34171 level at 1.10 pm IST or 2.40 a.m. EDT.
US Markets on Wednesday
On Wednesday, US stock markets ended flat, as investors assessed more corporate earnings and a decline in energy stocks due to a fall in crude prices. Investors waited for Fed Chair Jerome Powell’s speech for a further clue on interest rate trajectory, but he didn’t comment on the monetary policy or economic outlook.
Dow Jones Industrial Average (DJIA) closed lower by 0.12% snapping a seven-day winning streak, while S&P and Nasdaq gained 0.10% and 0.8% respectively for the eighth and ninth consecutive day on Wednesday. Meanwhile, the 10-year Treasury yield slipped to 4.511%, yield was settled at 4.568% on Tuesday.
Walt Disney reported its quarterly results on Wednesday after the bell, the shares rose 3% in after-hours trading after it reported better-than-expected profit and sharp profit growth for its fiscal fourth quarter.
The ride-hailing company Lyft dropped nearly 2% as the company reported quarterly earnings after the closing bell showed its booking came worse than anticipated and posted weak guidance.
You can also read- US Markets on 8 Nov: Dow Slips, S&P and Nasdaq Extend Winning Streak
US Markets Today
On Thursday, Investors will closely monitor the weekly jobless claims data. Traders will also follow the Fed Chair Jerome Powell’s speech at the 24th Jacques Polak Annual Research Conference, Global Interdependence conducted by the International Monetary Fund (IMF) on November 9 Thursday.
On the earning front, Honda Motor Company, Sony Corp, AstraZeneca, Becton, Dickinson and Company, Brookfield Corp., Transdigm Group, Li Auto, The Trade Desk, Illumnina, and News Corporation, will report their quarterly earnings.
Also, read – Hedging: Meaning, Risk, Strategies, and types of Hedge
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