Nasdaq Futures Rally as ASML Provides a Boost, Fed Decision and Big Tech Earnings Awaited

Economic Data - The U.S. Conference Board's consumer confidence index fell to an 11-1/2-year low of 84.5 in January, below expectations of 90.6 [1] - The U.S. November S&P/CS HPI Composite - 20 n.s.a. rose by 1.4% year-over-year, exceeding expectations of 1.2% [1] - The U.S. Richmond Fed manufacturing index increased to -6 in January, slightly below expectations of -5 [1] Stock Market Performance - Wall Street's major indexes closed mixed, with the S&P 500 reaching a new record high [2] - Corning (GLW) surged over 15% after announcing a multiyear deal worth up to $6 billion with Meta Platforms for data center materials [2] - Micron Technology (MU) rose more than 5% after announcing a $24 billion investment in Singapore to expand manufacturing capacity [2] - General Motors (GM) advanced over 8% following better-than-expected Q4 adjusted EPS and solid FY26 guidance [2] - UnitedHealth Group (UNH) dropped more than 19% after projecting a revenue decline for 2026 [2] Corporate Earnings - ASML Holding (ASML) shares climbed over 6% after reporting Q4 net bookings nearly double analysts' forecasts and expecting solid sales growth [3][12] - The Magnificent Seven companies, including Microsoft (MSFT), Meta Platforms (META), and Tesla (TSLA), are expected to deliver 20% profit growth in Q4, the slowest pace since early 2023 [6] - Seagate Technology Holdings (STX) jumped more than 10% after posting upbeat FQ2 results and strong FQ3 guidance [14] International Market Developments - The Euro Stoxx 50 Index fell by 0.10%, with luxury stocks like LVMH declining over 7% due to weak sales growth [8] - China's Shanghai Composite Index closed up 0.27%, with non-ferrous metal stocks rising as gold prices reached a record high [10] - Japan's Nikkei 225 Stock Index closed slightly higher, boosted by technology stocks following ASML's strong results [11] Federal Reserve and Economic Outlook - The Federal Reserve is expected to keep the Fed funds rate unchanged in a range of 3.50% to 3.75% [5] - Investors are anticipating signals from Fed Chair Jerome Powell regarding future rate cuts, with a 25-basis-point cut fully priced in for July [5]