Check the bank for updates during the trading day.
U.S. stock futures rallied on Thursday as investors looked to recoup the previous session's pullback, which ended a two-week winning streak on Wall Street.
Stocks plunged over the last two hours of trading, sending the Nasdaq down 1.5%, even as Treasury yields extended their recent rally and underlying economic data showed existing home sales higher. stronger than expected and a firm movement. greater consumer confidence.
However, trading volumes were thin and some analysts attributed the decline to both year-end profit-taking and a rise in so-called OTDE options, which expire within 24 hours.
microns (IN) - Get a free report The smaller-than-expected loss in the fiscal first quarter, which was reported after the close of trading, and the chipmaker's strong near-term outlook provided an overnight boost to US stock futures, while limiting losses in Asia.
Related: Micron rises on AI-powered chip sales outlook and lower Q1 loss
The current rally in Treasuries is also likely to give markets fresh momentum ahead of weekly jobless claims and third-quarter GDP data at 8:30 a.m. ET.
Benchmark 10-year yields last fell 3 basis points (0.03 percentage point) to 4.884%, while 2-year bonds fell 1 basis point to 4.375%.
In other markets, oil prices fell after Department of Energy data showed record U.S. production of 13.3 million barrels per day. Along with a 2.9 million increase in inventories at the key delivery center in Cushing, Oklahoma, the report raised concerns about a drop in global demand.
Brent crude contracts for February delivery fell 24 cents to $79.46 a barrel, while WTI contracts for the same month, the new U.S. benchmark, fell 20 cents to $74.02 a barrel.
On Wall Street, futures contracts tied to the S&P 500, which is now up 4.4% for the month, indicate an opening gain of 22 points. Those linked to the Dow Jones Industrial Average suggest an advance of 158 points.
The Nasdaq, which is getting help from Micron's 6% premarket gain, is trading 106 points higher.
In Europe, the regional Stoxx 600 was down 0.5% in early trading in Frankfurt, while Britain's FTSE 100 was down 0.49% in London.
Overnight in Asia, Japan's Nikkei 225 closed 1.59% below its latest 33-year high to finish at 33,140.47 points, while the MSCI regional index excluding Japan fell 0.18% at the close of operations.
- Action Alerts PLUS offers expert portfolio guidance to help you make informed investment decisions. Register now.
