U.S. stock futures were down on Thursday morning following the Christmas break. Futures on the Dow Jones Industrial Average (DJIA), the Nasdaq 100 (NDX), and the S&P 500 (SPX) trended lower by 0.16%, 0.18%, and 0.19%, respectively, at 3:56 a.m. EST, December 26.
On Tuesday, the stock market closed early, with the S&P 500 ending 1.1% higher, bringing the year-to-date rise to 27%. The Nasdaq 100 was up 1.4%, while the Dow Jones Industrial Average ended 0.9% higher on Tuesday. Traders remain hopeful of the “Santa Claus rally,” which refers to the favorable trend in equities during the last five trading days of the calendar year and the first two trading days of the new year.
In today’s key news, Taiwan’s Federal Trade Commission has blocked ride-hailing giant Uber Technologies (UBER) acquisition of Delivery Hero’s Foodpanda business on competitive concerns.
Coming to major economic releases, traders will be keenly watching the Initial Jobless Claims report to gain more insights into the state of the U.S. labor market.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.613% at the time of writing. At the same time, WTI crude oil futures are trending higher, hovering near $70.29 per barrel as of the last check.
Elsewhere, most of the European markets, including Germany, France, and the UK, are closed on Thursday on account of the Boxing Day holiday.
Asia-Pacific Markets Rise on Thursday
In Asia-Pacific, markets in Australia, New Zealand and Hong Kong were closed for the Boxing Day holiday.
Meanwhile, Japan’s Nikkei 225 Index closed higher by 1.12%, while the Topix was up 1.2%. News of Japan’s record $735 billion budget proposal for the new Fiscal Year starting in April moved the stocks higher.
In particular, shares of Japanese automakers Nissan and Honda advanced 6.58% and 3.84%, respectively, on news that they have commenced merger negotiations to create the world’s third-largest carmaker by sales.
Further, China’s Shanghai Composite and Shenzhen Component indices gained 0.14% and 0.67%, respectively.
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