FactSet U.S. Daily Market Preview

US equity futures are modestly higher. Asian markets were broadly stronger, while European equities are trading firmer. Markets are stabilizing after pushback against earlier AI disruption fears, with sentiment helped by the Anthropic enterprise event emphasizing partnerships rather than displacement. A major AMD compute deal with Meta and expectations for Nvidia earnings are supporting the chip and AI infrastructure theme. President Trump’s State of the Union highlighted economic achievements and outlined retirement and healthcare proposals, while striking a measured tone on tariffs and Iran. Consumer confidence improved in the latest reading, though regional manufacturing data remained soft, and Fe...

US equity futures are modestly higher. Asia equities closed mixed and European equity markets are trading lower. The dominant themes remain AI disruption and trade uncertainty. Software continues to be at the center of the selloff, while investors debate the potential impact of AI agents on intermediation-heavy business models. Trade policy is again in focus after President Trump shifted to alternative tariff authorities, warning of steeper measures for countries that “play games,”. Geopolitical risks are also building ahead of US-Iran talks later this week, with reports of a possible limited US strike adding to volatility in energy markets. Fed Gove...

US equity futures are pointing sharply lower to start the week, with Asian markets broadly higher and European equities trading a weaker open. Markets are reacting to Friday’s Supreme Court ruling striking down the IEEPA tariffs, followed immediately by President Trump announcing a new global tariff rate of 10%, later raised to 15% under a different authority. The move has injected fresh uncertainty into the trade landscape, with expectations that the administration will pursue additional trade investigations to restore its effective tariff rate. Questions also remain around potential tariff refunds after the court offered no clear guidance. The ruling and su...

US equity futures are pointing modestly higher, with Asian markets mixed and European equities trading firmer. US equities finished mostly lower on Thursday while energy stocks outperformed as crude extended gains, supported by escalating Middle East tensions and reports the US could act within days if negotiations with Iran fail. President Trump signaled a potential deal or alternative action within a ten-day window, keeping geopolitical risk in focus. Economic data surprised to the upside in labor and manufacturing, though housing remained soft, reinforcing the broader resilient macro narrative. Fed commentary highlighted firming goods inflation and debate around the pace...

US equity futures are pointing modestly higher, with Asian markets broadly stronger and European equities trading lower. US equities finished higher on Wednesday, led by strength in big tech, high-beta names and most-shorted stocks, with memory, semis and software also rebounding. Treasury yields moved higher and the dollar strengthened following hawkish-leaning FOMC minutes, though markets continue to price in two additional rate hikes. Oil rallied sharply on concerns around potential US-Iran hostilities, supporting energy shares, while precious metals also advanced. Economic data came in broadly better than expected. Attention now turns to upcoming earnings, jobless claims, trade data and...

US equity futures are pointing modestly higher, with Asian markets firmer and European equities advancing. There was little change in the overarching narrative. Big tech was mixed, software resumed its pullback after a brief stabilization, and financials rebounded following recent weakness. The yield curve continued to flatten with a bearish tilt, while a firmer dollar weighed on precious metals. Corporate updates were largely underwhelming, though M&A and activist activity picked up. Fed commentary remained cautious, with officials signaling openness to rate cuts later this year but emphasizing the need for clearer evidence that inflation is returning to target.<...

US equity futures are under pressure following a mostly higher Friday close, with Asian markets mixed in holiday-thinned trade and European equities trading modestly firmer. Markets continue to rotate beneath the surface. The broadening-out trade remains intact, supported by cooler headline inflation and a rate rally, though AI-related concentration risk and scrutiny around large-cap tech valuations remain an overhang. Investors are balancing softer consumer data against still-solid labor conditions and stable earnings trends, while positioning and sentiment appear less stretched than earlier in the year. Attention now shifts to the upcoming batch of economic releases and policy signals, with...

US equity futures are pointing modestly lower, with Asian markets sharply weaker and European equities trading mixed. AI-related disruption fears remained the dominant market theme. Investors rotated further into defensive sectors as volatility picked up and the VIX moved above 20. Economic data showed weekly jobless claims broadly in line, continuing claims slightly higher, and existing home sales falling sharply month over month despite some improvement in affordability. Treasury auctions drew strong demand at the long end following earlier mixed results. Market attention now turns to January CPI, with expectations centered on a modest monthly increase in both headline and...

US equity futures are pointing modestly higher, with Asian markets mostly firmer and European equities trading broadly higher. A stronger-than-expected payrolls report was the central driver, reinforcing resilience in the labor market and prompting a backup in yields while tempering expectations for near-term rate cuts. Market leadership remained highly dispersed, with semiconductors and memory stocks outperforming even as broader software renewed its weakness amid ongoing AI-related scrutiny and hyperscaler capex concerns. Big tech lagged overall, and the rotation into cyclicals appeared more selective rather than broad-based. Geopolitical tensions, including heightened focus on Iran, supported crude prices, while trade uncertainty...

US equity futures are higher, following Tuesday's mixed performance. Bonds mixed. US 10-year yield steady at 4.1% after notable drop in prior session after soft US retail sales. Gilts 2 bps lower. Dollar weaker, with biggest move versus yen. Oil gains, gold higher. Industrial metals gain. Bitcoin lower. Asia equities buoyed again by another positive finish on Wall Street overnight with the added tailwind of a weaker dollar/higher regional currencies. Several prominent Asia currencies are strengthening, among them we see the yen, almost 1% stronger on little fresh newsflow, the AUD on hawkish RBA comments, and the offshore yuan, which advanced...

S&P futures are pointing to a slightly higher open today. Asian markets ended mostly higher on Tuesday. Japan’s Nikkei climbed +2.4% to a record high for the second consecutive session, driven by a post-election rally and a +10% gain in Softbank. South Korea and Taiwan also posted gains, supported by optimism over potential tariff reprieves. European markets are narrowly mixed in early trading.

Companies Mentioned: Clear Channel Outdoor, Stripe

S&P futures are pointing to a slightly higher open today. Asian markets rallied Monday, driven by a risk-on sentiment following Japan’s general election outcomes and Friday’s tech-driven bounce on the Nasdaq. The Nikkei surged +3.9%, with Takaichi trade sectors leading the charge. Hong Kong, Mainland China, and South Korea also posted strong gains. European markets are also firmer in early trading with industrial and tech sectors leading the gains.

Companies Mentioned: Intel, Netflix, Kroger

US equity futures are modestly lower though paring most of earlier losses, with Asian markets mostly lower and European equities trading softer. US markets were driven by renewed downside pressure in growth and technology. Weak US labor market signals took center stage, as job openings fell to their lowest level since 2020 and layoffs surged to the highest January reading since the global financial crisis, triggering a pronounced rally in Treasuries and reinforcing curve steepening dynamics. The risk-off backdrop spilled into crypto and precious metals, with Bitcoin posting its sharpest drop since late 2022 and silver seeing an outsized decline. Meanwhile...

US equity futures are pointing modestly higher after a mixed Wednesday close, with Asian markets broadly lower and European equities trading mostly weaker. Technology and AI concentration risk remained the dominant theme. Investors continued rotating toward cyclical sectors. More volatility seen in precious metal prices overnight. Geopolitical risk stayed elevated as headlines around renewed US-Iran nuclear talks drove sharp volatility in energy and precious metals markets, while attention also turned to upcoming large-cap technology earnings later in the week.

Companies Mentioned: SpaceX, Nvidia, Bytedance, KKR

S&P futures are pointing to a slightly higher open today ahead of a busy earnings slate. Asian markets ended mixed on Wednesday. Japan’s Nikkei underperformed due to a selloff in software names on AI disruption fears. The Hang Seng was flat while the Shanghai Composite was higher on stronger-than-expected services PMI data. European benchmarks are flat or slightly higher in early trading.

Companies Mentioned: NVIDIA, Texas Instruments, Ford, OpenAI

S&P futures is up +0.3% and pointing to a higher open today. Asian markets rallied sharply on Tuesday, with the Kospi surging +6.8%, its largest gain in over three years, and Japan's Nikkei advancing +3.9%. Hong Kong lagged due to rumors of higher taxes on internet firms. European markets are trading firmer. Positive sentiment follows Monday's gains and optimism around German fiscal stimulus.

Companies Mentioned: AES Corp, OpenAI

US equity futures is under pressure with S&P lower. Bonds firmer, which sees US 10-year yield down 4 bps at 4.2%. Dollar is easier versus yen, firmer elsewhere with biggest move against Aussie. Gold is selling off sharply, leaving it 20% below Thursday's record high level. Oil down more than 5%. Industrial metals broadly lower. Bitcoin is weaker. Commodity volatility is the big market-moving story as gold and silver tumble, extending Friday's plunge, where gold experienced its biggest daily drop in decades and silver suffered record decline. Dollar's rebound on Kevin Warsh's nomination as Fed chair is mentioned as downside catalyst though...

US equity futures are weaker following a mixed Thursday close, with Asian markets broadly lower and European equities trading firmer. Markets remain focused on mounting speculation that President Trump will name former Fed Governor Kevin Warsh as the next Fed chair, a development seen as hawkish and prompting a rebound in the dollar, higher yields, and pressure on risk assets and precious metals. US equities saw downside concentrated in technology, with Microsoft weighing on sentiment after earnings, partially offset by strength in Meta, while broader cyclicals and energy outperformed amid rising geopolitical risk tied to Iran. Attention is also...

US equity futures point to a firmer open, with Asian markets ended mixed and European equities trading solidly firmer. Markets remained in wait-and-see mode following the Federal Reserve’s decision to keep policy rates unchanged, with two dovish dissents but Chair Powell signaling the Fed is likely to stay on hold for an extended period as inflation remains elevated and labor market conditions show signs of stabilization. Attention is shifting to upcoming Big Tech earnings, with a particular focus on cloud growth and capital expenditure guidance, after recent AI-related optimism lifted semiconductor stocks but failed to generate sustained broader ma...

S&P futures are up +0.3% and pointing to another higher open today. Asian equities were mostly higher on Wednesday. Hong Kong's Hang Seng surged +2.6% to a four-year high, supported by a broad tech rally. South Korea’s Kospi and Taiwan both saw strong gains, with rotation into emerging market assets bolstering sentiment. Gains in Mainland China and Japan were more modest. European markets are trading lower, with the French CAC lagging with a (1.1%) decline driven by weakness in luxury goods.

Companies Mentioned: SpaceX, OpenAI, NVIDIA, SK Hynix

S&P futures is up +0.2% and pointing to a higher open today. Asian equities closed broadly higher Tuesday. SK Hynix has emerged as the exclusive supplier of HBM chips for Microsoft's Maia 200 AI chip, driving outsized gains in South Korea’s markets. Japan's Nikkei was also higher on strength in exporters, while the Hang Seng led Greater China market gains. European markets are also higher in early trading.

Companies Mentioned: Meta, SK Hynix, Ford, General Motors