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Stocks Rise Pre-Bell as Traders Digest Waning Earnings Season; Asia, Europe Down
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Stocks Rise Pre-Bell as Traders Digest Waning Earnings Season; Asia, Europe Down
May 24, 2024 4:33 AM

07:11 AM EDT, 05/24/2024 (MT Newswires) -- The benchmark US stock measures were trending higher before Friday's open as investors assess the waning earnings season and await a couple of key economic reports.

The S&P 500 futures gained 0.3% while the Nasdaq and the Dow Jones Industrial Average added 0.2% each in premarket activity. Asian and European exchanges were tracking in the red.

Intuit's (INTU) shares dropped 6% pre-bell after the chipmaker issued a downbeat earnings outlook for its ongoing fiscal fourth quarter. Workday (WDAY) tumbled 12% as the cloud human resources company lowered its fiscal 2025 subscription sales guidance, amid slowing headcount growth.

Boeing ( BA ) edged up 0.7% after falling 7.6% at the close of Thursday's trading session. Ross Stores ( ROST ) advanced 6.9% as the discount store chain lifted its full-year earnings outlook.

Booz Allen Hamilton ( BAH ) and Buckle (BKE) report their latest financial results early Friday, among others.

On the economic calendar, the durable goods orders report for April posts at 8:30 am ET, followed by the final University of Michigan consumer sentiment report for this month at 10 am. The weekly Baker Hughes domestic oil-and-gas rig count is due at 1 pm.

Federal Reserve Governor Christopher Waller is scheduled to speak at 9:35 am.

Before the opening bell, bitcoin inched 0.1% higher to $67,352, West Texas Intermediate crude decreased 0.8% to $76.23 a barrel, yields on 10-year Treasuries retreated 0.2 basis points to 4.47% and gold inclined 0.3% to $2,345 an ounce.

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