Key Data Releases and Stock Movements Shape Market Outlook

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ICARO Media Group
Politics
01/11/2024 22h25

**Market Update: Premarket Movements and Key Data Releases**

As the trading day begins, investors are closely watching key data releases and significant stock movements. At 9:30 a.m. ET, S&P will release its final U.S. manufacturing PMI, followed by construction spending data at 10 a.m. ET. Auto sales figures are anticipated throughout the day, adding a layer of anticipation to the market.

In the world of tech stocks, Apple Inc. (AAPL) saw a 1.2% dip in premarket trading despite reporting record quarterly revenue, driven by a surge in iPhone sales. Meanwhile, Amazon.com Inc. (AMZN) has captured investor attention after announcing better-than-expected results for the September quarter. The company's stock has jumped 6.8% in premarket trades.

Intel Corp. (INTC) is also up nearly 6% in premarket trading, even though the company reported a staggering loss of $16.6 billion during the September quarter. On the energy front, Exxon Mobil Corp. (XOM) shares have risen 1.3% after the company exceeded earnings per share (EPS) estimates, despite a slight miss on revenue.

Trump Media & Technology Group Corp. (DJT) continues to experience volatility, with its shares falling 3.3% in premarket trading, following an 11.7% decline on Thursday. Investors are also awaiting the earnings results from Chevron Corp. (CVX) and Cardinal Health Inc. (CAH) later today.

Crude oil futures saw a 2.08% increase in the early New York session as geopolitical tensions rise, with Iran reportedly bracing for another attack on Israel. Internationally, most Asian markets closed in the red, whereas European stocks were generally higher in early trading today.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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