Futures Pointing To Modestly Higher Open On Wall Street

(RTTNews) - The major U.S. index futures are currently pointing to a modestly higher open on Friday, with stocks poised to add to the gains posted in the previous session.

The markets may continue to benefit from recent upward momentum, which has helped to propel the major averages to new record highs.

While September is typically the worst month for stocks, the major averages have trended higher over the first few weeks of the month.

Optimism about the lower interest rates has contributed to the strength on Wall Street, with the Federal Reserve cutting rates by a quarter point on Wednesday and signaling two more rate cuts this year.

Traders are also likely to keep an eye on the outcome of a phone call between President Donald Trump and his Chinese counterpart Xi Jinping aimed at finalizing a deal over TikTok's U.S. operations.

Overall trading activity may be somewhat subdued, however, as a lack of major U.S. economic data may keep some traders on the sidelines.

Uncertainty about the next major catalyst for the markets following the Fed's rate cut may also lead to relatively light trading activity.

After moving mostly higher early in the session, stocks continued to turn in a strong performance throughout the day on Thursday. The major averages all moved to the upside after ending Wednesday's trading mixed, reaching new record closing highs.

The tech-heavy Nasdaq led the way higher, jumping 209.40 points or 0.9 percent to 22,470.73. The S&P 500 also climbed 31.61 points or 0.5 percent to 6,631.96, while the Dow rose 124.10 points or 0.3 percent to 46,142.42.

Technology stocks helped lead the markets higher amid a spike by shares of Intel (INTC), with the chipmaker skyrocketing by 22.8 percent to its best closing level in over a year.

The rally by Intel came after the company announced a collaboration with Nvidia (NVDA) to jointly develop multiple generations of custom data center and PC products.

Nvidia, which jumped by 3.5 percent after moving to the downside over the past few sessions, will invest $5 billion in Intel's common stock at a purchase price of $23.28 per share.

Cybersecurity technology company CrowdStrike (CRWD) also surged by 12.8 percent after providing upbeat guidance and announcing a strategic partnership with Salesforce (CRM) at an investor day on Wednesday.

In U.S. economic news, the Labor Department released a report showing initial jobless claims pulled back by more than expected in the week ended September 13th.

The Labor Department said initial jobless claims fell to 231,000, a decrease of 33,000 from the previous week's revised level of 264,000.

Economists had expected jobless claims to pull back to 240,000 from the 263,000 originally reported for the previous week.

Meanwhile, the Conference Board released a separate report showing its reading on leading U.S. economic indicators fell by much more than expected in the month of August.

The Conference Board said its leading economic index slid by 0.5 percent in August after inching up by a revised 0.1 percent in July.

Economists had expected the leading economic index to edge down by 0.1 percent, matching the dip originally reported for the previous month.

With Intel leading the way higher, semiconductor stocks showed a substantial move to the upside on the day, driving the Philadelphia Semiconductor Index up by 3.6 percent to a record closing high.

Computer hardware and biotechnology stocks are also saw considerable strength, contributing to the jump by the tech-heavy Nasdaq.

Outside of the tech sector, financial stocks turned in a strong performance, with the KBW Bank Index and the NYSE Arca Broker/Dealer Index climbing by 1.4 percent and 1.3 percent, respectively.

Commodity, Currency Markets

Crude oil futures are falling $0.44 to $63.13 a barrel after sliding $0.48 to $63.57 a barrel on Thursday. Meanwhile, after plunging $39.50 to $3,678.30 an ounce in the previous session, gold futures are inching up $2.10 to $3,680.40 an ounce.

On the currency front, the U.S. dollar is trading at 148.14 yen versus the 148.00 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.1735 compared to yesterday's $1.1788.

Asia

Asian stocks ended mixed on Friday despite Wall Street's main indexes reaching new record highs overnight following the Federal Reserve's first interest rate cut in nine months.

China's Shanghai Composite Index dipped 0.3 percent to 3,820.09 after a choppy session ahead of a phone call between U.S. President Donald Trump and Chinese President Xi Jinping scheduled for later in the day to finalize terms of a deal over TikTok's U.S. operations.

Hong Kong's Hang Seng swung between gains and losses before ending little changed at 26,545.10.

Japanese markets ended lower as the Bank of Japan's hawkish tilt lifted the yen. The Nikkei 225 Index fell 0.6 percent to 45,045.81, while the broader Topix Index closed down 0.4 percent at 3,147.68.

Japan's two-year government bond yield rose to the highest level since 2008 after the Bank of Japan held rates as expected but announced the start of its oversized ETF and REIT holdings, marking a significant and symbolic step away from the ultra-loose policies of the Abenomics era.

Seoul stocks fell on profit taking after recent rallies. The Kospi slid 0.5 percent to 3,445.24, with tech stocks leading losses.

Hyundai Motor slumped over 2 percent after slashing its 2025 operating profit margin target to 6-7 percent from a previously announced 7-8 percent, citing the impact of U.S. tariffs.

Australian markets eked out modest gains, with banks and healthcare stocks surging on expectations of a rate cut in November.

The benchmark S&P/ASX 200 Index rose 0.3 percent to 8,773.50, while the broader All Ordinaries Index closed 0.3 percent higher at 9,061.20.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 Index climbed 0.9 percent to 13,231.66 after a two-day slide.

Europe

European stocks are turning in a lackluster performance on Friday as a busy week that included crucial central bank decisions draws to a close.

In economic news, investors cheered data that showed U.K. retail sales increased for the third straight month in August.

Retail sales volume increased 0.5 percent in August from a month ago, the Office for National Statistics said.

This followed a similar revised 0.5 percent increase seen in July and outpaced economists' forecast of 0.4 percent gain.

While the German DAX Index is down by 0.1 percent, the U.K.'s FTSE 100 Index is just above the unchanged line and the French CAC 40 Index is up by 0.2 percent.

British telecom operator Vodafone has jumped after it agreed to acquire Telekom Romania Mobile Communications S.A. and its post-paid customer base for €30 million.

IG Group Holdings has fallen after it announced the acquisition of Independent Reserve, a leading cryptocurrency exchange based in Australia.

Close Brothers has slumped after the lender delayed its preliminary 2025 results by a week.

Auto supplier Stabilus has moved notably lower after cutting its net profit outlook below market estimates.

U.S. Economic News

San Francisco Federal Reserve President Mary Daly is scheduled to participate in a fireside chat on AI implications for workforce development and economic mobility hosted by the Emerging Tech Economic Research Network at 2:30 pm ET.