US stock futures were mixed ahead of Thursday’s open, with technology stocks rising in the following manner. Federal Reserve’s Recent Rate Hikes.
Futures linked to the S&P 500 (^GSPC) added 0.4% to Dow Jones Industrial Average futures (^ DJI) lagging behind, down 0.4%. Technology-focused Nasdaq Composite deal (^IXIC) increased by 1.2%.
The benchmark 10-year US Treasury yield rose to 3.415% on Thursday morning. The dollar index was flat.
The major US stock averages closed higher on Wednesday after the US Federal Reserve (Fed) raised interest rates to 25 basis points.Chairman Jerome Powell Upbeat comments on inflationary conditions moved the market higher.
The Fed’s decision follows recent economic data showing more evidence that inflation has slowed over the past few months, but Powell stressed that the Fed’s campaign is far from over.
Macro photos were mixed on Wednesday. ISM Latest Manufacturing PMI Lower expectations and lack of consensus. Meanwhile, private payrolls fell from 170,000 economists expected, he added 106,000 jobs in January.
The next major macroeconomic event is Friday’s January jobs report, which will be important for investors to further gauge whether there is evidence of an easing in the labor market.
Employers added, December jobs report showed labor market remains strong Robust 233,000 jobs Month to month, the average monthly increase over the last year was 375,000.
In the week ending Jan. 28, the number of new Americans filing for unemployment insurance fell to 183,000. The Labor Department said Thursday, That’s down from 195,000 economists expected.
In terms of revenue, Metaplatform (meta) reported fourth-quarter results after a bell that beat earnings expectations while delivering $5 billion in cost savings. It also announced a $40 billion share buyback. The social media giant’s share price has seen him soar nearly 20% in premarket trading.
The most weighted component of the S&P 500 — Amazon (AMZN), apple (AAPL), alphabet (goog) — prepare to report quarterly results on Thursday after the bell.
Overall, the fourth quarter earnings season looks to be improving, said Andrew Tyler of JP Morgan’s US market intelligence team. But he said the question remains: “Will investors follow the soft-landing narrative and current rally?”
The results of these technologies have revealed layoffs in the sector over the past few months as companies both large and small cut staff given slowing growth following record profits during the pandemic. It was brought when The total number of tech jobs that were cut was 41,829 during the last month, the highest across the industry, according to the company. Report from Challenger, Gray & Christmas Inc.
Elsewhere in the market, Carvana (CVNA.
On the other hand, overseas, the Bank of England Interest rate cut from 0.5% to 4%, the highest level in 14 years. Economists had high hopes for a rise from 3.5%. This is the 10th straight rate hike for central banks trying to keep record high inflation in check.
The European Central Bank, the central bank of 20 countries that share the euro, Another 0.5 point increase to 2.5%, in line with market expectations. The next rate hike will be of the same magnitude, according to the ECB.
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Dani Romero is a reporter at Yahoo Finance. follow her on her twitter @daniromerotv
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