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US stock index futures edged higher on Thursday, saying the market rally remains intact as major indexes move closer to record highs.
Where are the main reference markets?
Futures for the Dow Jones Industrial Average
YMU8, + 0.47%
increased by 24 points to 26,486 while the future S & P 500
ESU8, + 0.38%
increased by 2 points to 2,917 and future for the Nasdaq-100
NQU8, + 0.58%
were up 7 points to 7,533.75. All three were up about 0.1%.
Wednesday, both Dow
DJIA, + 0.61%
and the S & P
SPX, + 0.13%
has increased, with the S & P posting its seventh rise in the last eight sessions. That left the benchmark just 0.3% below its historical record high, while the Dow Jones index is 0.8% lower than its own. If the Dow were to break a record, it would end its longest run of record-breaking gains since the move between May 2015 and July 2016, according to the Dow Jones Data Group.
The nasdaq
COMP -0.08%
fell slightly on Wednesday, under the pressure of the latest decline in technology stocks, one of the worst performing sectors of September.
Find out how recent deals on Wall Street have been silent and without volatility
What are the driving markets?
Transactions on Wall Street have been relatively weak now that the earnings season is largely over and few major economic indicators have been released this week. This has left markets open to the latest business developments.
Among recent events, President Donald Trump reiterated this week his tough stance on China and said the US had "no choice" but to take $ 267 billion of additional tariffs on China. . This would add to advertised tariffs on about $ 200 billion of Chinese products announced Monday night. China reacted with tariffs of 5 to 10 percent on US $ 60 billion worth of goods that will come into effect on Sept. 24, and said it could introduce more measures if the United States applied higher tariffs.
Technology stocks have one of the strongest correlations with trade because they generate a large percentage of their revenues outside the United States and because they depend on Asian markets for their supply chains. The sector is down 2% so far this month, making it the biggest drag on inventories in September. Since the beginning of the year, it has risen 17.6%, well above the 8.8% increase in S & P.
While many fear that a generalized trade war will become a huge obstacle to global economic growth, investors have repeatedly ignored the problem over the last few months, choosing instead to focus on the signs of economic activity. improvement of economic fundamentals.
Lily: How fears of war have become less of a factor for stock investors
See also: Not just technology: stock market recovery is broader than credit
Thursday's trading could also be driven by the latest economic data, which will include weekly jobless claims and the Philadelphia Fed's September index, which is expected to hit 19.6 from 11.9 the previous month. Both will be released at 8:30 am ET. After market opening, readings on existing home sales and advanced economic indicators, both for August, will be released, along with a reading of household indebtedness in the second quarter.
What do market analysts say?
"The trade tensions have intensified, but you would not know it to look at the European and American stock markets. Trump's $ 200 billion tariff and the Beijing reaction were not a surprise. Investors are cautiously optimistic because this price series was not too severe, "said David Madden, analyst at CMC Markets UK.
What are the targeted stocks?
Actions of Red Hat Inc.
RHT, + 0.32%
The market fell 5.4% a day after posting lower-than-expected earnings and prospects below analysts' consensus.
In general, the financial sector
XLF, + 1.70%
could continue to attract attention one day after closing at a high level, a move that coincided with the US 10-year Treasury yield near its highest level of the year.
Producer of marijuana Tilray Inc.
TLRY, + 38.12%
will probably remain the focus of discussions following an extremely volatile patch, which resulted in his stopping five times in less than an hour on Wednesday. The stock has jumped nearly 600% in the past month, making it one of the most publicized bets in the field of legal cannabis.
Mining giant Rio Tinto
RIO + 2.86%
unveiled plans to buy back some of its Australian-listed shares before the end of the year as part of its decision to return to its shareholders about $ 3.2 billion of proceeds from the sale of coal assets .
British regulators have said Comcast Corp.
CMCSA, -1.11%
and 21st Century Fox Inc.
FOXA, + 0.18%
will settle their battle of redemption for Sky PLC via an auction starting Friday.
Micron Technology Inc.
MU, -0.60%
could be in focus. The chip maker must publish quarterly results after the market closes.
Read an overview of Micron's benefits
Where are the other commercial markets?
Most Asian stocks advanced on Thursday, with investors mostly underlining trade tensions with the United States. The Japanese Nikkei advanced for a fifth consecutive session.
Crude oil price
CLK9, -0.19%
rose 0.5% while the price of gold
GCM9, -0.17%
was little changed. The US dollar index
DXY, -0.70%
lost 0.3%.
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