Futures Signal Higher Start
S&P futures vs fair value: +8.00. Nasdaq futures vs fair value: +17.50. The stock market is on track for a modestly higher open as futures on the S&P 500 trade eight points above fair value. The slightly higher open will put the market on track to continue its rebound off this week's low. The S&P 500 remains down 0.4% for the week while the Nasdaq is down 0.6% since last Friday. In earnings news, Taiwan Semiconductor Manufacturing Company (TSM 123.02, +3.79, +3.2%) is on course for a firmly higher start after beating Q4 expectations and issuing strong revenue guidance for Q1. Another chipmaker-Intel (INTC 58.40, +1.45, +2.6%)-is also tracking a higher start after jumping yesterday. The stock has been boosted by four analyst upgrades. Economic data released today showed a significant spike in weekly jobless claims (actual 965,000; Briefing.com consensus 780,000), lifting the tally to its highest level since late August. Treasuries are little changed with the 10-yr yield up hovering near 1.09%.