S&P And Nasdaq Futures Rise Further
  • 2 years ago
Futures that track the S&P 500 and NASDAQ indexes hit record highs on Friday as the strong earnings season continues to push the markets forward. Pfizer ($PFE@US) stock jumped 8.3% in early trading as its antiviral pill for COVID-19 was shown to cut hospitalization risks by 89%. Travel stocks were also on the rise as American Airlines ($AAL@US), United Airlines ($UAL@US), Delta Air Lines ($DAL@US), Carnival Corp ($CCL@US) and Norwegian Cruise ($NCLH@US) likes all rose somewhere between 2 and 3 and a half percent. Expedia ($EXPE@US) saw a 12.3% jump in its stock value as its 3rd quarter earning report signaled a rebound in travel demand. Microchip Technology ($MCHP@US) rose nearly 4% as analysts increased price targets and the firm’s 3rd quarter earnings sparking a fit of confidence in an economic recovery. NVIDIA ($NVDA@US) gained almost 3% after gaining about 17% the previous day. In other news, Pinterest ($PINS@US) rose just over 4 and a half percent as the firm expected its 4th quarter revenue to grow as retail ad spending is booming prior to the winter holidays. Investors are now turning their focus to the Labor Department’s nonfarm payrolls report which is due out Friday morning—a report that should demonstrate job growth in October as COVID-19 infections diminish.