US futures indicate mixed open ahead of Kevin Warsh’s Jackson Hole speech; PayPal, GAP, other stocks to watch today

Investing.com data showed that Dow Jones futures were trading 0.13% higher at 53,690 points ahead of the opening bell on Friday, indicating a more than 120-point elevated open on August 28 in comparison to the previous US equity close.

The S&P 500 index futures were trading 0.06% higher at 7,747 points ahead of the opening bell on Friday’s market, indicating a marginally higher or +17-point, open, according to the exchange data.

After Thursday’s rally on Nvidia’s earnings, the tech-heavy Nasdaq 100 futures were trading 0.21% lower at 29,634 points ahead of the Wall Street opening bell on August 28, indicating a marginally lower open on Friday.

Key things to watch before US market opens

US stocks to watch on Friday, August 28

The stock was witnessing further support after the company’s Q2 earnings per share surpassed market estimates.

Investors were focused on media reports suggesting that Advent and Stripe are no longer looking to buy out the company, reducing chances for one of the largest leveraged buyouts on Wall Street.

How did the US markets end on Thursday?

The benchmark US equity market indices surged to end higher after the trading session on Thursday, August 27, as investors reacted on a positive note to Nvidia’s strong Q2 earnings and guidance, which in turn reduced fears looming over artificial intelligence (AI) spending.

Investor sentiment was further supported by the US weekly jobless claims declining by 18,000 to 1.78 million, as per the official data.

MarketWatch data showed that the Dow Jones Industrial Average closed 0.20% higher at 53,569.44 points after the trading session on Thursday, compared to 53,463.88 points at the previous equity market close.

The S&P 500 index ended 0.72% higher at 7,730.99 points after the trading session on August 27, in comparison to 7,675.70 points at the previous equity market close, according to the exchange data.

The data also showed that the tech benchmark Nasdaq 100 index rallied to close 1.43% higher at 29,641.56 points after Thursday’s trading session, in comparison to 29,224.52 points at the previous market close.

Asian market cues

The equity market indices in Asia ended on a mixed note after their trading session on Friday, August 28, as investors exercised caution amid volatile crude oil prices and ahead of US Federal Reserve Kevin Warsh’s speech at the Jackson Hole symposium later during the day in the United States.

Japan’s Nikkei 225 ended 0.41% higher; Hong Kong’s Hang Seng Index ended 0.07% higher; India’s BSE SENSEX closed 0.43% higher; and Singapore-based FTSE closed 0.28% after Friday’s trading session.

In contrast, China’s Shanghai closed 0.11% lower and South Korea’s KOSPI ended 1.79% lower after the trading session on August 28.

Crude oil prices

Global crude oil prices remained volatile yet on the higher side on Friday’s market as there were no signs of any negotiations happening between the United States and Iran amid plans for economic sanctions on the West Asian country.

Latest reports from CNN showed that on Friday, US President Donald Trump remained vague when he was asked about the details of his economic sanctions plans against the Iranian economy.

Investing.com data showed that the benchmark Brent crude oil prices were trading 0.68% lower at $87.93 per barrel (bbl) on Friday’s market, in comparison to $88.52 per bbl at the previous market close.

Although oil prices have lost 5% in one week, the energy rates remained 4.5% elevated in the past one-month period.

However, the geopolitical risks remained heightened due to reports of the USS Theodore Roosevelt warship, set off towards the West Asian region for a period of at least the upcoming seven months.