XOM - Nasdaq Futures Climb As Meta Amazon Gains Offset Apple Slide: Analyst Points to 2 Factors Reinforcing Bullish Outlook This Year | Benzinga
Stock futures are pointing upwards on Friday as traders assess earnings reports from Meta Platforms, Inc. (NASDAQ:META), Amazon, Inc. (NASDAQ:AMZN), and Apple, Inc. (NASDAQ:AAPL). Earnings remain mixed, raising concerns about both the economy and corporate profit growth. The non-farm payrolls report for January, anticipated before the market opens, is expected to heavily influence the day’s trading direction. A stronger-than-expected job gains report and/or any spike in wage growth could potentially reignite inflation fears, triggering selling pressure in the market.
Cues From Thursday's Trading:
Optimism preceding tech earnings and some favorable economic data contributed to gains across major averages on Thursday. The indices opened higher and remained range-bound in a sideways move until late-morning trading, with the Dow Industrials briefly dipping below the unchanged line. Subsequently, stocks initiated a rally and concluded near the session highs.
The majority of sectors displayed solid advancements during the session, illustrating the breadth of the rally, although energy stocks experienced some pullback.
US Index Performance On Thursday
Index Performance (+/-) Value
Nasdaq Composite +1.30% 15,361.64
S&P 500 Index +1.25% 4,906.19
Dow Industrials +0.97% 38,519.84
Russell 2000 +1.39% 1,974.42
Analyst Color:
Fund manager Louis Navellier pointed out two factors that ...