Markets Pause as AI Stocks Stabilise and Earnings Draw Mixed Reactions

With AI-related stocks stabilising, US markets appear to be digesting recent swings as the weekend approaches. Energy prices remain elevated as wars in the Middle East continue, while investor reactions to overnight earnings have been mixed. NASDAQ futures are down 0.1%, and Dow futures are steady.

Alcoa ($1.82 vs Street $1.51) and Travelers ($9.18 vs Street $7.39) both beat earnings expectations, but their shares have moved in opposite directions. Alcoa is up 2.6% in premarket trading, while Travelers is down 5.2%.

Asia Pacific markets advanced overnight, with the Kospi gaining 2.1%, the Nikkei rising 1.4%, and the Hang Seng adding 0.5%. European trading is mixed, with the DAX up 0.8% and the FTSE down 0.1%.

In Commodities, Crude Oil and Brent Crude are both up 0.3%, trading above $98.00/bbl and $106.00/bbl, respectively. Gasoline is down 0.5%, trading below $3.20/gallon. Gold is up 0.6% but remains well below $4,200/oz, while Silver has gained 1.4%. Copper is down 1.2%, trading above $6.60/lb.

Treasury yields are steady, with the US 10-year near 5.10% and the US 30-year near 5.40%. In Currencies, the US Dollar Index is down 0.3%, while the Euro and Loonie are each up 0.2%.

US industrial production is due at 9:15 am EDT, with the Street expecting growth of 0.4%.

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