Following the significant rebound seen during last Friday’s session, stocks may see further upside in early trading on Monday. The major index futures are currently pointing to a higher open for the markets, with the S&P 500 futures up by 0.8 percent.

Stocks may continue to benefit from bargain hunting, as the major averages regained ground in the previous session but remain well off the record highs set in December.

The markets are also likely to benefit from continued strength among tech stocks after contract electronics giant Foxconn reported record fourth quarter revenue amid strong AI server demand.

Foxconn is an assembly partner with AI darling and market leader Nvidia (NVDA), which is jumping by 2.6 percent pre-market trading.

Positive sentiment may also be generated in reaction to a Washington Post report suggesting President-elect Donald Trump may scale back his tariff plans.

After Trump called for “universal” tariffs of as high as 10 or 20 percent on everything imported into the U.S., the Washington Post said his aides are now exploring plans that would apply tariffs to every country but only cover “critical imports.”

However, traders may be somewhat reluctant to make significant moves ahead of the release of the Labor Department’s closely watched monthly jobs report on Friday.

The markets will also be closed on Thursday in observance of the National Day of Mourning in recognition of the passing of former President Jimmy Carter.

After trending lower for several sessions, stocks showed a strong move back to the upside during trading on Friday. The major averages all moved sharply higher, with the tech-heavy Nasdaq leading the charge.

The major averages pulled back off their best levels in late-day trading but remained firmly positive. The Nasdaq surged 340.88 points or 1.8 percent to 19,621.68, the S&P 500 jumped 73.92 points or 1.3 percent to 5,942.47 and the Dow climbed 339.86 points or 0.8 percent to 42,732.13.

Despite the rebound on the day, the major averages all moved lower for the holiday-interrupted week. The Dow slid by 0.6 percent, while the Nasdaq and the S&P 500 both fell by 0.5 percent.

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Monday. Japan’s Nikkei 225 Index slumped by 1.5 percent, while South Korea’s Kospi surged by 1.9 percent.

Meanwhile, the major European markets have all moved to the upside on the day. While the French CAC 40 Index has jumped by 1.5 percent, the German DAX Index is up by 1.0 percent and the U.K.’s FTSE 100 Index is up by 0.2 percent.

In commodities trading, crude oil futures are climbing $0.41 to $74.37 a barrel after jumping $0.83 to $73.96 a barrel last Friday. Meanwhile, after falling $14.30 to $2,654.70 an ounce in the previous session, gold futures are edging down $0.70 to $2,654 an ounce.

On the currency front, the U.S. dollar is trading at 156.37 yen versus the 157.26 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.0419 compared to last Friday’s $1.0308.

Business News




U.S. Stocks May Extend Last Friday’s Rebound In Early Trading

2025-01-06 13:56:45

Leave a Reply

Pantère Group

Infinity Building
Amstelveenseweg 500
1081 KL Amsterdam, Netherlands

E: Info@pantheregroup.com