Stock futures pointed higher Friday, a day after major indexes sank amid risk-off sentiment. Still, the Nasdaq and S&P 500 were poised to register sharp weekly losses.
Nasdaq 100, S&P 500, and Dow Jones Industrial Average futures were up a respective 0.6%, 0.5%, and 0.5%.
Yesterday, the tech-heavy Nasdaq and benchmark S&P 500 posted their third straight losing sessions, falling 1.6% and 1.2%, respectively, while the blue-chip Dow Jones Industrial Average finished down 1.2%, or nearly 600 points.
The Nasdaq and S&P 500 entered Friday down a respective 4% and 2% for the week, while the Dow was fractionally higher. The Nasdaq—which was on pace for its worst week since last April—and Dow have fallen the past three weeks, while the S&P 500 snapped a two-week losing streak last Friday.
Amazon (AMZN) stock sank 8% in premarket trading following a disappointing earnings report after the bell yesterday. Shares of its Magnificent Seven brethren were mixed, with Nvidia (NVDA) leading gainers with a roughly 3% advance. Microsoft (MSFT), the biggest decliner of the group Thursday with a 5% drop, was 1.5% higher before the bell.
Another notable tech company, Qualcomm (QCOM), rebounded mildly after its stock sank 8.5% yesterday after executives attributed the firm’s soft current-quarter forecasts to the global memory shortage.
Shares of “Big Three” automaker Stellantis (STLA) plummeted 27% before the bell after it announced a business “reset” that includes a roughly $26 billion charge.
In post-earnings moves, shares of Roblox (RBLX) surged 15%, Reddit (RDDT) jumped 10%, Doximity (DOCS) plummeted 32%, Molina Healthcare (MOH) dropped 28%, Newell Brands (NWL) retreated 12%, and Coty (COTY) stock dropped 8%.
Bitcoin tumbled yesterday and sank to just above $60,000 overnight before rebounding. It recently traded around $65,800, but still was down about 15% this week and at its lowest level since October 2024. Shares of bitcoin treasury firm Strategy (MSTR) rose 6% before the bell after diving 17% to pace Nasdaq decliners yesterday, and crypto-tied firms MARA Holdings (MARA), Coinbase Global (COIN), and Robinhood Markets (HOOD) rebounded a respective 7.5%, 6%, and 5.5%.
Silver futures fell 3% to about $74 an ounce, well off their high of about $121.75 on Jan. 29. Gold futures, which had surged to roughly $5,625 an ounce the same day last week, ticked higher to $4,900.
The yield on the 10-year Treasury—which impacts interest rates on a variety of consumer loans including mortgages—rose to 4.20% from Thursday’s close of 4.18%.
West Texas Intermediate crude futures, the U.S. benchmark, were little changed at $63.35 a barrel. The U.S. dollar index, which tracks the value of the greenback against a basket of global currencies, was near flat at 97.83.