Stock futures tick higher
Stock futures advanced after the S&P 500 posted a third straight positive session.
Shares of PVH Corp. rose on strong quarterly statistics.
Futures tied to the Dow’s Industrial Average advanced 114 points, or 0.36%. S&P 500 and Nasdaq 100 futures advanced 0.26% and 0.15%, respectively.
Investors struggled to maintain last week’s gains, but tech stocks came under pressure. The Dow Jones Industrial Average added 194.56 points or 0.62%, and the S&P 500 added 0.17%. The Nasdaq Composite retreated 0.46% as tech stocks declined.
Bank stocks rise in Asia-Pacific and Europe
First Republic grew with the SPDR S&P Regional Banking ETF. Communication services and information technology, which were in the leading positions in 2023, have declined.
The USA and Japan announced a trade deal on minerals for electric vehicle batteries that would give Japanese automakers a chance at the Biden administration’s $7,530 EV tax credit scheme, reducing inflation.
The two countries are interested in addressing economic instability and non-market policies, increasing profits.
IRA states plug-in electric vehicles are produced in greater numbers in North America to qualify for tax incentives.
Bank shares in Asia-Pacific advanced, tracking Wall Street’s overnight gains after First Citizens bought a majority stake in Silicon Valley Bank.
Australia’s Macquarie Group advanced 1.52% in Asian morning trade, with Westpac, National Australia Bank, and Commonwealth of Australia Bank each up nearly 1 per cent.
South Korean financial benchmarks also rose – Shinhan Financial Group rose 3.45%, KB Financial Group advanced by 3.54%, and Woori Financial Group – more than 2.2%.
European shares rose early Monday, with the Stoxx 600 index advancing by 0.5%.
Oil and gas stocks advanced 1.45%, mining stocks advanced 1.37%, and banks recovered some positive performance, up 1.25% actively.
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