S&P 500 futures are up 48 points, Nasdaq 100 futures are up 217 points, and the Dow Jones Industrial Average futures are up 310 points. This indicates a higher opening for the first session of the year, driven by strong gains in major tech companies.
Falling market rates have contributed to this positive outlook. The 2-year yield decreased to 4.21%, and the 10-year yield dropped to 4.52%.
Key economic updates for today include:
Today's News
Johnson & Johnson (JNJ, Financial) has announced a quarterly dividend of $1.24 per share, maintaining its previous payout. The forward yield stands at 3.43%, with the dividend payable on March 4. The company has also received FDA approval for Celltrion's biosimilar of its drug Stelara, adding to its robust pharmaceutical portfolio.
Unity Software (U, Financial) saw its shares jump nearly 9% after a large block of shares was traded at a market value of $29.7 million. The company, known for its real-time 3D content platform, has gained attention on social media, with positive mentions quadrupling in recent hours. This surge is partly driven by meme stock investor Keith Gill's cryptic social media activity.
Nvidia (NVDA, Financial) shares rose by 1.7% in premarket trading following Bank of America's reaffirmation of its "Top Pick" status ahead of the Consumer Electronics Show. Nvidia is expected to discuss updates on its Blackwell GPUs and robotics strategy, which could impact its future growth trajectory.
Philip Morris International (PM, Financial) has completed the sale of its Vectura Group subsidiary to Molex Asia Holdings for an upfront cash consideration of £150 million. This strategic move is part of Philip Morris's broader efforts to focus on its core business and streamline operations.
Cameco (CCJ, Financial) announced a suspension of production at its Inkai joint venture in Kazakhstan due to regulatory delays. This unexpected halt poses a significant disruption to the global uranium supply chain, with Cameco seeking clarification on the situation's impact on future production.
GlobalFoundries (GFS, Financial) and IBM (IBM, Financial) have resolved their patent dispute, paving the way for potential collaboration in semiconductor innovation. The settlement marks a positive step forward for both companies, allowing them to focus on future technological advancements.
Spotify (SPOT, Financial) launched a new partner program to enhance monetization for creators in several countries, allowing them to earn 50% of ad revenue. This initiative is part of Spotify's strategy to expand its creator ecosystem and drive growth in its podcast segment.
BP (BP, Financial) announced the start of gas production from the Greater Tortue Ahmeyim phase 1 project, with LNG deliveries expected soon. This development marks a significant milestone in BP's operations in West Africa, with long-term implications for the region's energy landscape.
McDonald's franchisee Arcos Dorados (ARCO, Financial) finalized a new 20-year master franchise agreement, effective January 1, 2025. The agreement includes a royalty fee structure and positions Arcos Dorados for sustained growth in the Latin American market.
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