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Investors Cautious Ahead of Next Week's Tech Earnings Slate, Fueling Narrow Premarket Gains for US Equity Futures
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Investors Cautious Ahead of Next Week's Tech Earnings Slate, Fueling Narrow Premarket Gains for US Equity Futures
Nov 3, 2024 11:33 AM

08:55 AM EDT, 10/25/2024 (MT Newswires) -- US equity futures posted modest gains ahead of Friday's opening bell as traders brace for key technology earnings scheduled for release next week.

The Dow Jones Industrial Average futures gained 0.2%, S&P 500 futures increased 0.3%, and Nasdaq futures were up 0.4%.

Alphabet (GOOG, GOOGL), Microsoft ( MSFT ) , Meta Platforms ( META ) , Apple ( AAPL ) , and Amazon ( AMZN ) are all due to report next week.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.1% at $75.22 per barrel and US West Texas Intermediate crude 1.1% higher at $71.04 per barrel.

New orders for durable goods, released at 8:30 am ET, fell by 0.8% in September to match the previous month's decline, compared with estimates compiled by Bloomberg for a 1% drop.

The Consumer Sentiment Index, slated for 10 am ET, is expected to ease to 68.9 in October versus 70.1 previously.

In other world markets, Japan's Nikkei closed 0.6% lower, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 0.6% higher. Meanwhile, the UK's FTSE 100 flatlined, and Germany's DAX index gained 0.1% in Europe's early afternoon session.

In equities, shares of Tapestry (TPR) were up 14% pre-bell after a federal court blocked the company's proposed takeover of Capri (CPRI). Deckers Outdoor ( DECK ) shares rose 13% after the company lifted its fiscal 2025 revenue outlook.

On the losing side, Capri shares slumped nearly 47%. Coursera ( COUR ) shares fell nearly 22% after the company cut its 2024 revenue outlook.

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