[US Pre-Market] Semiconductors Surge Across the Board, Lifting Three Major US Index Futures, Oil Prices Under Pressure With Negotiations Imminent
TradingKey - Boosted by robust earnings, Intel's U.S. pre-market gains at one point expanded to 30%, while simultaneously driving the technology sector higher. Nasdaq 100 futures rose 1.5%, as strength in tech stocks pushed all three major index futures upward, with Dow futures rising 0.13% and S&P 500 futures advancing 0.56%.
Market Volatility
Nasdaq 100 futures rose 0.7% after Intel (INTC) issued strong earnings guidance. Previously, Intel's first-quarter revenue, gross margin, and earnings per share all exceeded the upper end of its guidance, marking the company's sixth consecutive quarter of beating financial expectations. In U.S. pre-market trading, Intel's gains once widened to 30%. Driven by this, AMD also trended higher, with gains exceeding 10% as of press time.
Oil prices reversed from gains to losses, with WTI crude futures falling more than 2% after an earlier surge of over 2%, while Brent crude futures fell more than 1% after rising nearly 2%.
Market News
Earlier on April 24 local time, Pakistani government sources stated that Iranian Foreign Minister Araghchi would lead a delegation to Islamabad that evening, though no timeline was provided for when U.S.-Iran talks would occur.
The Chairman of the Swiss National Bank declared that there are currently no plans to increase or decrease gold reserves.
The U.S. military stated that three aircraft carriers are deployed in the Middle East simultaneously for the first time in decades. U.S. Central Command posted on social media on April 24 local time that, for the first time in decades, three aircraft carriers are executing missions in the Middle East concurrently.
Key Data and Events Preview
The Bank of Russia will announce its interest rate decision on April 24
Verizon will release its earnings report on April 27, Eastern Time
The Bank of Japan will announce its interest rate decision and economic outlook report on April 28, local time
Coca-Cola will release its earnings report on April 28, Eastern Time
Visa will report its earnings on April 28, Eastern Time
Nothing in this material constitutes investment advice, personal recommendation, investment research, an offer, or a solicitation to buy or sell any financial instrument. The content has been prepared without consideration of your individual investment objectives, financial situation, or needs, and should not be treated as such.
Past performance is not a reliable indicator of future performance and/or results. Forward-looking scenarios or forecasts are not a guarantee of future performance. Actual results may differ materially from those anticipated.
Mitrade makes no representation or warranty as to the accuracy or completeness of the information provided and accepts no liability for any loss arising from reliance on such information.
Recommended Articles
