Stock futures indicate a lower open for major U.S. indexes as the market pulls back from record highs, with the S&P 500 and Nasdaq down 0.2% and 0.4%, respectively. Large-cap tech stocks mostly declined in premarket trading, while Adobe shares fell 11% due to a disappointing revenue outlook despite strong quarterly results. Investors await key economic data, including jobless claims and wholesale inflation, which could impact the Federal Reserve's interest rate decisions.
U.S. stock indices, including the Dow, S&P 500, and Nasdaq, are set to open lower amid economic concerns. Oil prices have increased, with Brent crude at $73.91 and WTI at $70.62 per barrel, driven by speculation of potential new sanctions on Russia by the Biden administration targeting oil and its shadow tanker fleet.
Dogecoin is poised for a potential surge to $4 if it maintains critical support above $0.35, according to a TradingView analyst. The ongoing support from Tesla CEO Elon Musk is seen as a key catalyst for this bullish trend, with the analyst noting that Dogecoin's market patterns suggest a repeat of past price rallies. While expressing skepticism about most altcoins, the analyst believes Dogecoin's community and Musk's backing position it as a strong contender in the cryptocurrency market.
Asian shares mostly rose, following a Wall Street rally, as U.S. inflation data suggested potential Federal Reserve support for the economy. The Hang Seng surged 1.4%, while the Nikkei 225 gained 1.2%. In the U.S., the S&P 500 climbed 0.8%, driven by tech stocks, despite a slight dip in the Dow.
Asian shares rose as Wall Street's rally continued, buoyed by an inflation update that suggests potential Federal Reserve support for the economy. The Hang Seng surged 1.7%, while Tokyo's Nikkei 225 gained 1.3%, driven by technology stocks. In the U.S., the S&P 500 climbed 0.8%, with Tesla jumping 5.9% and Stitch Fix soaring 44.3% after better-than-expected earnings.
Asian shares rose Thursday, buoyed by a Wall Street rally and positive inflation updates that may lead to further Federal Reserve support for the economy. The Hang Seng surged 1.7%, while the Nikkei 225 gained 1.3%, driven by technology stocks. In the U.S., the S&P 500 climbed 0.8%, marking its first two-day gain in nearly a month, as inflation ticked up slightly to 2.7% in November.
Asian shares rose Thursday, buoyed by a Wall Street rally and positive inflation updates that may lead to Federal Reserve support for the economy. The Hang Seng surged 1.7%, while Tokyo's Nikkei 225 gained 1.3%, driven by technology stocks. In the U.S., the S&P 500 climbed 0.8%, marking its first two-day gain in nearly a month, as expectations for interest rate cuts fueled market optimism.
The stock market rally continues, with the Nasdaq surpassing 20,000 for the first time, driven by megacap stocks like Tesla, Google, and Amazon reaching new highs. Despite a slight dip in Dow and S&P futures, bullish sentiment remains strong, though caution is advised as the Nasdaq is extended above its 50-day moving average. Investors are encouraged to refine watchlists and prepare for potential market adjustments.
Leading cryptocurrencies surged following inflation data that met expectations, with Bitcoin reclaiming the $100,000 mark and Ethereum returning to $3,800. Analysts predict Bitcoin could reach new all-time highs if it stays above $97,844, while Ethereum is expected to hit $4,900 soon. The global cryptocurrency market capitalization rose to $3.61 trillion, reflecting a 5.02% increase in 24 hours.
The S&P 500 dipped 0.3% but remains close to its record high, up 26.5% for the year. Following the CPI report, which showed persistent inflation, markets are pricing in a near certainty of a Federal Reserve rate cut next week, despite concerns over stubborn inflation pressures. Core services inflation eased slightly, but rising prices in other sectors, particularly for cars and hotels, keep the Fed cautious.
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