U.S. Stock Futures Rise Ahead of Earnings, Economic Data Release
U.S. stock futures traded higher on Friday, buoyed by strong earnings results from Apple and in anticipation of key economic data releases.
Earnings Drive Optimism
Apple's shares surged pre-market following a first-quarter profit beat. While iPhone and China sales fell short, investors cheered an upbeat revenue outlook.
Economic Data in Focus
Investors awaited a fresh reading of the Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures (PCE) index. The "core" PCE reading, excluding food and energy, matched expectations at 2.8% year-over-year in December.
Tariff Deadline Looms
Concerns over trade tensions lingered as President Trump's Friday deadline for imposing tariffs on Canada and Mexico approached. The possibility of tariffs on other countries, such as BRICS, also weighed on sentiment.
Sector Performance
Futures tied to the Nasdaq 100 climbed 0.7%, led by tech earnings. S&P 500 futures added 0.4%, and Dow Jones Industrial Average futures gained 0.3%.
Notable News
* Deckers Outdoor shares plummeted as the company guided for slower sales growth.
* Novo Nordisk stock faced selling pressure after disappointing clinical data.
* Intel's blunt comments on its financial outlook tempered investor enthusiasm.
* Chevron projected 10% growth in Permian Basin oil production this year.
* Samsung secured a contract to supply less advanced AI memory to Nvidia.