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04 Dec 2024 | 09:58

US pre-open: Futures mixed following S&P 500's record close

(Sharecast News) - Wall Street futures were mixed ahead of the bell on Wednesday after the S&P 500 notched up another fresh record close. As of 1215 GMT, Dow Jones futures were down 0.17%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.05% and 0.40% firmer, respectively.

The Dow closed 76.47 points lower on Tuesday, extending losses recorded in the previous session, while the S&P 500 ticked up 2.73 points to close out the session at another all-time high.

Trade Nation's David Morrison said: " US stock index futures were sharply higher in early trade, shrugging off the broiling political turmoil across South Korea and France.

"Overall, investor sentiment remains positive, although few are in any doubt that it will take more energy to drive up equity prices now given the outstanding performance in November. All the majors had their best month of the year."

On the macro front, mortgage applications rose 2.8% in the week ended 29 November, according to the Mortgage Bankers Association, slowing from the previous week's 6.3% surge. Applications to refinance a mortgage retreated, while applications to purchase a home surged.

Still to come, ADP's November employment change figures will be released at 1315 GMT, while S&P Global's November composite and services PMIs will follow at 1445 GMT, and October factory orders data and the ISM's November services PMI will be published at 1500 GMT.

Comments from Federal Reserve chairman Jerome Powell at 1845 GMT will also draw an amount of investor attention.

In the corporate space, Salesforce shares surged in pre-market trading on the back of Q3 revenues that came in ahead of expectations on the Street.

Dollar Tree and Footlocker will both report earnings on Wednesday.







Reporting by Iain Gilbert at Sharecast.com
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