Walmart, Alibaba, Geopolitics Limit Wall Street Pre-Bell, Asia, Europe Up

MT Newswires
02-21

Wall Street futures pointed modestly higher pre-bell Friday, as traders weighed the earnings season and prospects in the Ukraine-Russia war.

In the futures, the S&P 500 was steady, the Nasdaq inclined 0.1% and the Dow Jones was up 0.1%, edging up after slipping on Thursday following soft quarterly results and guidance from retail giant Walmart (WMT).

Asian exchanges traded mostly higher overnight, after a strong earnings report from internet colossus Alibaba (BABA) triggered a rally in tech issues.

European bourses tracked moderately higher midday on the continent.

United States Cellular (USM) plans to report earnings pre-bell, among others.

On the economic calendar is the S&P Global PMI composite flash for February at 9:45 am.

The January existing home sales bulletin, the University of Michigan consumer sentiment report for February, and the Q4 services survey post at 10 am.

Federal Reserve Vice Chair Philip Jefferson, and San Francisco Fed President Mary Daly speak at 11:30 am.

The weekly Baker Hughes domestic oil-and-gas rig count posts at 1 pm.

In premarket action, Bitcoin traded at $98,449, West Texas Intermediate crude oil traded lower at $71.85, and 10-year US Treasuries offered 4.49%. Spot gold traded for $2,930 an ounce.


















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