U.S. stock futures are pointing higher as investors look for a market recovery following last week's declines. The Dow Jones Industrial Average futures are up by 0.7% after the blue-chip index experienced its worst week since October. Both the S&P 500 and Nasdaq futures have risen by approximately 0.5%. Investors are keenly awaiting earnings from Nvidia (NVDA) and the release of January inflation data later this week. Bitcoin (BTCUSD) is slightly down, trading just under $96,000. Meanwhile, yields on the 10-year Treasury note and gold futures are seeing a slight increase, while oil futures remain mostly unchanged.
Apple (AAPL) has revealed ambitious plans to invest $500 billion in the United States over the next four years. This investment includes a new Texas factory dedicated to producing servers for the company's AI platform, Apple Intelligence. Additionally, Apple intends to double its U.S. Advanced Manufacturing Fund, with a significant portion allocated to producing advanced silicon at TSMC's Fab 21 facility in Arizona. Despite this major announcement, shares of Apple are down less than 1% in premarket trading.
Shares of Domino's Pizza (DPZ) are falling by nearly 4% in premarket trading following mixed fourth-quarter results. Although the company reported higher-than-expected profits, its sales figures fell short of analyst expectations. Domino's reported earnings per share (EPS) of $4.89 on revenue of $1.44 billion, missing the projected EPS of $4.87 and revenue of $1.48 billion. The pizza chain's U.S. same-store sales grew by just 0.4%, below the 1.5% consensus, while international same-store sales exceeded expectations with a 2.7% increase.
According to a report by TD Cowen, Microsoft (MSFT) is canceling leases for AI data center capacity in the U.S. This move raises questions about whether the company, a backer of OpenAI, is developing more AI computing power than necessary for the long term. The canceled leases amount to a couple of hundred megawatts of capacity, as noted by Bloomberg. Microsoft also plans to reallocate some international spending back to the U.S. Despite these changes, shares of Microsoft are showing little change in premarket trading. The company had previously announced plans to invest $80 billion in AI infrastructure this year.
The Chinese e-commerce giant, Alibaba Group (BABA), has announced plans to invest a staggering $52 billion in AI and cloud computing infrastructure over the next three years. This significant commitment underscores Alibaba's focus on enhancing its technological capabilities and infrastructure. Investors will be closely monitoring how this investment impacts Alibaba's growth trajectory and competitive positioning in the global tech landscape.
