Close Navigation
Learn more about IBKR accounts

Pre-open strength in semiconductor stocks and mega caps boosting market

Posted January 19, 2024
Briefing.com

The S&P 500 futures are up 18 points and are trading 0.5% above fair value, the Nasdaq 100 futures are up 100 points and are trading 0.8% above fair value, and the Dow Jones Industrial Average futures are up 163 points and are trading 0.5% above fair value.

Ongoing strength in mega cap and semiconductor stocks has boosted the broader market ahead of the open. NVIDIA (NVDA) is a top performer in that respect after Meta Platforms (META) CEO Mark Zuckerberg posted on Instagram that the company is purchasing AI products including 350k H100s (NVDA) by the end of this year. 

The positive bias also stems from favorable reactions to some earnings news, like Dow component Travelers (TRV), which is up more than 5.0% pre-open.

Treasury yields turned higher, but equity futures maintained their positive bias. 2-yr note yield is up three basis points to 4.36% and the 10-yr note yield is up one basis point to 4.15%.

In other news, Houthi militants fired missiles at a US owned commercial vessel, according to Bloomberg.

Today’s economic calendar features:

  • 10:00 ET: December Existing Home Sales (Briefing.com consensus 3.80 mln; prior 3.82 mln) and preliminary January University of Michigan Consumer Sentiment (Briefing.com consensus 68.8; prior 69.7)
  • 16:00 ET: November net Long-Term TIC Flows (prior $3.3 bln)

Originally Posted January 19, 2024 – Pre-open strength in semiconductor stocks and mega caps boosting market

Join The Conversation

If you have a general question, it may already be covered in our FAQs. If you have an account-specific question or concern, please reach out to Client Services.

Leave a Reply

Your email address will not be published. Required fields are marked *

Disclosure: Interactive Brokers

Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Briefing.com and is being posted with its permission. The views expressed in this material are solely those of the author and/or Briefing.com and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

IBKR Campus Newsletters

This website uses cookies to collect usage information in order to offer a better browsing experience. By browsing this site or by clicking on the "ACCEPT COOKIES" button you accept our Cookie Policy.