Technology stocks led US equity futures higher ahead of a profitable week, as investors await results from companies like Apple, Tesla and Facebook.
S&P 500 futures rose 0.2%, indicating an extension of the gains that brought the index closed nearly 2% higher. Notch set a record on Friday. Nasdaq 100 futures advanced 1%, indicating a rally in technology stocks after the opening bell.
China’s most valuable internet company, Tencent Holdings, has jumped nearly 11% to a record high in Hong Kong trading. Kuaishou Technology for Tencent Wallet, a video recording app similar to TikTok, has announced an upcoming initial public offering. You may estimate it at $ 60 billion. Amsterdam-listed shares in Brosus Technology Investment Group, one of Tencent’s largest shareholders, rose 5.5%.
More than a fifth of the broad S&P 500 and a third of the components of the Dow Jones Industrial Average are due to release earnings this week. Starbucks, Verizon and Microsoft on Tuesday. Other major tech companies deliver reports later in the week, including Apple, Tesla, and Facebook Wednesday.
“The way in which management communicates its expectations will be fundamental to the markets,” said Sophie Chardon, multi-asset strategist at Lombard Odier. “Investors will have to balance the possibility of vaccinations with the reality of the new closures” and the impact on each company.
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