US stocks point higher after index futures trading was halted by technical issue
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Futures for the Dow Jones Industrial Average, S&P 500 and Nasdaq resumed trading with slight gains after being halted for hours due to a technical issue at the Chicago Mercantile Exchange.
Dow futures rose 0.2%, S&P 500 futures gained 0.2% and Nasdaq futures added 0.3%.
CME said trading was halted due to an outage at a CyrusOne data center.
Futures in individual stocks were not impacted by the issues at CME. Coinbase Global rose 2.7% in premarket trading as bitcoin stayed above $91,000. Tech stocks posted gains, with Google parent Alphabet rising 1%.
Wall Street is operating on an abbreviated schedule Friday after being closed for the Thanksgiving holiday. Stock trading closes at 1 p.m. ET.
Wall Street is trying to avoid its first monthly loss since April. The S&P 500 comes into trading Friday with a month-to-date decline of just 0.4% following a four-day winning streak.
In European trading, Germany’s DAX rose 0.2% as traders awaited inflation data set to be released later in the day.
Britain’s FTSE 100 edged up 0.2% on gains in energy and mining stocks. The CAC 40 in France also rose 0.2%.
While developments related to artificial intelligence have been driving recent ups and downs in world markets, the focus remains on the outlook for U.S. monetary policy. Recent comments by Fed officials have helped revive hopes the central bank will cut its benchmark rate again during its meeting next month.
“Everyone is sprinting toward the same conclusion: the Fed will deliver holiday cheer,” Stephen Innes of SPI Asset Management said in a commentary.
In Asia, Japan’s Nikkei 225 closed 0.2% higher to 50,253.91, rebounding from losses earlier in the day. Data showed Japan’s housing starts rose 3.2% in October from the same period a year ago, the first annual increase since March. The number defied market expectations of 5.2% decline and reversed a 7.3% drop in September.
Government data also showed Tokyo’s year-on-year core inflation in November remained at 2.8%, unchanged from October and above the Bank of Japan’s 2% target. That reinforces expectations of a gradual shift by the central bank to higher interest rates, although a rate hike is not expected at the Bank of Japan’s December meeting.
South Korea’s Kospi dropped 1.5% after the country’s industrial production fell 4% month-on-month in October, more than the 1.1% decline in September.
In Chinese markets, Hong Kong’s Hang Seng index lost 0.3%. The Shanghai Composite index edged up 0.3%.
Brent crude, the international standard for pricing, slipped 17 cents to $62.70 per barrel. U.S. crude gained 26 cents to $58.91 per barrel.