Stock futures are indicating a mixed start for Wall Street on Thursday, following the Dow Jones Industrial Average closing at a new all-time high and the S&P 500 inching closer to its own record. The market is anticipating a potential interest rate cut by the Federal Reserve next year.
Key Stocks in Focus
Microsoft: Artificial Intelligence Driving Growth Trajectory
Microsoft is gaining traction in premarket trading, with a 0.2% rise to $374.87. Analysts at Wedbush have raised their price target on the stock to $450 from $425, maintaining an Outperform rating. According to Wedbush, Microsoft’s strong focus and advancements in artificial intelligence will significantly impact its cloud growth trajectory in the coming years. However, Microsoft and OpenAI are currently facing a lawsuit by the New York Times for allegedly using the newspaper’s content without permission.
Apple Sees Relief from Government Ban
After closing with a slight gain on Wednesday, ending a four-session losing streak, Apple is showing signs of improvement in premarket trading, with a 0.3% rise. The technology giant recently obtained a temporary reprieve from a U.S. government ban on selling certain Apple Watch models.
Chile’s SQM Forms Partnership for Lithium Development
Chile’s SQM and the National Copper Corporation of Chile (Codelco) have entered into a public-private partnership to develop lithium resources in the Salar de Atacama. This partnership is set to run from 2025 to 2060 and has led to a significant jump of 5.4% in SQM shares.
Marathon Digital Holdings Riding Bitcoin’s Success
Cryptocurrency miner Marathon Digital Holdings has experienced strong gains lately, with a 1.7% rise in premarket trading following a 15% surge on Wednesday. This winning streak has now extended to 11 sessions. The surge in Marathon Digital and other cryptocurrency-related stocks can be attributed to the sharp 162% gain in Bitcoin’s value this year.
EchoStar to Replace Dish Network in S&P SmallCap 600 Index
EchoStar has been selected to replace Dish Network in the S&P SmallCap 600 index, effective January 2. This decision was made after it was announced in August that EchoStar would be merging with the pay-TV provider, Dish.
