Stocks are likely to move to the upside in early trading on Friday, regaining ground after trending lower over the past few sessions. The major index futures are currently pointing to a higher open for the markets, with the S&P 500 futures up by 0.5 percent.
The markets may benefit from bargain hunting following the recent pullback, which saw the major averages close lower for four straight sessions.
Renewed strength among technology stocks may contribute to an early advance, as reflected by the 1.0 percent jump by the Nasdaq 100 futures.
Shares of Taiwan Semiconductor (TSM) are surging by 2.7 percent in pre-market trading after the U.S. government granted the chipmaker its annual license to import equipment to its facilities in China.
Major AI players Nvidia (NVDA) and Palantir Technologies (PLTR) are also seeing significant pre-market strength after soaring last year.
Stocks may also benefit from a continuation of the upward momentum seen for much of 2025, which lifted the major averages to new record highs.
Overall trading activity may be somewhat subdued, however, as some traders remain away from their desks following the New Year’s Day holiday on Thursday.
A lack of major U.S. economic data may also keep some traders on the sidelines ahead of the release of several key reports next week, including the closely watched monthly jobs report.
Extending a recent downward move, stocks saw continued weakness during light New Year’s Eve trading on Wednesday. The major averages all showed notable moves to the downside over the course of the session.
The major averages ended the day just off their lows of the session. The Dow fell 303.77 points or 0.6 percent to 48,063.29, the Nasdaq slid 177.09 points or 0.8 percent to 23,241.99 and the S&P 500 declined 50.74 points or 0.7 percent to 6,845.50.
Despite the recent pullback, the major averages still posted strong gains for the full year. The tech-heavy Nasdaq skyrocketed by 20.4 percent for the year, while the S&P 500 soared by 16.4 percent and the Dow surged by 13.0 percent.
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher on Friday, with several major markets closed for holidays. Hong Kong’s Hang Seng Index surged by 2.8 percent, while South Korea’s Kospi jumped by 2.3 percent.
The major European markets have also moved to the upside on the day. While the French CAC 40 Index is up by 0.5 percent, the U.K.’s FTSE 100 Index is up by 0.4 percent and the German DAX Index is up by 0.3 percent.
In commodities trading, crude oil futures are falling $0.52 to $56.90 a barrel after sliding $0.53 to $57.42 a barrel on Wednesday. Meanwhile, after slumping $45.20 to $4,341.10 ounce in the previous session, gold futures are jumping $41.40 to $4,382.50 an ounce.
On the currency front, the U.S. dollar is trading at 156.87 yen versus the 156.66 yen it fetched on Thursday. Against the euro, the dollar is valued at $1.1719 compared to yesterday’s $1.1745.
Business News
U.S. Stocks Poised To Kick Off 2026 On Upbeat Note
2026-01-02 13:53:36
