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Stocks Rise Pre-Bell as Traders Digest Broadcom Earnings, Wholesale Prices Data; Asia Down, Europe Strong
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Stocks Rise Pre-Bell as Traders Digest Broadcom Earnings, Wholesale Prices Data; Asia Down, Europe Strong
Dec 13, 2024 4:41 AM

07:25 AM EST, 12/13/2024 (MT Newswires) -- US equity futures were tracking in the green on Friday as investors assess Broadcom's ( AVGO ) latest results and producer prices data for last month.

Standard & Poor's 500 increased 0.3%, the Dow Jones Industrial Average inclined 0.3% and the Nasdaq added 0.7% in premarket activity. The majority of Asian exchanges were pointing lower, while most European bourses were trending upwards midday on the continent.

On Thursday, government data showed the US producer price index increased 0.4% in November, above the 0.2% Bloomberg-polled consensus estimate. Earlier in the week, the Bureau of Labor Statistics reported that consumer inflation accelerated in line with market estimates last month on both sequential and annual bases.

On Friday's economic calendar, the import and export prices report for November posts at 8:30 am ET, while the weekly Baker Hughes domestic oil-and-gas rig count is out at 1 pm.

Broadcom ( AVGO ) shares popped 15% pre-bell as the chipmaker reported stronger-than-expected fiscal fourth-quarter earnings. RH (RH) climbed 17% on the back of the home furnishing retailer's latest quarterly results. Costco Wholesale ( COST ) slipped 0.2% as the company reported mixed fiscal first-quarter results.

Before the opening bell, bitcoin traded up 0.4% at $100,355, West Texas Intermediate crude oil increased 0.9% to $70.68 per barrel, yields on 10-year Treasuries inclined 2 basis points to 4.34% and gold decreased 0.8% to $2,687 an ounce.

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