U.S. futures inched higher on Thursday morning as traders returned after a holiday. Investors expect the tech-fueled rally to push the S&P 500 index (SPX) to a new high. Futures on the Nasdaq 100 (NDX), the S&P 500, and the Dow Jones Industrial Average (DJIA) were up by about 0.7%, 0.35%, and 0.02%, respectively, at 4:05 a.m. EST, June 20.
Strong gains in artificial intelligence-related tech companies, including Nvidia (NVDA) and Dell Technologies (DELL), boosted traders’ confidence, driving the S&P 500 index to a record high on Tuesday. The Nasdaq Composite, SPX, and DJIA gained 0.03%, 0.25%, and 0.15%, respectively, on the same day.
Turning to economic reports, all eyes will be on the Housing Starts and Building Permits data scheduled for release today. In addition, Initial Jobless Claims data for the week ended June 14 will be made public today.
On the earnings front, Darden Restaurants (DRI), Accenture (ACN), Jabil (JBL), Kroger (KR), and Smith & Wesson Brands (SWBI), among others, will announce results today.
Meanwhile, the U.S. 10-year treasury yield was up at the time of writing, floating near 4.25%. At the same time, WTI crude oil futures trended lower, hovering near $81.34 per barrel as of the last check.
Elsewhere, European markets opened higher on Thursday as investors looked forward to the Bank of England’s interest rate decision due later today.
Asia-Pacific Markets Traded Lower on Thursday
Most of the Asia-Pacific indices closed in the red today as investors evaluated the decision of China’s central bank to keep one-year and five-year loan prime rates unchanged.
China’s Shanghai Composite and Shenzhen Component indices ended down by 0.42% and 1.63%, respectively. Similarly, Hong Kong’s Hang Seng index and Japan’s Topix index were down 0.61% and 0.11%, respectively. However, Japan’s Nikkei index gained 0.16% in today’s trading session.
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