By Oliver Gray
Investing.com - U.S. stock futures were trading slightly higher in early APAC deals on Thursday, following a mixed close in the previous session as easing long term bond yields allowed major technology stocks to recover, while energy companies gained on higher oil prices and financials closed mixed.
During Wednesday’s regular trade, The Dow Jones Industrial Average lost just 9.42 points to 35,804.38. The S&P 500 added 10.76 points or 0.23% to 4,701.46 and the Nasdaq Composite added 70.09 points 0.44% to finish at 15,845.23.
Dow Jones 30 Futures added 0.08%, S&P 500 Futures was up 0.07% while Nasdaq 100 Futures were down 0.03%
Among stocks, Tesla Inc (NASDAQ:TSLA) finished the regular session 0.63% higher after financial filings revealed that CEO Elon Musk sold a further $1.05 billion in stock on Tuesday evening. Other technology names also closed higher, with Meta Platforms Inc (NASDAQ:FB) up 1.13%, Microsoft Corporation (NASDAQ:MSFT) adding 0.07%, Apple Inc (NASDAQ:AAPL) up 0.33%, Alphabet Inc Class A (NASDAQ:GOOGL) up 0.23%, Adobe Systems Incorporated (NASDAQ:ADBE) lifting 0.48% and NVIDIA Corporation (NASDAQ:NVDA) up 2.92%.
Energy companies also lifted amid higher Oil prices as Exxon Mobil Corp (NYSE:XOM) gained 0.55% and Chevron Corp (NYSE:CVX) added 0.77% and ConocoPhillips (NYSE:COP) gained 1.42%. Meantime, heavyweight financial stocks were mixed, with JPMorgan Chase & Co (NYSE:JPM) down 0.78%, Citizens Financial Group Inc (NYSE:CFG) up 0.39%, Bank of America Corp (NYSE:BAC) adding 0.27% and Citigroup Inc (NYSE:C) down 1.16%.
Autodesk Inc (NASDAQ:ADSK) shed 15.49% after reporting fourth quarter earnings and revenue guidance that were largely below estimates. HP Inc (NYSE:HPQ) surged 10.10% after a better-than-expected earnings report, posting an adjusted quarterly profit of 94 cents per share, 6 cents above the Refinitv consensus estimate. Dell Technologies Inc (NYSE:DELL) added 4.81% after reporting better than expected quarterly earnings amid growing demand for its computers and servers, and issued a stronger than expected current-quarter forecast.
In policy news, the U.S. Federal Reserve on Wednesday released the minutes from the November session as policymakers engaged in a lively discussion about inflation, expressing that persistently rising inflation would warrant an adjustment of asset purchases and an increase in the target range for the federal funds rate sooner that currently anticipated.
Among data, initial jobless claims fell to 199,000, the lowest level in more than 52 years, easily beating analyst expectations of 260,000 and well below the previous week’s 270,000. Meantime, second-quarter GDP growth was revised up slightly to 2.1%, though that was below estimates for 2.2%. Also, durable goods orders declined 0.5%, worse than expectations of a 0.2% gain.
On the bond markets, United States 10-Year rates were at 1.643%.
U.S. markets will remained closed on Thursday for Thanksgiving holiday.