U.S. stock futures traded on a mixed note on Friday morning. Interestingly, futures on the Nasdaq 100 (NDX) were up 0.33% at 3:46 a.m. EST, October 18, buoyed by Netflix’s (NFLX) impressive Q3 earnings report. Moreover, futures on the S&P 500 (SPX) were up 0.08%, while those on the Dow Jones Industrial Average (DJIA) were down 0.06%.
In regular trading on Thursday, the Dow reached a new all-time high, closing up 0.37%. However, the S&P 500 and the Nasdaq Composite remained relatively flat. Upbeat retail sales and weekly jobless claims data points released yesterday reinforced positive market sentiment.
For the week, the Dow Jones is poised to outshine other indices, with a potential gain of 0.9%. Further, the S&P 500 and Nasdaq Composite are set for positive weekly returns, up 0.5% and 0.2%, respectively.
In key stock market news, Taiwan Semiconductor (TSM) gained 9.8% on robust Q3 profits, driven by strong demand for AI chips. Also, Expedia (EXPE) stock was up over rumors of a potential takeover by Uber Technologies (UBER).
In the after-hours session, Netflix (NFLX) shares rose over 5% as the company surpassed Q3 expectations and reported a 35% jump in ad-tier memberships.
On the economic front, investors will be watching closely for economic data on housing starts and building permits today. Additionally, comments from central bank officials, including Atlanta Fed President Raphael Bostic and Minneapolis Fed President Neel Kashkari, will be closely monitored.
Several major companies, including American Express (AXP), Ally Financial (ALLY), Schlumberger (SLB), Autoliv (ALV), and Procter & Gamble (PG), are scheduled to report earnings before the market opens on Friday.
Meanwhile, the U.S. 10-year treasury yield was up slightly at the time of writing, floating near 4.112%. At the same time, WTI crude oil futures trended higher, hovering near $70.99 per barrel as of the last check.
Elsewhere, European markets opened mixed on Friday as investors digested the European Central Bank’s (ECB) latest rate cut. Also, traders are now focused on UK retail sales and Eurozone current account data.
Asia-Pacific Markets Traded Higher on Friday
Asia-Pacific indices traded in the green today. Investors celebrated stronger-than-expected GDP data from China and a decline in Japan’s annual inflation rate to 2.5% in September 2024, down from 3.0% in the previous month.
At the time of writing, Hong Kong’s Hang Seng index was up 3.48%. Further, Japan’s Nikkei 225 and Topix indices gained 0.18% and 0.04%, respectively. Also, China’s Shenzhen Component and Shanghai Composite indices closed higher by 2.91% and 4.71%, respectively.
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