The S&P 500 and Nasdaq are going for a sixth-consecutive win today
Stock futures are steady on the heels of a fifth-consecutive win from both the Nasdaq Composite (IXIC) and S&P 500 Index (SPX). Earnings season remains in focus today, with investors digesting reports from the likes of IBM (IBM), Tesla (TSLA), and several airlines.
On the economic front, all eyes are on gross domestic product (GDP) data, which showed the U.S. economy enjoyed a better-than-expected 3.3% growth for the fourth quarter. Before the bell, futures on the Nasdaq-100 Index (NDX) and S&P 500 are cautiously higher, while Dow Jones Industrial Average (DJI) futures sit just below breakeven.
Continue reading for more on today's market, including:
- All eyes the Federal Reserve next week.
- This foolproof "buy" signal has never been wrong.
- Plus, Tesla, IBM move in opposite directions; and Nokia reveals buyback program.

5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.4 million call contracts and 1 million put contracts traded on Wednesday. The single-session equity put/call ratio rose to 0.67, and the 21-day moving average remained at 0.71.
- Electric vehicle (EV) stock Tesla Inc (NASDAQ:TSLA) is plummeting 6% before the bell, after the company posted disappointing auto revenue and a significantly lower volume growth outlook year-over-year (YoY). Tesla's adjusted earnings per share (EPS) of 71 cents came in short of the 74 EPS estimate. Heading into today, TSLA was already facing a 21% six-month deficit.
- On the flip side, tech stock IBM Common Stock (NYSE:IBM) is enjoying an 8% premarket pop, after posting a top- and bottom-line beat for the fourth quarter. A 4% YoY revenue surge and news the company plans to purchase more software assets in 2024, has the stock flirting with decade-level highs.
- Nokia Oyj (NYSE:NOK) stock is surging this morning, slated to open up 8.5% after announcing plans for a two-year buyback program, valued at 600 million euro. Net sales for the telecommunications stock's Q4 pulled back, however, and year-over-year, NOK has shed 25%.
- Earnings continue to dominate this week.

People's Bank of China Note Sends Asian Markets Higher
Stocks in Asia were higher Thursday, led by outsized moves in China and Hong Kong, after the People’s Bank of China said it would reduce reserve requirements for lenders in the country through 2024. The Shanghai Composite led the region with a 3% lead, while the Hang Seng tacked on 2%, with property stocks driving gains in both indexes. Elsewhere, Japan’s Nikkei and South Korea’s Kospi both rose 0.03%, with the latter’s fourth-quarter GDP growing at a faster-than-expected pace.
European markets, meanwhile, are lower this afternoon, as traders await the European Central Bank’s (ECB) latest monetary policy decision. At last glance, France’s CAC 40 is 0.6% lower, Germany’s DAX is down 0.4%, and London’s FTSE 100 is off by 0.2%.