Technology stocks brought US stock futures to a higher profit week, with investors expecting results from companies such as Apple, Tesla and Facebook.
Futures tied with the S&P 500 rose 0.3%, pointing to a prolongation of profits, with the index closing nearly 2% higher and reaching a record Friday. Nasdaq-100 futures advanced 1%, suggesting a rally in technology stocks after the bell.
China’s most valuable Internet company, Tencent Holdings, jumped nearly 11% to a record high in Hong Kong. Tencent Kuaishou Technology’s portfolio, like TikTok’s video app, has announced an upcoming IPO that could cost it about $ 60 billion. Shares of Amsterdam, registered in the technology investment group Prosus, one of Tencent̵
More than a fifth of the broad S&P 500 index and a third of the Dow Jones Industrial Average components are expected to make a profit this week. Kleenex and Huggies maker Kimberly Clark is due to report Monday before the market opens. Starbucks, Verizon and Microsoft are scheduled for Tuesday. Other major technology companies report later in the week, including Apple, Tesla and Facebook on Wednesday.
“The way management communicates its prospects will be key to the markets,” said Sophie Chardin, a cross-asset strategist at Lombard Odier. “Investors will have to assess the possibility of vaccinations with the reality of the new blockades” and the impact on each company.