Today's Highlights | Memory Sector Extends Pre-market Gains as Wall Street Braces for CPI Showdown
U.S. stock index futures edged higher on Thursday (Feb 12) as investors continued to digest a complex labor market narrative while shifting their focus to tomorrow's critical inflation data.
At the time of writing:Dow Futures: Up 0.29%, S&P 500 Futures: Up 0.31%, Nasdaq 100 Futures: Up 0.29%.
The memory and storage sector remains the market's primary engine. SanDisk jumped over 6% in pre-market trading, while Micron Technology and Western Digital both gained roughly 3%. This extension of Wednesday’s rally comes as the industry confronts a structural supply crunch. Conversely, Cisco plummeted 7% following its earnings release, and Applovin and Sanofi also faced significant pre-market pressure, falling 7% and 5% respectively.
Market sentiment is currently caught between relief and anxiety. Wednesday’s January Non-Farm Payrolls (NFP) report showed 130,000 new jobs—a figure that blew past estimates and provided a "sigh of relief" that the U.S. economy is avoiding a recession. However, the strength of the labor market complicates the Fed’s path.
"Friday’s CPI report carries immense weight," noted Tom Lee, Head of Research at Fundstrat Global Advisors. "If inflation remains cool, the market can at least find comfort that the Fed’s policy balance is working. For now, the strong jobs data means we aren’t seeing a recession, which is a macro win."
European markets followed the positive lead, with the DAX climbing 1.29% and the CAC 40 up 0.92%.
Corporate News
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