US Equity Market Movements
US equity markets saw slight upward movement before Friday’s opening bell as traders awaited fresh market signals to guide the direction.
- The Standard & Poor’s 500 showed a slight rise, while the Dow Jones Industrial Average and Nasdaq both increased by 0.1% during premarket activity.
Global Market Trends
The majority of Asian exchanges were trending positively, and European bourses were also moving upward by midday across the continent.
Corporate News
Celsius Holdings (CELH) surged by 32% pre-bell after announcing its agreement to acquire Alani Nutrition for approximately $1.8 billion in a cash-and-stock deal.
- Additionally, Celsius posted better-than-expected Q4 results, driving the stock higher. Meanwhile, Rivian Automotive (RIVN) saw a decline of 3.9% following the release of its quarterly report.
Several companies, including United States Cellular (USM), Telephone and Data Systems (TDS), TXNM Energy (TXNM), and Brady (BRC), were scheduled to release their latest earnings reports before the bell.
Key Economic Data Releases
On the economic calendar, important reports were set to be released:
- S&P Global’s purchasing managers’ index for February was expected at 9:45 am ET, followed by the existing home sales report for January at 10 am.
- At the same time, the University of Michigan consumer sentiment report for February and the Q4 services survey were also scheduled for release.
Energy and Federal Reserve Updates
Later in the day, the weekly Baker Hughes domestic oil-and-gas rig count was due at 1 pm, while Federal Reserve Vice Chair Philip Jefferson and San Francisco Fed President Mary Daly were scheduled to speak at 11:30 am.
Pre-Bell Commodity and Asset Prices
Before the opening bell, several key commodity and asset prices saw shifts:
- Bitcoin ticked up 0.1% to $98,659, while West Texas Intermediate crude oil slipped by 1% to $71.77 a barrel.
- Yields on 10-year Treasuries retreated by 1.3 basis points to 4.49%, and gold decreased by 0.3% to $2,947 an ounce.
