Global Markets:
● Asian Stock Markets : Nikkei up 1.85%, Shanghai Composite up 0.95% Hang Seng up 1.23% ASX up 1.11%
● Commodities : Gold at $4,204.65 (0.83%) Silver at $58.048 (1.58%), Brent Oil at 105.17 (-0.71%), WTI Oil at 97.16 (-0.83%)
● Rates : US 10-year yield at 5.069, UK 10-year yield at 5.3772, Germany 10-year yield at 3.4075
News & Data:
● (USD) Core Retail Sales m/m
0.9% to 0.6% expected
Markets Update:
S&P 500 futures were little changed Thursday night after Wall Street’s major indexes recovered from recent losses, with investors rotating out of technology stocks and into other sectors.
Futures tied to the S&P 500 traded slightly below flat, while Nasdaq-100 futures fell 0.3%. Dow Jones Industrial Average futures added 10 points.
Asian markets advanced Friday, with Japan’s Nikkei 225 gaining more than 1% and the Topix rising 1.14%. South Korea’s Kospi climbed 1.22%, while Australia’s S&P/ASX 200 rose 0.83%.
In Thursday’s session, the S&P 500 gained approximately 0.3%, and the Nasdaq Composite edged up 0.1%, ending both indexes’ three-day losing streaks. The Dow outperformed, jumping more than 500 points, or 1.1%.
Technology stocks, particularly memory chipmakers, have faced pressure amid concerns about competition from China and rising debt associated with artificial intelligence infrastructure investments. Micron Technology, Seagate Technology and Western Digital were on track for weekly losses.
Investors are also assessing whether AI companies’ revenue growth justifies elevated valuations. Anthropic reported third-quarter revenue of $16.8 billion, while major chipmakers Nvidia and Broadcom remained under pressure.
Meanwhile, persistent inflation and elevated energy prices have complicated the outlook for monetary policy. Wholesale inflation recorded its largest increase since 2022, while consumer inflation remained above the Federal Reserve’s 2% target.
Investors will next assess earnings reports from Travelers and Citizens Financial, scheduled for release before Friday’s market open.
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