Futures Are Climbing Higher In The Pre-Market Riding The Tailwinds of Nvidia's Impressive Earnings Release
U.S. stock futures are higher. Futures are climbing higher in the pre-market, riding the tailwinds of Nvidia’s impressive earnings release yesterday evening. The report is lifting the technology sector and other chipmakers ahead of the open. Yields are ticking higher this morning after yesterday’s retreat off peak levels made earlier in the week. Initial jobless claims came in at 230k which was lower than the prior week reading of 239k and estimates of 241k. Durable goods orders for July declined by -5.2%. The negative reading reverses a trend of growth over the four months prior and exceeded estimates of a more modest-4.0% decline. The spotlight now pivots to the remarks from Federal Reserve Chairman Jay Powell, slated to be delivered at the Jackson Hole Symposium tomorrow at 10 AM. In international markets, Asian markets closed higher lead by gains in the Hong Kong Hang Seng index. In Europe, markets are higher but retracing earlier gains. The Dollar is strengthening, while crude oil continues a recent decline and gold prices are also moving lower.
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