Bitcoin price today: rises above $111k amid easing trade jitters; US CPI on tap
Investing.com-- U.S. stock futures were little changed on Thursday evening after Wall Street ended higher, as investors digested a mixed bag of corporate earnings and looked ahead to key inflation data delayed by the ongoing government shutdown.
S&P 500 Futures inched up 0.1% to 6,781.50 points, while Nasdaq 100 Futures gained 0.2% to 25,302.75 points by 21:02 ET (01:02 GMT). Dow Jones Futures were largely unchanged at 46,919.0 points.
Wall St gains on upbeat earnings, tempered US-China trade stance
In the regular session, the S&P 500 gained 0.6%, the NASDAQ Composite rose 0.9%, and the Dow Jones Industrial Average added 0.3%, lifted by strength in industrials and select tech stocks.
Chipmaker Intel Corporation (NASDAQ:INTC) was in focus after posting stronger-than-expected quarterly results, returning to profit as demand for PC and data center chips improved.
The company said it was seeing early benefits from its manufacturing turnaround and tighter cost control. Intel shares jumped over 8% in extended trading.
Intel has benefited in recent weeks from a slate of capital injections, including from artificial intelligence darling Nvidia (NASDAQ:NVDA) and Japanese investment titan SoftBank Group (TYO:9984).
Honeywell International’s (NASDAQ:HON) upbeat results and raised profit forecast boosted the industrial sector, while American Airlines (NASDAQ:AAL) advanced after lifting its annual earnings guidance.
T-Mobile US (NASDAQ:TMUS) also reported stronger-than-expected subscriber growth, though shares slipped amid concerns about rising costs.
A surge in quantum computing stocks added to market optimism following a Wall Street Journal report that the U.S. government is considering taking equity stakes in select quantum technology firms as part of its national innovation strategy.
Wall Street sentiment also benefited from easing trade concerns after the White House confirmed President Donald Trump will meet Chinese President Xi Jinping next week in South Korea.
The announcement came even as U.S.-China tensions have escalated in recent days over technology export restrictions and Beijing’s latest rare earth curbs.
CPI data looms large after shutdown delays
Still, investors were reluctant to make big moves ahead of Friday’s release of the September Consumer Price Index, which was delayed by the over-three-week-old U.S. government shutdown
With the next Federal Reserve policy meeting looming next week, investors are watching the inflation reading closely. The Fed is expected to cut rates this month by 25 basis points, followed by another reduction in December.
The delayed CPI release has taken on added importance given the data vacuum caused by the government shutdown, which has disrupted most official economic reporting.