5 Things To Know Before The Stock Market Opens

Stock futures were higher early Friday, pinch nan Nasdaq looking to return to gains while and nan Dow successful position to break its losing streak; chipmaker Broadcom (AVGO) soared arsenic it reported beardown gross maturation connected surging artificial intelligence (AI) sales; Costco Wholesale (COST) hit net estimates successful its first study since raising its rank fee; furnishings retailer RH (RH) jumped aft posting a quarterly profit and raising request projections; Apple (AAPL) shares moved higher connected expert optimism complete nan company's AI products.

Here's what investors request to cognize today.

1. Stock Futures Higher As Dow Poised to Break Losing Streak

Stock futures were higher premarket aft markets gave backmost immoderate caller gains successful nan prior session. The Nasdaq was higher by 0.5% successful early trading aft nan tech-focused scale fell beneath 20,000 aft crossing nan level for nan first time. Futures trading tied to nan S&P 500 was precocious up by 0.3%, while Dow Jones Industrial Average futures were higher by 0.2%, coming arsenic nan scale has posted six consecutive losing sessions. Investors will get import and export pricing data today. Bitcoin (BTCUSD) traded astir $100,500. Oil futures were higher by much than 1%, while golden futures were little by 0.9%.  An parameter connected liking rates, yields connected nan 10-year Treasury statement roseate to astir 4.35%.

2. Broadcom Jumps arsenic Sales Surge, AI Revenue Triples

Broadcom shares were higher by almost 15% successful premarket trading aft nan chipmaker reported quarterly net that topped analysts’ expectations and full-year artificial intelligence (AI) gross that more than tripled. The institution saw fourth-quarter gross turn 51% year-over-year to much than $14 billion, astir successful statement pinch expert statement compiled by Visible Alpha. The representation spot shaper reported nett income of $4.32 cardinal aliases 90 cents per share, up from $3.52 cardinal aliases 83 cents per stock a twelvemonth earlier and supra consensus. The results travel aft Broadcom posted a nonaccomplishment of $1.88 cardinal successful nan erstwhile quarter, owed successful portion to accrued expenses related to its November 2023 acquisition of package institution VMware.

3. Costco Wholesale Grows Revenue After Increasing Membership Fee

Costco Wholesale exceeded net expectations successful its first quarterly study since nan company’s increased rank fees went into effect successful September. The retailer saw gross turn 7.5% to much than $62 billion, conscionable supra nan expert statement from Visible Alpha, while its nett income of $1.8 cardinal aliases $4.04 per stock was up from $1.59 billion, aliases $3.58 per share, a twelvemonth earlier. Costco's e-commerce income accrued 13%, while same-store income were up 5.2% successful nan U.S. Costco banal was small changed successful premarket trading.

4. Furniture Retailer RH Soars After Turning Profit, Projecting Demand Growth

Furniture retailer RH (RH) banal soared successful premarket trading aft it swung to a profit and raised its outlook. The institution posted a third-quarter nett profit of $33.2 million, aliases $1.66 a share, turning astir a nonaccomplishment of $2.2 million, aliases 12 cents a share, from nan aforesaid play a twelvemonth earlier. RH reported an 8% emergence successful third-quarter revenue, to $811.7 million. The institution said it was raising its fourth-quarter outlook for gross maturation to 18% to 20%. The turnaround comes arsenic a sluggish lodging marketplace has impacted request for nan company’s products.

5. Apple Stock Hits Record High connected AI Optimism

Investors were watching Apple (AAPL) aft it set different grounds closing precocious Thursday arsenic optimism grows that nan iPhone maker’s AI features could accelerate income growth. This week nan institution rolled retired further Apple Intelligence features crossed its devices done its iOS 18.2 operating system, including ChatGPT integration pinch Siri. In a caller investigation note, Wedbush expert Dan Ives said that he expects Apple to beryllium nan first institution to scope a $4 trillion market capitalization connected gains driven by AI demand. Shares of Apple were marginally higher successful premarket trading. 

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