Global stocks are trading lower :
currently after Wall Street extended losses on Wednesday. Apple shares slid 0.52%, Alphabet shares lost 0.8% on Wednesday underperforming the market as Evercore ISI included Alphabet stock in its Underperform List stating that Wall Street's expectations for operating margin and operating income for Alphabet’s fourth quarter are "too aggressive, given normal seasonal drag factors” as well as the full quarter impact of $2 billion-per-year expenses for the exclusive rights to broadcast the NFL's Sunday Ticket on Google's YouTube TV and YouTube Prime Time services starting with the 2023 football season.
The US stock index futures are higher currently ahead of Department of Labor Jobless Claims report at 14:30 CET today. The three main US stock indexes ended lower again on Wednesday in the narrow range from -0.6% to -0.3% led by technology shares after stronger than expected retail sales data weighed on hopes that the Federal Reserve would cut interest rates as early as this March.
European stock indexes futures are mixed currently after indexes closed lower yesterday with mining stocks leading losses. Asian stock indexes futures are mostly lower today with Hong Kong’s Hang Seng Index defying the trend after hitting lowest levels last seen in late-2022.
Brent is extending gains presently as OPEC forecast relatively strong growth in global oil demand over the next two years. Prices were mixed yesterday on supply concerns as below-zero degrees Fahrenheit temperatures caused oil output in North Dakota to fall by 650,000 to 700,000 barrels per day (bpd), more than half its typical output. The US Energy Information Administration will report US crude stocks today at 17:00 CET. The US oil benchmark West Texas Intermediate (WTI) futures added 0.2% and is higher currently. Brent crude lost 0.5% to $77.88 a barrel on Wednesday.
