Traders work on the trading floor of the New York Stock Exchange.
New York Stock Exchange
Nasdaq 100 Futures Stocks rose late Thursday as traders analyzed key earnings reports ahead of the all-important jobs report.
Futures tied to technology stocks rose 0.3%. Dow Jones Industrial Average Futures It’s only up 4 points. S&P 500 Index Futures up 0.1%.
Amazon Strength in cloud computing and advertising drives shares of the e-commerce giant up more than 5% more than Wall Street profit expectations. Intel surge The company’s shares rose more than 7% after beating analysts’ revenue forecasts and providing strong guidance.
The moves follow a downbeat meeting on Thursday, in which S&P 500 Index and Nasdaq Index dragged down Decline due to profit Microsoft and meta platform. Both indexes had their worst trading days since early September.
this Dow ChemicalAt the same time, it plummeted more than 300 points. Microsoft, Intel and Amazon led the blue-chip average lower as the reports spooked investors in big tech companies.
“Obviously, it’s largely driven by technology,” Jay Hatfield, chief information officer at Infrastructure Capital Management, said of Thursday’s decline. “I would also say that people may be risk averse ahead of the election. ”
Thursday also marked the end of a losing trading month, a negative sign in a strong year. The Dow led the major indexes lower, down 1.3%, while the S&P 500 and Nasdaq fell 1% and 0.5% respectively.
Investors are focusing on closely watched employment data due on Friday morning. Economists polled by Dow Jones expect nonfarm payrolls to rise by 100,000 jobs in October, which would mark a minimum increase over the course of nearly four years. Meanwhile, the unemployment rate is expected to hold steady at 4.1%.
On the earnings front, traders will focus on Friday’s reports Chevron and Exxon Mobil. Friday will mark the end of the busiest earnings week of the season, with nearly a third of S&P 500 companies reporting.
