Nasdaq futures jump nearly 2% on Meta surge, Fed relief
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Meta jumps on $40 billion share buyback
Honeywell pushes Dow futures lower on Q4 miss
Merck slides on disappointing forecast
U.S. weekly jobless claims fall unexpectedly
Futures: Nasdaq up 1.70%, S&P up 0.71%, Dow down 0.08%
Adds comments, details; updates prices
By Shreyashi Sanyal and Johann M Cherian
Feb 2 (Reuters) -Nasdaq futures jumped on Thursday as Meta Platforms surged on rigorous cost controls, while a dovish message from Federal Reserve Chair Jerome Powell boosted bets of a softer landing for the U.S. economy.
Meta Platforms Inc META.O jumped 19.1% in premarket trading, after the Facebook-parent announced a new $40 billion share buyback and said it would cut costs in 2023 by $5 billion to between $89 billion and $95 billion.
Shares of other growth companies including Apple Inc AAPL.O, Alphabet Inc GOOGL.O and Amazon.com Inc AMZN.O rose between 1.5% and 4.9%. The three companies are slated to report quarterly results after market close.
"It certainly seems that markets are up because earnings for Meta were surprisingly positive," said Sam Stovall, chief investment strategist at CFRA Research in New York.
"Investors are also encouraged by the fact that the Fed is sort of tempting that it's done or close to being done with its rate tightening program."
Wall Street's main indexes got a boost in the previous session as Powell acknowledged that inflation was starting to ease after the U.S. central bank raised rates by 25 basis points.
Powell's comments relieved investors that a U.S. recession, which has been widely priced in, will likely be mild.
Data showed the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, highlighting that the labor market's resilience, ahead of nonfarm payroll numbers on Friday.
After a bruising 2022, U.S. stock markets have made a strong start to the year, with megacap companies gaining on hopes that the Fed will ease its hawkish monetary policy stance, which in turn could alleviate some pressure off their valuations.
At 8:44 a.m. ET, Dow e-minis 1YMcv1 were down 28 points, or 0.08%, S&P 500 e-minis EScv1 were up 29.25 points, or 0.71%, and Nasdaq 100 e-minis NQcv1 were up 211 points, or 1.7%.
Dow S&P 500 futures were weighed down by Honeywell International Inc HON.O that fell 3.3% on posting a 28.6% fall in quarterly profit, hurt by supply chain constraints.
Drugmaker and fellow Dow component Merck & Co's MRK.N, slid 1.2% on a lower-than-expected annual forecast, while Eli Lilly & Co LLY.N fell 2.4% on missing quarterly revenue estimates.
Align Technology Inc ALGN.O surged 18.2% on its first quarterly results beat in a year, driven by demand for its orthodontic treatments.
As many as 70% of the 200 companies in the S&P 500 that had reported fourth-quarter earnings as of Wednesday have topped Wall Street expectations. Analysts now see earnings of S&P 500 firms declining 2.4% for the quarter, according to Refinitiv estimates.
Reporting by Shreyashi Sanyal and Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty and Vinay Dwivedi
면책조항: XM Group 회사는 체결 전용 서비스와 온라인 거래 플랫폼에 대한 접근을 제공하여, 개인이 웹사이트에서 또는 웹사이트를 통해 이용 가능한 콘텐츠를 보거나 사용할 수 있도록 허용합니다. 이에 대해 변경하거나 확장할 의도는 없습니다. 이러한 접근 및 사용에는 다음 사항이 항상 적용됩니다: (i) 이용 약관, (ii) 위험 경고, (iii) 완전 면책조항. 따라서, 이러한 콘텐츠는 일반적인 정보에 불과합니다. 특히, 온라인 거래 플랫폼의 콘텐츠는 금융 시장에서의 거래에 대한 권유나 제안이 아닙니다. 금융 시장에서의 거래는 자본에 상당한 위험을 수반합니다.
온라인 거래 플랫폼에 공개된 모든 자료는 교육/정보 목적으로만 제공되며, 금융, 투자세 또는 거래 조언 및 권고, 거래 가격 기록, 금융 상품 또는 원치 않는 금융 프로모션의 거래 제안 또는 권유를 포함하지 않으며, 포함해서도 안됩니다.
이 웹사이트에 포함된 모든 의견, 뉴스, 리서치, 분석, 가격, 기타 정보 또는 제3자 사이트에 대한 링크와 같이 XM이 준비하는 콘텐츠 뿐만 아니라, 제3자 콘텐츠는 일반 시장 논평으로서 "현재" 기준으로 제공되며, 투자 조언으로 여겨지지 않습니다. 모든 콘텐츠가 투자 리서치로 해석되는 경우, 투자 리서치의 독립성을 촉진하기 위해 고안된 법적 요건에 따라 콘텐츠가 의도되지 않았으며, 준비되지 않았다는 점을 인지하고 동의해야 합니다. 따라서, 관련 법률 및 규정에 따른 마케팅 커뮤니케이션이라고 간주됩니다. 여기에서 접근할 수 있는 앞서 언급한 정보에 대한 비독립 투자 리서치 및 위험 경고 알림을 읽고, 이해하시기 바랍니다.
