U.S. stock futures inched slightly higher on Friday, after the S&P 500 (SPX) recorded its fourth consecutive day of gains. This positive momentum was largely due to the easing of the U.S.-China trade tensions. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 were up 0.2%, 0.23%, and 0.18%, respectively, at 4:08 a.m. EST, May 16.
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During Thursday’s regular trading session, the Nasdaq Composite (NDAQ) declined by 0.18%. In contrast, the S&P 500 and the Dow Jones rose 0.41% and 0.65%, respectively. Much of the recent market rally has been driven by a strong rebound in major tech stocks. This week, Nvidia (NVDA) and Tesla (TSLA) have each gained around 15%, while Meta Platforms (META) and Amazon (AMZN) have risen 8% and 6%, respectively.
Turning to key earnings, Walmart (WMT) stock was little changed after posting its Q1 FY26 results, with the retailer cautioning that elevated tariffs could lead to price increases. Meanwhile, Alibaba (BABA) gained 2% in premarket trading after reporting mixed Q4 FY25 results on Thursday.
Looking ahead, traders are awaiting the release of housing starts data and the University of Michigan’s consumer sentiment data for further insights into the economy’s health.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.41%. Simultaneously, WTI crude oil futures are trending higher, hovering near $61.68 per barrel as of the last check.
At the same time, the Gold Spot U.S. Dollar Price fell to $3,208 per ounce on Friday, as easing U.S.-China trade tensions and a stronger dollar reduced safe-haven demand.
Asia-Pacific Markets Traded Mixed on Friday
Most Asia-Pacific indices were mixed today as investors reviewed Japan’s latest gross domestic product (GDP) numbers and awaited more economic data from the region.
Hong Kong’s Hang Seng Index was down 0.42%. At the same time, China’s Shenzhen Component index was down 0.067% and Shanghai Composite index was down 0.40%. Meanwhile, Japan’s Nikkei index traded flat to close at 37,753.72, while Topix index gained 0.054%.
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