Stock market today: US futures advance as chipmakers shine; oil rises

US stock futures rose in Friday’s early trades, after European and Japanese markets extended advances led by tech names.

Texas Instruments, Microchip, AMD, and Nvidia topped the S&P 500 risers in premarket trading, while Estee Lauder, O’Reilly Automotive, and Dominion Energy were among the decliners.

Bitcoin

Bitcoin traded near a one-month low in the absence of fresh catalysts, while the dollar held near the highest level since mid-December.

Middle East

Crude oil prices extended gains amid lingering fears that geopolitical tensions in the Middle East could disrupt supply.

Market overview:

Futures on the S&P 500 index climbed 0.3% to 4,825 points as of 4:55 a.m. ET, while similar contracts on the Nasdaq 100 gained 0.6% to 17,207.75.

European stocks remained in the green, with the Euro Stoxx 50 rising 0.3%. Germany’s DAX 40 index was 0.2% higher and France’s CAC 40 edged up 0.1%.

Trends were more mixed across Asian markets. Hong Kong’s Hang Seng index and the Shanghai Composite fell 0.5% each, but Japan’s Nikkei 225 rallied 1.4% to 35,963.30. India’s Nifty 50 rose 0.7%.

In the crypto market, bitcoin was at $41,341, trading in a tight range after Thursday’s 3.4% sell-off. Ether was a tad higher at $2,478.50.

The Dollar Index, which tracks the greenback against a basket of currencies, was stable near the highest level in more than a month.

Ten-year Treasury yields edged higher to 4.14%. Brent crude oil rose 0.7% to $79.63 a barrel.

About E. J. McKay

E.J.McKay is a Shanghai-headquartered investment bank with a special focus on mergers & acquisitions. We are one of the most long standing independent investment banks in China, with core business of mergers & acquisitions and financing advisory.