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Nasdaq 100 futures rise as investors weigh Big Tech earnings, await key jobs data: Live updates


51 Mins Ago

Treasury yields hold steady ahead of key jobs report

U.S. Treasury yields held steady on Friday as investors awaited key labor market data that will give fresh insights into the state of the economy and could affect the Federal Reserve’s next policy moves.

At 4:08 a.m. ET, the yield on the 10-year Treasury was down by less than one basis point to 4.1797% as it continued to hover near levels last seen in November 2022, which it had jumped to earlier in the week. The 2-year Treasury was up by over one basis point to 4.9127%.

Treasurys

TICKER COMPANY YIELD CHANGE %CHANGE
US1M U.S. 1 Month Treasury 5.385% +0.007 0.00%
US3M U.S. 3 Month Treasury 5.469% +0.032 0.00%
US6M U.S. 6 Month Treasury 5.493% +0.003 0.00%
US1Y U.S. 1 Year Treasury 5.424% +0.034 0.00%
US2Y U.S. 2 Year Treasury 4.921% +0.025 0.00%
US10Y U.S. 10 Year Treasury 4.184% -0.005 0.00%
US30Y U.S. 30 Year Treasury 4.279% -0.025 0.00%

An Hour Ago

European markets open slightly higher

European markets opened slightly higher to close off a downbeat week, as investors digest the Bank of England rate hike Thursday and more company earnings.

The pan-European Stoxx 600 index was up 0.2% in the first few minutes of trading, with sectors spread across positive and negative territory. Banking stocks led minor gains, up 0.6%, while media stocks dropped 0.4%.

— Hannah Ward-Glenton

3 Hours Ago

China lifts tariffs on Australian barley imports after 3 years, Canberra eyes wine next

China announced on Friday it will lift tariffs on Australian barley imports starting Aug. 5, a move that points to improving bilateral relations and would alleviate supply concerns after Russia suspended a humanitarian corridor to deliver key Ukrainian grains to global markets.

The Chinese Ministry of Commerce “has ruled that it is no longer necessary to continue to impose anti-dumping duties and countervailing duties on imports of barley originating in Australia in view of changes in the Chinese barley market,” it said in a statement Friday. No further details on these changes were provided.

Australia’s trade, foreign and agriculture ministers said they “welcome this outcome” and expect a similar process to follow for the removal of duties on Australian wine. In March 2021, China introduced a crushing five-year tariff of up to 218% on Australian wine.

For more, please read here.

— Clement Tan

6 Hours Ago

Australia central bank cuts growth outlook for 2023

Australia’s central bank has cut the growth outlook for the country to 1% for 2023, down from its previous estimate of 1.25%.

The Reserve Bank of Australia said in its quarterly monetary policy statement that “growth in economic activity in Australia is forecast to remain subdued over the rest of the year, as cost-of-living pressures and the rise in interest rates continue to weigh on domestic demand.”

Still, the RBA noted inflation was “heading in the right direction,” cutting its inflation rate forecasts to 4.25% from 4.5%. The bank noted that inflation has been declining in the June quarter, but says it still remains “too high.”

It expects inflation to continue to decline, hitting 3.75% at the end of 2024 and back within the 2–3% target range in late 2025.

— Lim Hui Jie

7 Hours Ago

Hang Seng leads gains in Asia as property stocks surge

Hong Kong’s Hang Seng Index led gains in Asia on Friday, powered mainly by property and basic materials stocks.

The index climbed 1.61%, with top gainers on the HSI being property stocks like Longfor Group, which saw a 6.88% rise in its shares.

This was followed by Country Garden Holdings, which rose 4.14% and China Resources Land, which climbed 3.84%.

— Lim Hui Jie

10 Hours Ago

Small-cap benchmark is still shy of a 52-week high

It’s been a hot summer for the Russell 2000, but the small-cap index remains short of eclipsing its 52-week high.

Over the past three months, the index has gained 12.7% – outperforming the S&P 500 and the Dow Jones Industrial Average in that period. All three of the major averages have notched fresh 52-week highs over the summer, with the 30-stock Dow registering this achievement earlier this week.

The Russell 2000 is 3.5% away from its 52-week high level of 2,030.05, which it hit on Aug. 16, 2022. 

Darla Mercado, Gina Francolla

10 Hours Ago

Individual investor bullishness jumps again in latest AAII survey

Bullishness among individual investors that stocks prices will rise over the next six months surged again, to 49.0% from 44.9% last week, and stayed above the historic average of 37.5% for a ninth straight week, according to the latest survey from the American Association of Individual Investors.

The last time bullishness was above average for this long was from February-May, 2021.

That’s good for contrarians who want to bet against the market. Rising bullishness is usually tied to increased risk, and can suggest that much of the desired buying has already happened.

Bearish sentiment, that prices will drop in the next six months, fell to 21.3% among retail investors, from 24.1% last week, and was below average (31.0%) for a ninth week — the longest since February-June, 2021.

Neutral sentiment, that prices won’t change much over the next six months, eased to 29.7% from 31.0% against an historical average of 31.5%.

— Scott Schnipper

10 Hours Ago

Stocks poised for losing week

With just Friday’s session left in the trading week, the three major indexes are on pace for losses.

The Nasdaq Composite and S&P 500 have lost 2.5% and 1.8%, respectively, since the week began. Both are on track to post their worst weekly performances since March.

The Dow, meanwhile, has slid 0.7% on a week-to-date basis.

— Alex Harring

10 Hours Ago

Berkshire Class A shares hit a new record high

Warren Buffett’s Berkshire Hathaway finished Thursday’s session at a record high on a closing basis. Class A shares climbed 1.4% to close at an all-time high of $541,000, exceeding the conglomerate’s previous record of $539,180 reached on March 22, 2022.

The Omaha-based conglomerate reports second-quarter earnings this Saturday. The stock has gained more than 15% this year.

10 Hours Ago

See the stocks making the biggest after-hour moves

These are some of the stocks making the biggest after-hour moves:

  • Amazon — The e-commerce giant popped more than 7% in extended trading after posting strong second-quarter results and issuing upbeat revenue guidance for the current period.
  • Apple — The big technology stock slid 1% as traders parsed the company’s latest financial report.
  • Booking Holdings — Shares of the online travel company advanced 9% in extended trading after earnings came in better than Wall Street expected.

See the full list here.

— Alex Harring

11 Hours Ago

Stock futures are little changed

Stock futures were only modestly off flat shortly after 6 p.m. ET.

Futures tied to the Dow, S&P 500 and Nasdaq 100 were all little changed, within 0.1% of their flatlines.

— Alex Harring



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