Stock futures rose slightly on Wednesday as yields fell to their lowest level in two months. Futures tied to the S&P 500 futures climbed 0.3%, while Dow Jones Industrial Average futures added 43 points, or 0.1%.Nasdaq 100 futures gained 0.4%. The yield on the 10-year Treasury declined by more than 2 basis points to 4.394%. Yields fell across the board, with the 30-year Treasury falling by nearly 4 basis points to 4.54%, its lowest point since Sept. 22. The S&P 500 and Nasdaq Composite on Tuesday ended a five-day winning streak, as the blistering November rally took a pause. The Dow also closed lower. Those moves came after the Federal Reserve signaled in its latest meeting notes that monetary policy will remain restrictive, and gave no indication of cutting interest rates anytime soon. Chipmaker Nvidia reported its latest quarterly results Tuesday after the bell. The company posted fiscal third-quarter adjusted earnings and revenue that beat expectations, but warned export restrictions on China would weigh on its fiscal fourth quarter. The lackluster response to the quarterly beat suggests to some investors Nvidia’s stock may be overvalued after its more than 200% rise this year. This week, Nvidia shares crossed the $500 threshold for the first time to an all-time high. It closed Tuesday at $499.44, down 0.9%. “It’s a great quarter,” trader Guy Adami said Tuesday on CNBC’s “Fast Money.” “But at what point do you say to yourself, you know what, now the valuation is starting to get a little bit stretched. We understand it can grow into it, but we’re going to start taking profits in the name.” Shares of Nvidia rose about 0.5% Wednesday during premarket during. The New York Stock Exchange is closed for Thanksgiving on Thursday and will close early on Friday. Asia-Pacific markets were mixed after minutes from the U.S. Federal Reserve’s Oct. 31 meeting revealed that policy officials maintained that monetary policy had to be restrictive and had little appetite for rate cuts. Japan’s Nikkei 225 rebounded from two straight days of losses to rise 0.29% and end at 33,451.83, while the Topix added 0.44% to 2,378.19. South Korea’s Kospi climbed marginally, marking a third day of gains and closing at 2,511.7. In contrast, the Kosdaq shed 0.29%, ending the day at 814.61. Hong Kong’s Hang Seng index was flat, while China’s CSI 300 index closed 1.02% lower at 3,544.42. In Australia, the S&P/ASX 200 was down marginally, reversing earlier gains and closing at 7,073.4. U.S. crude prices fell about 5% Wednesday after the Organization of Petroleum Exporting Countries delayed a pivotal meeting on production cuts that was scheduled for the weekend. The West Texas Intermediate contract for January dropped $3.87, or 4.98%, to $73.90 a barrel, while the Brent contract for January fell $3.85, or 4.67%, to $78.60 a barrel. Gold prices hovered near the key $2,000 level on Wednesday, as expectations of an end to the U.S. Federal Reserve’s rate hike cycle kept the dollar and U.S. bond yields subdued. Spot gold was up 0.2% at $2,001.89 per ounce, after rising as high as $2006.19 earlier in the session. Bullion scaled a three-week high of $2,007.29 on Tuesday. U.S. gold futures were up 0.1% at $2,003.90.
Roodeweg 222, Willemstad, Curaçao