NEW YORK / LONDON (IT BOLTWISE) – The US stock markets are optimistic ahead of the long Thanksgiving weekend. Investors are hoping for a possible rate cut in December, which will lift market sentiment. Despite mixed corporate news and weak economic data, the prospect of profits remains.
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Investors on the US stock markets are optimistic about the coming trading days, even though the long Thanksgiving weekend is approaching. The hope of a possible cut in key interest rates by the US Federal Reserve in December is creating a positive mood. The Dow Jones Industrial is estimated to be slightly higher in the premarket, while the NASDAQ 100 recorded an increase of 0.4 percent. These developments point to solid weekly gains despite trading being suspended on Thursday and Friday due to the holiday.
Recent statements from Jerome Powell, the head of the US Federal Reserve, as well as weak economic data have reignited expectations of a rate cut. Before trading begins, weekly initial jobless claims and industrial order intake data could provide further stimulus. Later in the day, the US Federal Reserve’s economic report, the so-called “Beige Book”, is expected, which could provide additional insight into the economic situation.
Urban Outfitters stands out among the companies that have recently reported positive news. The retailer was able to convince with an increase in sales and earnings in the last quarter, which caused the shares to rise by 15 percent in the premarket. Autodesk is also showing a recovery after the software company exceeded expectations with its quarterly figures. Analysts at Deutsche Bank have upgraded the shares and now recommend buying them.
In the technology sector, Alphabet could continue its record hunt. The market capitalization is approaching the four trillion dollar mark, which so far only NVIDIA and Apple have been able to scratch. A report about possible billion-dollar investments by Meta in AI chips from Google parent has given Alphabet an additional boost. In contrast, NVIDIA is faced with moderate share price losses.
Mixed news comes from the hardware sector. While Dell scored with positive quarterly figures and an increased sales target for AI servers, HP Inc disappointed with a weak earnings outlook. The company plans to save up to 6,000 jobs through increased use of artificial intelligence. Deere also suffered a setback as the agricultural machinery manufacturer’s profit target was not convincing, which led to a pre-market decline in share price.
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