Nasdaq futures lead Wall Street gains as oil retreat eases inflation worries
The recent strength of S&P 500 earnings growth has raised investor concerns that the market is in an 'earnings bubble'.
Friday saw US futures tracking the Nasdaq 100 lead Wall Street higher, setting the tech-heavy index on track for weekly gains amid an easing of inflation concerns. Oil prices dipped for a third consecutive day, contributing to reduced worries over price pressures. The S&P 500 E-minis gained 0.23%, while the Dow E-minis rose 0.12% and the Nasdaq 100 E-minis climbed 0.5%.
The simultaneous expiry of derivatives contracts tied to stocks, index options, and futures, known as triple witching, also led to heightened trading volume and market volatility. At the same time, various industry leaders voiced their thoughts on AI development and earnings growth. Concerns emerged that the market might be in an earnings bubble, but Goldman Sachs chief US equity strategist Ben Snider argued that the S&P 500 earnings growth might slow rather than collapse in the coming years.
Berkshire Hathaway's former CEO, Warren Buffett, announced his decision to step down as chairman and become chairman emeritus, leaving his shares flat in premarket trading.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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