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Stocks Rebound Pre-Bell After Tech Sell-Off; Asia Mixed, Europe Rises
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Stocks Rebound Pre-Bell After Tech Sell-Off; Asia Mixed, Europe Rises
Jan 28, 2025 4:41 AM

07:18 AM EST, 01/28/2025 (MT Newswires) -- US benchmark equity indexes were pointing higher before the open Tuesday as technology stocks make a recovery after closing the previous session lower amid the launch of a new open-source model from Chinese artificial intelligence startup DeepSeek.

Standard & Poor's 500 increased 0.3%, the Dow Jones Industrial Average was up slightly and the Nasdaq added 0.5% in premarket activity. Asian exchanges were mixed to lower, while European bourses were tracking in the green midday on the continent.

DeepSeek recently launched a large language model that Wedbush Securities said "rivals" Microsoft ( MSFT ) -backed OpenAI's ChatGPT and Meta's (META) Llama 3.1.

Shares of Nvidia ( NVDA ) rebounded 3.5% pre-bell after closing the previous session down 17%, while Broadcom ( AVGO ) rose 3.9% and Oracle (ORCL) inclined 3.3%, among others.

RTX (RTX), Boeing ( BA ) , Lockheed Martin ( LMT ) , Royal Caribbean Cruises ( RCL ) , General Motors ( GM ) , Kimberly-Clark ( KMB ) , Sysco ( SYY ) and JetBlue Airways ( JBLU ) report their latest financial results before the bell, among others. Stryker (SYK), Starbucks ( SBUX ) and Packaging Corp. of America ( PKG ) post earnings after markets close.

On the economic calendar, the durable goods orders report for December is out at 8:30 am ET, followed by the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for November, at 9 am. The Conference Board's consumer confidence report and the Richmond Fed Manufacturing Index, both for January, are scheduled for a 10 am release.

Before the opening bell, bitcoin increased 1.9% to $102,756, West Texas Intermediate crude oil gained 0.5% to $73.50 a barrel, yields on 10-year Treasuries advanced 4.1 basis points to 4.57% and gold moved up 0.4% to $2,748 an ounce.

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