One Hot Market Stat to Know Right Now

  • Just over $12 billion in stock has been sold in new U.S. listings this year, up roughly 33% from a year ago according to Bloomberg data. Via TheStreet's @BrianSozzi

Market Snapshot

Global stocks edge higher Thursday, pulling U.S. equity futures into positive territory, as investors creep back into risk markets on the the final trading day of a volatile quarter amid lingering questions over the fate of the tech sector and trade war rumblings between Washington and Beijing.

Early indication from U.S. equity futures suggest another positive start to the trading session on Wall Street, with contracts tied to the Dow Jones Industrial Average marked 59 points higher from Wednesday's closing levels while those linked to the broader S&P 500 were marked 7.75 points, or 0.22% to the upside. Nasdaq futures were marked 32.25 points higher from last night's close. 

The NYSE FANG+ Index, which tracks the moves of ten of the biggest and most active tech stocks in the world, fell a further 2.4% yesterday to a record low 2,382.89 points and 14% from its March 12 peak.

The best-known stocks in the index were mostly higher in pre-market trading, with Action Alerts Plus holdings like Facebook Inc. (FB - Get Report) rising 0.91%, Apple Inc. (APPL) gaining 0.73%, Netflix Inc. (NFLX - Get Report) up 0.96% and Google parent Alphabet Inc. (GOOGL - Get Report) edging 0.71% higher. On-line retailer Amazon Inc. (AMZN - Get Report)   extended yesterday's 4.38% slide with a 0.8% decline after Trump repeated his attack on Jeff Bezos-led tech giant.

I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!

— Donald J. Trump (@realDonaldTrump) March 29, 2018

Tesla Inc. (TSLA - Get Report) shares were also attempting a quarter-end rebound, rising 1.46% in pre-market trading to $261.55 each after officials in Germany, Europe's biggest car market, reversed an earlier decision that prevented the clean-energy car company from applying for taxpayer subsidies for its sales of its Model S. 

The CBOE's Volatility Index, the (VIX.X) , slipped 2.15% from its Wednesday close in global hours trading to 22.38, however, with investors squaring positions and possibly taking profits on the final trading day of the first quarter, markets are likely to remain sensitive throughout the session.

$SPX $VIX It looks kinda bullish on this time-frame, but the market loves to ruin your holiday dinner. pic.twitter.com/xmdveAvm1n

— Volatility Analytics (@VolatilityWiz) March 29, 2018

That said, markets in Asia turned positive into the end of the trading day Thursday even as China warned the United States not to open a "Pandora's Box" on global trade and indicated it could hit several portions of the U.S. economy with reciprocal tariffs if President Donald Trump doesn't pullback from his vow to target $60 billion in China-made goods for specific levies.

European markets got off to a relatively solid start, with the Stoxx 600 index rising 0.36% to 370.55 points, as benchmarks around the region recorded similar percentage gains that were supported by a modestly weaker euro, which drifted to 1.2327 against the U.S. dollar.

Stocks in the region were also given broader support from quarter-end merger speculation, with shares in French carmaker Renault SA (RNLSY) rising more than 4.1% following a report from Bloomberg that its planning to create a single company with its join venture partner, Japan's Nissan Motor Co. (NSANY) .

Swiss Re (SSREY) shares were also on the move, rising more than 2.77% in Switzerland to SFr97.45 each following another Bloomberg report that suggested Japan's Softbank (SFTBY) is ready to pay $9.6 billion for a 25% stake in the reinsurance giant.

Japan's Nikkei 225 rode a late-session rally into a 0.61% gain to close at 21,1559.08 points while South Korea's Kospi Composite gained 0.7% to end the day at 2,436.37 points. The region-wide MSCI Asia ex-Japan index was marked 0.22% as the session drew to a close.

Commodity markets were also active, with yesterday's 1.1 million increase in U.S. domestic oil stocks reported by the Energy Information Administration helping extend declines for global crude markets overnight before weaker U.S. dollar reversed that trade into the European session.

Brent crude futures contracts for June delivery, the global benchmark, were seen 15 cents higher from their Wednesday close at $68.91 while WTI futures for May delivery were marked 30 cents higher at $64.68 per barrel.

Morning Watch

TheStreet's Sozzi got up close and personal Wednesday night for the North American reveal of Lamborghini's latest supercar. Watch below. 

���� North American debut of @Lamborghini Huracan Performante Spyder https://t.co/XHrloQQE27

— Brian Sozzi (@BrianSozzi) March 28, 2018