U.S. stock futures remained steady Tuesday evening (Wednesday AEDT), after the Dow Jones and the S&P 500 notched record high closes.
Futures tied to the Dow and the S&P 500 both rose by 0.04%. NASDAQ futures fell by 0.03%
Share prices were boosted today by news of a ceasefire between Israel and Hezbollah. U.S. president-elect Donald Trump announced a plan to impose tariffs of 25% on Mexico and Canada, though this has not dragged down the market.
The personal consumption expenditures price index will be released tomorrow, with economists expecting a 2.8% increase in the core reading. Personal income and consumer spending data are due the same day.
Technology firms Crowdstrike, Dell, and HP saw stocks drop after posting their earnings reports.
CrowdStrike’s Q3 revenue surpassed expectations, though its earnings per share this quarter will likely fall slightly short of estimates.
Dell reported US$24.37 billion in earnings for Q3, lower than the expected $24.67 billion, leading to a 10% fall in the company’s share price. HP’s earnings guidance for next quarter missed expectations by 9 to 15 cents, and shares dropped by 7%.
Meanwhile, semiconductor company Ambarella’s shares surged by 20%. Ambarella expects Q4 revenue of between US$76 million and $80 million, exceeding previous estimates of $69 million.
U.S. markets will be closed on Thursday and operate on reduced hours on Friday, due to the Thanksgiving holiday.
