March 2, 2024

OwnMeta News

Latest Breaking News…

Stock Market News Today- Morning Updates – 1/25

Stock market News Today jan. 26th 2024

Stock Market and Futures News Today Jan. 26th 2024

Stock Market News & Futures News Today- Morning Updates – 1/26

Stock futures declined on Friday, driven by a series of mostly disappointing quarterly reports, notably impacting chipmaker Intel, which saw a sharp drop. Nasdaq-100 futures slipped by 0.4%, S&P 500 futures decreased by 0.1%, and Dow Jones Industrial Average futures fell by 0.1% or 19 points.

Intel faced a significant premarket decline of nearly 11% following disappointing fiscal first-quarter guidance. Similarly, semiconductor stock KLA Corp slid over 3% due to below-par revenue and earnings per share guidance for its fiscal third quarter. Visa shares also experienced a more than 2% decline after the credit card company reported a slowdown in U.S. volumes.

Despite the recent downturn, both the S&P 500 and Nasdaq Composite had shown consistent gains over the previous six sessions. The S&P 500 achieved a record high for five consecutive trading days, marking the longest streak since November 2021.

For the week, the S&P 500 recorded a 1.1% increase, the Dow gained 0.5%, and the Nasdaq outperformed with a 1.3% jump.

The market’s upward trend had been supported by positive economic data released on Thursday, revealing higher-than-expected economic growth in the fourth quarter. This reinforced investor optimism about the economy avoiding a severe recession.

Looking ahead, investors awaited additional inflation data, specifically December’s personal consumption expenditures price index (PCE), scheduled for Friday morning. The PCE is a key inflation metric for the Federal Reserve, and the outcome could influence the central bank’s upcoming policy decisions. Economists polled by Dow Jones anticipated a 3% year-over-year increase in core PCE prices for December.

In other news, American Express shares rose over 2% in premarket trading despite reporting weaker-than-expected fourth-quarter results. The company earned $2.62 per share on revenue of $15.8 billion, slightly below analysts’ expectations. However, the company provided a positive full-year earnings guidance range of $12.65 to $13.15 per share, surpassing StreetAccount consensus estimates of $12.38 per share.