US futures are pointing at a higher start, but tech stocks are once again under pressure amid rising bond yields and increased expectations for higher interest rates.
Nonetheless, tech-rich Nasdaq is called 72 points higher, while the Dow Jones and the S&P 500 are expected to add 16 and 7 points respectively.
“After yields surged to a 14-month high yesterday, dragging the tech-heavy Nasdaq sharply lower, today’s pause in the bond-market sell-off is seeing demand for tech stocks rebound,” said Sophie Griffiths, analyst at OANDA.
“With little on the US economic calendar to distract investors, sentiment and inflation expectations will be under the spotlight. As long as 10-year treasury yields can remain depressed around the 1.70% level, we could be looking at a more upbeat end to the week.”
In company news, FedEx reaped the benefits of the shift to online shopping and posted a 23% jump in fourth-quarter revenue to US$21.5bn, much higher than the US$19.9bn forecast, though bad weather caused a US$350mln drop in operating income.
The delivery company expects international express solutions and e-commerce demand to stay strong in the short-term even as restrictions are eased.
Four things to watch for on Friday:
- There’s very little in the earnings diary for Friday, however, investors will be keeping an eye on post-results share price reaction from both Nike Inc (NYSE:NKE) and FedEx Corp (NYSE:FDX)
- Winemaker Duckhorn Portfolio Inc (NYSE:NAPA) could also draw attention again following yesterday’s IPO which saw it make a strong start to life as a public company
- Banking giant Goldman Sachs Group Inc (NYSE:GS) may also find itself in the spotlight amid a revolt from some of its junior bankers over its incredibly long working hours
- The political realm could also draw attention as the US and China continue their contentious summit in Alaska
Story by ProactiveInvestors
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 888-809-8385 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
pathogens and gives you more
energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video)
Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.