Stock market today: Futures slightly higher, bitcoin consolidates gains
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- US stock futures made modest gains in Thursday's early trades, after European and Asian markets rose.
- Bitcoin consolidated recent gains as markets took in the SEC decision to approve ETFs in the token.
- Investors are awaiting the latest US inflation print due later today.
US stock futures made modest gains in Thursday's early trading, taking a cue from the buoyant trend in European and Asian equities, as investors positioned for the latest inflation data later today.
Japan's Nikkei 225 burst above 35,000 points for the first time in 34 years, taking its gains since the end of 2022 to more than 30%.
Bitcoin traded in a tight range as the market digested the Securities and Exchange Commission's landmark decision to approve exchange-traded funds investing in the digital token — a move that's expected to make it easier for the public to participate in the crypto sector.
VICI Properties, GE Healthcare, Arista Networks, and Occidental Petroleum were among Thursday's top premarket gainers among S&P 500 stocks, while Xcel Energy, Humana, and Citigroup led declines.
Markets overview
- Futures on the S&P 500 rose 0.16% or 4,827.75 as of 5 a.m. ET, while similar contracts on the Nasdaq 100 climbed 0.34% to 17,003.25.
- European stocks were in the green, with Euro Stoxx 50 advancing 0.4%. Germany's DAX 40 index and France's CAC 40 rose 0.4% and 0.3%, respectively.
- In Asia, Japan's Nikkei 225 jumped 1.8% to 35,049.79, closing at the highest level since early 1990. Hong Kong's Hang Seng index rallied 1.3%, while the Shanghai Composite gained 0.3%. India's Nifty 50 was up 0.1%.
- In the crypto market, bitcoin was 0.2% higher at $46,790. Ether advanced 1.2% to 2,615.22, building on its 10.2% jump on Wednesday.
- The dollar was stable, while the 10-year Treasury yield was steady at 4%. Brent crude oil rose 1.4% to $77.09 a barrel.
Top movers:
Here are some of the top premarket movers among S&P 500 stocks:
- GE Healthcare: Shares rose 2.4% to $78 following the medical technology firm's recent acquisition of MIM Software, which specializes in diagnostic imaging.
- Occidental Petroleum: The stock gained 1.7% to $57.73 after an SEC filing on Wednesday showed Warren Buffett's Berkshire Hathaway continued to ramp up its stake.
- Yum! Brands: The KFC and Pizza Hut owner's shares slid 5% to $122.75.
- Xcel Energy: The shares were down 2% to $61.46 in premarket trades.
- Citigroup: The bank's stock declined 1.2% to $52.37 after a filing showed it set aside almost $4 billion for reserves and charges, possibly affecting its fourth-quarter results.
