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Futures started to rally ahead of the European open, and have given up some of those gains as we head into the trading day.  The key stock to watch today will be Microsoft (MSFT), which despite positive earnings is trading lower in the pre-market.  The stock had a strong run leading into the earnings report, so it’s understandable that investors took profits, but we’ll have to watch to see if this type of reaction to earnings becomes a trend.

Be sure to check out today’s Morning Lineup for a rundown of the latest stock-specific news of note, key earnings news in Europe and the US, global economic data, trends related to the COVID-19 outbreak, and much more.

Whenever the market strings together daily declines, it’s often referred to as being in a funk.  In the case of the Nasdaq, though, the last two months have been ‘funk-free’.  With yesterday’s gain, the Nasdaq has now gone 48 trading days without seeing back to back declines.  In the entire history of the Nasdaq dating back to 1971, this current streak is now tied for the longest streak of all-time.  Not only that but because yesterday was positive, the current streak is guaranteed to go at least another trading day.