Wall Street futures are indicating a moderate increase ahead of the market opening on Friday after tech giant Broadcom reported its earnings and a promising outlook on late Thursday. In the futures arena, the S&P 500 saw a rise of 0.3%, the Nasdaq increased by 0.6%, and the Dow Jones experienced an uptick of 0.2%. Broadcom's stock surged by 14.6% in pre-market trading following the tech-software designer's release of fourth-quarter earnings along with positive guidance.
CEO Hock Tan emphasized that the AI market is expanding and presents significant opportunities for growth. In addition, RH saw a substantial increase, gaining 17.2% in pre-market trading after the luxury home-furnishings retailer reported third-quarter earnings that exceeded expectations and provided an optimistic outlook following its after-bell announcement on Thursday. Asian markets faced mostly negative trading overnight after a state news agency's summary of a completed macroeconomic policy meeting in Beijing failed to impress investors.
Meanwhile, European markets were slightly lower around midday, although Germany's broad equity indices continue to challenge record highs. Looking ahead, the economic calendar features the November import and export prices bulletin scheduled for release at 8:30 am ET, followed by the weekly Baker Hughes domestic oil-and-gas rig count to be reported at 1 pm. In pre-market trading, Bitcoin was valued at $100,014, West Texas Intermediate crude oil rose to $70.61, and 10-year US Treasuries yielded 4.34%.
Spot gold was trading at $2,669 per ounce..