US stock markets: Dow, S&P 500, Nasdaq futures indicate gap-up open; Netflix, Xenon Pharma, other stocks to watch

US equity futures indicate a positive opening on Friday, September 18, as investors focused on falling crude oil prices to $101 per barrel (bbl), easing Treasury yields, tech stock momentum from Asian markets and the Bank of Japan’s interest rate hike.

MarketWatch data showed that the Dow Jones futures were trading 0.36% lower at 52,034 points ahead of the opening bell on Thursday’s market; however, indicating a more than 250-point higher open when compared to the previous US equity market close.

The S&P 500 index futures were down 0.12% at 7,698.75 points ahead of the Wall Street opening bell on Friday’s market, indicating a 60-point higher open potential when compared to the previous Wall Street close.

In contrast, the Nasdaq 100 index was up 0.13% points during the trading session on September 18, indicating more than 330-point higher opening with focus on further gains after Thursday’s market rally.

Key things to watch before US market opens

US stocks to watch on Sept 18

BoJ rate hike

The Bank of Japan (BoJ) on Friday, September 18, decided to raise its key benchmark interest rate by 25 basis points to 1.25% after the September policy meeting, up from the earlier 1% level.

BoJ increasing its interest rates to 1.25% marks the highest level in the last 31 years; the Japanese economy has not seen such high interest rate levels since 1995.

The move on interest rates comes at a time when major central banks around the world are increasing their rates due to higher energy prices pushing up inflation across the globe.

BoJ’s rate hike comes after the US Federal Reserve raised its interest rates for the first time in over three years to the range of 3.75% to 4%, from earlier 3.50% to 3.75% levels. Earlier this month, the European Central Bank also increase their rates.

Asian stocks end higher

Equity market indices in Asia ended on a higher note after their trading session on Friday, September 18, as investors focused on the strong momentum from Wall Street, a pullback in crude oil prices, and a sharp rise in technology stocks amid BoJ’s rate hike move.

MarketWatch data showed that Japan’s Nikkei 225 ended 1.38% higher at 65,018.95 points, Hong Kong’s Hang Seng ended 0.60% higher at 24,750.78 points, China’s Shanghai gained 0.94% higher at 3,911.87 points, and the KOSPI ended 2.66% higher at 6,894.23 points.

While India’s BSE SENSEX ended 0.03% lower at 74,294.96 points, and Singapore’s FTSE ended 0.08% lower at 5,656.11 points, as per the exchange data.

How did US market end on Thursday?

US equity market indices ended higher after the trading session on Thursday, September 17, as investors focused on the pullback in crude oil prices, easing US Treasury yields, and strong buying momentum among technology stocks after a massive selloff.

The Dow Jones Industrial Average ended 0.61% higher at 51,778 points after Thursday’s market session, compared to 51,461.90 points at the previous equity market close, according to MarketWatch data.

The exchange data also showed that the S&P 500 index closed 1.14% higher at 7,637.76 points after the trading session on September 17, in comparison to 7,551.81 points at the previous equity market close.

The tech-heavy Nasdaq 100 index rallied to end 1.73% higher at 29,446.98 points after the trading session on Thursday, compared to 28,945.06 points at the previous Wall Street close.