Wallstreetcn
2024.02.02 13:14
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European stocks opened higher, with US stock futures continuing their upward trend. Tonight, there will be a heavyweight non-farm payroll data release.

US stock index futures rise together, with Meta up more than 16% before the market opens, and New York Community Bank up 2.8% before the market opens. In the previous two trading days, they have fallen nearly 45% cumulatively.

Overnight, tech giants boosted the US stock market, and on February 2nd, the futures of the three major US stock indexes continued to rise, with Nasdaq 100 futures up more than 1%.

The US non-farm payroll data for January will be released tonight at 21:30. Economists generally believe that the labor market began to cool down in January, with an estimated 185,000 new non-farm jobs, lower than the 216,000 reported in December; the unemployment rate is expected to rise from 3.7% to 3.8%.

If the employment data exceeds expectations, it will echo the Federal Reserve's stance of "not in a hurry to cut interest rates" this week, which will continue to suppress expectations of rate cuts, benefiting the US dollar and putting pressure on gold and US stocks. Conversely, weaker-than-expected data will raise concerns about the economic outlook, stimulate expectations of rate cuts, and push gold and US stocks higher while putting pressure on the US dollar.

Futures of the three major US stock indexes rise together

US stock futures are rising, with Nasdaq 100 futures up 1.1%, S&P 500 futures up 0.6%, and Dow futures up 0.01%.

Meta Platforms' pre-market trading surged more than 16%, delivering the strongest earnings report in the company's history last year. Both fourth-quarter performance and first-quarter guidance exceeded Wall Street's expectations. The company also announced a $50 billion stock buyback, as well as its first-ever dividend.

Amazon's pre-market trading rose 6.5%, showing the effectiveness of cost-cutting measures. The company's net sales in the fourth quarter were better than expected, and first-quarter performance guidance is also roughly better than expected.

Apple's pre-market trading fell more than 2%, as Apple lived up to expectations and delivered better-than-expected Q4 results. EPS reached a new high, and iPhone sales exceeded market expectations. Service revenue reached a new high for the fourth consecutive quarter. However, revenue from the Greater China region, the third-largest market, declined by about 13% YoY, exceeding expectations.

New York Community Bank rose 2.8% in pre-market trading, after falling nearly 45% in the previous two trading days.

European stock indices rise across the board

The Euro Stoxx 50 index opened up 0.6%, the German DAX index rose 0.7%, the UK FTSE 100 index rose 0.5%, and the French CAC 40 index rose 0.5%.

(Continuously updated)