Futures Pointing To Modestly Higher Open As Trading Resumes

(RTTNews) - The major U.S. index futures are currently pointing to a modestly higher open for the markets on Friday as futures trading recently resumed after a "cooling issue" at a data center halted trading on the Chicago Mercantile Exchange earlier in the morning.

The trading disruption at the CME along with an early close on Wall Street may lead to below average trading activity going into the weekend.

A lack of major U.S. economic data may also keep some traders on the sidelines ahead of next week's reports on manufacturing and service sector activity and private sector employment.

Nonetheless, stocks may continue to benefit from recent upward momentum, which contributed to a four-day winning streak for the markets ahead of yesterday's holiday.

The markets have recently benefitted from renewed optimism about the outlook for interest rates following dovish comments from some Federal Reserve officials.

CME Group's FedWatch Tool indicates the chances the Fed will lower rates by another quarter point next month have soared to 86.9 percent.

Stocks moved mostly higher over the course of the trading session on Wednesday, extending the upward trend seen over the past few sessions. The major averages moved to the upside in morning trading and remained firmly positive throughout the afternoon.

The major averages closed higher for the fourth consecutive session, continuing to claw their way back towards their record highs. The Dow climbed 314.67 points or 0.7 percent to 47,427.12, the Nasdaq jumped 189.10 points or 0.8 percent to 23,214.69 and the S&P 500 advanced 46.73 points or 0.7 percent to 6,812.61.

Stocks continued to benefit from recent upward momentum, which has helped the major averages rebound strongly from the significant pullback seen earlier in the month.

Traders seem to have shrugged off the valuation concerns that recently weighed on the markets and dragged the Nasdaq and the S&P 500 down to their lowest levels in over two months.

The markets also continued to benefit from renewed optimism about the outlook for interest rates.

According to the FedWatch Tool, the chances of a rate cut are little changed from Tuesday despite the release of some upbeat U.S. economic data.

The Commerce Department released a long-delayed reported this morning showing new orders for U.S. manufactured durable goods increased by more than expected in the month of September.

The report said durable goods orders climbed by 0.5 percent in September after spiking by an upwardly revised 3.0 percent in August.

Economists had expected durable goods orders to rise by 0.3 percent compared to the 2.9 percent surge that had been reported for the previous month.

A separate report released by the Labor Department showed an unexpected dip by first-time claims for U.S. unemployment benefits in the week ended November 22nd.

The Labor Department said initial jobless claims slipped to 216,000, a decrease of 6,000 from the previous week's revised level of 222,000.

Economists had expected jobless claims to inch up to 225,000 from the 220,000 originally reported for the previous week.

With the unexpected dip, jobless claims fell to their lowest level since hitting a matching number in the week ended April 12th.

Gold stocks moved sharply higher amid an increase by the price of the precious metal, driving the NYSE Arca Gold Bugs Index up by 4.9 percent to its best closing level in well over a month.

Substantial strength was also visible among airline stocks, with the NYSE Arca Airline Index soaring by 3.2 percent to a one-month closing high.

Computer hardware and semiconductor stocks also saw significant strength on the day, contributing to the continued advance by the tech-heavy Nasdaq.

Brokerage, steel and natural gas stocks also showed strong moves to the upside, moving higher along with most of the other major sectors.

Commodity, Currency Markets

Crude oil futures are rising $0.21 to $58.86 a barrel after climbing $0.70 to $58.65 a barrel on Wednesday. Meanwhile, after jumping $25 to $4,202.30 ounce in the previous session, gold futures are increasing $11.60 to $4,213.90 ounce.

On the currency front, the U.S. dollar is trading at 156.10 yen versus the 56.30 yen it fetched on Thursday. Against the euro, the dollar is valued at $1.1571 compared to yesterday's $1.1595.

Asia

Asian stocks turned in a mixed performance on Friday as Chinese industrial profits data disappointed and China Vanke proposed delating repayment of an onshore bond, rekindling worries about China's property market.

Tech stocks led losses after Taiwan raided homes belonging to an Intel vice president as part of an investigation into alleged trade secret leaks to U.S. chipmaker Intel.

Gold was on track for its fourth monthly gain as the dollar weakened amid investor optimism that the Federal Reserve will cut interest rates in December. Oil headed for the longest run of monthly losses in more than two years on oversupply concerns.

China's Shanghai Composite Index rose 0.3 percent to 3,888.60 after JPMorgan Chase & Co. raised its recommendation for Chinese stocks to "overweight," citing multiple positive drivers.

Hong Kong's Hang Seng Index slipped 0.3 percent to 25,858.89. Alibaba Group Holding shares rose 0.6 percent after the company launched its Quark AI-powered smart glasses in China, marking a major step into consumer AI hardware.

Japanese markets edged slightly higher, while the yen was little changed after data showed Tokyo consumer price inflation remained unexpectedly elevated in November amid high food prices, keeping the Bank of Japan on track for an interest-rate hike in coming months.

Japan's unemployment rate in October came in at 2.6 percent, exceeding the market forecast of 2.5 percent. Industrial production rose 1.4 percent month-on-month, while retail sales increased 1.7 percent from a year earlier, separate data revealed.

The Nikkei 225 Index inched up 0.2 percent to 50,253.91, while the broader Topix Index settled 0.3 percent higher at 3,378.44.

Seoul stocks tumbled after the release of mixed economic data, with retail sales surging 3.5 percent month-on-month in October to end two straight months of negative readings, while industrial output posted its steepest decline in nearly six years in the month.

The Kospi slumped 1.5 percent to 3,926.59, snapping a three-day rally amid declines in tech and battery stocks. LG Energy Solution lost 6.9 percent, Samsung Electronics gave up 2.9 percent and SK Hynix shed 2.6 percent.

Australian markets ended a choppy session little changed after firmer jobs and inflation data dented hopes of near-term policy easing.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 Index rose 0.4 percent to 13,489.15, rebounding from Thursday's losses.

Europe

European stocks have moved modestly higher on Friday and are set for a monthly gain on rising bets of a Federal Reserve interest rate cut in December and growing hopes for a peace deal between Russia and Ukraine.

Currently, the German DAX Index, the French CAC 40 Index and the U.K.'s FTSE 100 Index are all up by 0.2 percent.

In economic news, German retail sales unexpectedly dropped in October, official data revealed earlier today.

Retail sales decreased 0.3 percent month-on-month, offsetting the 0.3 percent increase in September, Destatis said. Economists had forecast a monthly increase of 0.1 percent.

Delivery Hero has soared. The food delivery company is facing pressure from several major shareholders to consider selling the company or divesting parts of its business.

Deutsche Boerse shares have also moved to the upside. The German stock exchange operator said it is in exclusive talks to acquire European fund distribution platform Allfunds Group Plc in a €5.3 billion ($6.1 billion) cash and stock deal.

Meanwhile, Laurent-Perrier gas declined in Paris after it reported an 8.7 percent drop in group share net profit for the first half of its 2025-26 fiscal year.

U.S. Economic News

No major U.S. economic data is scheduled to be released today.