Here’s what we’re watching ahead of Friday’s opening bell.
—U.S. stock futures fell as retail investors buoyed
and other shares, pointing to a volatile end to 2021’s first month of trading. For our live blog on the short-squeezed shares, follow this link.
Futures tied to the S&P 500 declined 0.6%, suggesting a reversal in direction after a nearly 1% rise Thursday. Those linked to the Nasdaq-100 retreated 0.9%. Read our full market wrap.
What’s Coming Up
—Earnings reports are expected from
—Consumer spending for December, due at 8:30 a.m. ET, is expected to drop 0.4% from the month before. The University of Michigan’s consumer sentiment index for January, due at 10 a.m., is expected to hold steady at 79.2, unchanged from a preliminary reading.
—U.S. pending-home sales for December, due at 10 a.m., are expected to fall 0.2% from a month earlier.
Market Movers to Watch
—Reddit rally ructions: The now-familiar troupe of stocks whose high-flying shares took a hit on Thursday are back on the rise.
Bed Bath & Beyond,
are all rocketing higher ahead of the bell. In GameStop’s case, the percentage rise is triple digits.
—Unlike other soaring stocks this week, shares of
didn’t have their wings clipped on Thursday, rising more than 9%. In premarket on Friday they were up another 11%.
—Shares of heavy-equipment maker
jumped 3.6% premarket after its quarterly earnings beat estimates.
saw its shares fall 4.3% premarket after it reported flat sales in the recent quarter.
climbed 2.9% premarket after the maker of audio and imaging products’ earnings report beat expectations.
down 1.1% premarket, set a 2035 target date for phasing out gasoline- and diesel-powered vehicles from its showrooms globally.
both logged smaller declines in quarterly revenue than in recent periods, but the pandemic continued to spur weakness in cross-border spending. Visa’s shares added 0.4% premarket, Mastercard’s ticked lower by 1.3%.
Most-actively traded silver futures rose 4.4% to $27.14 a troy ounce Friday. Up 6% for the week, they are on track for their biggest one-week advance since mid-December.
Chart of the Day
American Airlines’ latest numbers were bad enough to justify bearish Wall Street bets against it. In today’s topsy-turvy market, this all but guarantees stock gains, writes Heard on the Street columnist Jon Sindreu.
Must Reads Since You Went to Bed
Hedge Fund Billionaire Takes Climate Fight to S&P 500
WeWork in Talks to Combine With SPAC or Raise Money Privately
China’s Top Bottled-Water Group Swells to an $85 Billion Valuation
German Regulator Reports Employee for Suspected Wirecard Insider Trading
China’s HNA Says Creditors Filed Petition for Its Bankruptcy
Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8