U.S. markets are showing a downward trend ahead of the opening bell, with futures for the S&P 500 and the Dow Jones Industrial Average slipping 0.4% in early trading on Thursday. This decline comes after markets were closed on Wednesday for the Christmas holiday.
Investors are keeping an eye on the government's weekly update on U.S. unemployment benefit applications, which is expected to provide insights into the labor market.
Despite Netflix's recent broadcast of back-to-back NFL matchups on Christmas, featuring a halftime performance by Beyoncé, the streaming giant's stock saw little impact. However, the glitch-free broadcast became the second-most popular live title ever for the streaming service, according to NFL Media.
Historically, U.S. markets tend to see a year-end boost, with the last five trading days of each year and the first two days of the new year averaging a gain of 1.3% since 1950. However, concerns have arisen over President-elect Donald Trump's policies, such as tariffs, potentially leading to higher inflation and global trade challenges.
Despite these uncertainties, the U.S. stock market is on track to deliver strong returns for 2024, with the S&P 500 up 26.6% so far this year and hovering near its all-time high set earlier in December.
Meanwhile, Japan's Nikkei 225 index surged 1.1% on Thursday, driven by gains in retailers and tourism-related stocks following an agreement to ease visa conditions for Chinese tourists. Major department store groups like Isetan Mitsukoshi Holdings and J. Front Retailing Co. saw significant increases in their stock prices.
China and Japan also agreed to hold talks on security issues and other areas of contention during a recent visit by the Japanese Foreign Minister to Beijing.
In other Asian markets, South Korea's Kospi slipped 0.4%, while Taiwan's Taiex gained 0.1%. The Shanghai Composite index in China edged 0.1% higher, while Thailand's SET fell 0.1%.
Major European markets, as well as Hong Kong, Australia, New Zealand, and Indonesia, remained closed on Thursday. U.S. benchmark crude oil rose to $70.50 per barrel, and Brent crude reached $73.53 per barrel. The dollar strengthened against the Japanese yen but weakened against the euro.
