The US stock market is poised for a positive start as key inflation data aligns with analysts’ forecasts, signaling potential shifts in investor sentiment. Futures for the Dow Jones Industrial Average have increased by 0.49%, indicating a bullish perspective. Similarly, S&P 500 and Nasdaq futures show modest gains of 0.29% and 0.10%, respectively, suggesting that investors are reacting favorably to the recent economic indicators.
Oil prices, however, are experiencing downward pressure, with Brent crude and West Texas Intermediate crude oil prices decreasing by 1.05% and 1.21%. In terms of inflation, the January core personal consumption price index (PCE) revealed a slowdown to an annual rate of 2.6%, down from 2.9% in December, adhering to analyst predictions.
Additionally, the monthly core PCE price index saw an increase of 0.3% in January compared to 0.2% in December, further supporting the narrative of controlled inflation and stability in consumer prices. Global markets are also reacting, with Japan’s Nikkei index witnessing a substantial drop of 2.88%, and Hong Kong’s Hang Seng facing a significant decline of 3.28%.
The Chinese Shanghai Composite also fell by 1.98%. In contrast, Europe shows mixed responses; the UK's FTSE 100 index is slightly up by 0.38%, while Germany's DAX and France's CAC 40 indices have reported losses of 0.51% and 0.46%, respectively. Diving deeper into individual stock performances, companies have seen varied results in today's trading.
Interactive Strength has surged by an impressive 32%, which builds on a robust 22% increase from Thursday’s trading session. Meanwhile, BioXcel Therapeutics reported a 17% gain after announcing that it has regained compliance with Nasdaq's minimum closing bid price requirement. OneConnect Financial Technology made a notable advancement of 18% following a previous loss of 4%.
Similarly, Organogenesis shares climbed by 18%, recovering from a 5.5% decline experienced the day before. On the flip side, there were significant losses for several companies. Shares of DocGo plummeted by 22% after Deutsche Bank downgraded the stock from 'buy' to 'hold', revising the price target down to $2.85 from $5.
Mustang Bio witnessed a sharp decline of 26% following its report about exiting its manufacturing facility lease in Worcester, Massachusetts, alongside divesting certain fixed assets. Iovance Biotherapeutics experienced a drop of 23% after already losing 1.7% on Thursday. DLocal's stock dropped 25% after announcing that their fourth-quarter earnings and revenue fell short of analyst expectations, and NetApp shares went down by 17% following disappointing fiscal Q3 earnings and a revision of their fiscal 2025 EPS guidance..