SMCI is up 3.2% in pre-market trading after the company announced a significant boost in server orders, which has also lifted the shares of other tech companies. The NASDAQ futures are up 0.5% and the S&P 500 futures are up 0.3%, indicating a positive start to the trading day. The Dow Jones futures are up 0.2%, with Microsoft and Apple contributing to the gains.
What's Happening Right Now
The pre-market trading session is seeing a lot of activity, with SMCI being the biggest gainer among the major tech stocks. The company's shares are up 3.2% to $62.15, after the company announced that it had received a large order for its servers from a major cloud computing company. The US dollar index is down 0.1% to 98.50, while the 10-year Treasury yield is up 1.5% to 1.63%.
In other news, US crude oil prices are up 0.5% to $63.25 per barrel, while gold prices are down 0.2% to $1,837 per ounce. The European markets are also trading higher, with the Stoxx 600 up 0.4% and the FTSE 100 up 0.3%.
Why It Matters for US Investors
The strong server orders for SMCI are a positive sign for the tech industry, which has been facing challenges in recent months. The company's shares have been under pressure due to concerns about the global economy and the impact of the COVID-19 pandemic on tech spending. However, the latest announcement suggests that the company is seeing a pickup in demand for its products, which could be a positive catalyst for the stock.
The US economy is also expected to release some key data today, including the weekly jobless claims and the Philadelphia Fed manufacturing index. These data points will provide insight into the health of the US economy and could impact the trading session. The Federal Reserve is also scheduled to release its Beige Book report, which will provide a snapshot of the US economy.
What Analysts Are Saying
Analysts at Goldman Sachs are expecting the S&P 500 to reach 4,200 by the end of the year, citing the strong earnings growth and the low interest rates. Analysts at Morgan Stanley are also bullish on the market, expecting the S&P 500 to reach 4,300 by the end of the year. However, analysts at Bank of America are more cautious, expecting the S&P 500 to reach 4,000 by the end of the year.
Key Takeaways
- SMCI is up 3.2% in pre-market trading after announcing a boost in server orders.
- The NASDAQ futures are up 0.5% and the S&P 500 futures are up 0.3%.
- The US economy is expected to release key data today, including the weekly jobless claims and the Philadelphia Fed manufacturing index.
Frequently Asked Questions
What is the current price of SMCI?
The current price of SMCI is $62.15.
What is the expected move in the S&P 500 today?
The S&P 500 is expected to open higher, with the futures up 0.3%.
What are the key data points to watch today?
The key data points to watch today are the weekly jobless claims and the Philadelphia Fed manufacturing index.
