Market Opens Steady with Levi Strauss Surge and Mixed Commodity Movements

S&P 500 Futures Steady; Levi Strauss Surges 7.8% on Raised EPS Forecast, Alphabet Falls 0.6%

By Athena Xu

4/4, 07:38 EDT
General Electric Company
Alphabet Inc.
Levi Strauss & Co
3M Company

Key Takeaway

  • S&P 500 futures indicate a steady market opening, with Levi Strauss & Co. surging 7.8% postmarket after raising its EPS forecast.
  • Brent crude and gold futures see minor declines, while Bitcoin rises by 0.56% to $66,240, reflecting mixed commodity market movements.
  • Alphabet and Reddit shares fall by 0.6% in postmarket trading amid broader market stability and sector-specific news.

Market Movements

U.S. stock futures indicated a steady start to the trading day, with S&P 500, Nasdaq 100, and Dow Jones Industrial Average futures all remaining unchanged. This stability comes after a regular trading session where the S&P 500 saw a slight increase, buoyed by sectors such as S&P Communication Services and S&P Energy. Meanwhile, the Cboe Volatility Index futures saw a minor decline of 0.3%, and the U.S. Dollar Index fell by 0.3%. The 10-Year Treasury yield was noted at 4.347%.

Commodities and Currencies

In the commodities market, Brent crude oil futures experienced a slight decrease of 0.02%, while gold futures were down by 0.09%. Bitcoin, on the other hand, saw an increase of 0.56% to $66,240. These movements reflect the ongoing fluctuations in the commodities and currencies markets, impacting investor sentiment and market dynamics.

Postmarket Activity

Postmarket trading highlighted several movers in the market. Levi Strauss & Co. saw a significant increase of 7.8% after boosting its adjusted EPS forecast, indicating positive investor response to the company's financial outlook. Other notable movements included Sportsman's Warehouse with a 1% increase, despite its FY net sales forecast missing estimates, and slight gains for GE and 3M Co, both of which recently joined the S&P 500. On the decline, Reddit and Alphabet both fell by 0.6%, with Alphabet's drop attributed to reports of potential fees for AI search services.