Here’s what we’re watching before Friday’s trading gets underway.

U.S. stock futures fell, putting the S&P 500 on track for its worst week in a month following a sharp selloff in technology stocks.

Futures tied to the S&P 500 slipped 0.3% after the index ended the previous session down almost 2% for the week. Contracts linked to the Nasdaq-100 shed 0.5% on Friday, suggesting tech stocks may continue to retreat. Read our full market wrap.

What’s Coming Up

Earnings are due before the opening bell from


DKNG -4.10%

U.S. personal income for January, due at 8:30 a.m. ET, is expected to increase 9.5% and consumer spending is expected to grow 2.5% from a month earlier. The University of Michigan’s consumer sentiment index for February, due at 10 a.m., is expected to tick up to 76.8 from a preliminary reading of 76.2.

Market Movers to Watch

—The “meme” stocks are bouncing around ahead of the bell.


GME 18.56%

is up 8.4%,


KOSS 16.76%

is down 12% and

AMC Entertainment

AMC -8.80%

is down 4.1%.


WDAY -4.41%

shares dropped 6.5% premarket, even though the online human-resource services provider reported an earnings beat, as its revenue has jumped amid demand for online services amid the pandemic.


DASH -5.36%

slumped 11% premarket after the food-delivery service said it sees the days of breakneck growth coming to an end as vaccinations sweep the country and the economy crawls toward reopening.

A bike messenger carries a DoorDash bag New York, Dec. 9, 2020. DoorDash logged $970 million in revenue over the final quarter of 2020


Michael Nagle/Bloomberg News


CRM -3.90%

shares fell 3.6% premarket. The business software provider posted record sales and lifted its outlook for the current year.


ETSY -5.51%

shares jumped 5.8% premarket. After riding the initial wave of demand for handmade face masks last spring, Etsy said mask sales shrunk as a portion of the company’s sales, even as overall sales accelerated.


ABNB -9.06%

shares added 1.4% premarket. The home-sharing giant posted a steep annual loss in its first earnings as a public company, as costs tied to its market debut capped a year in which the pandemic ravaged the travel industry.

Beyond Meat

BYND -5.46%

shares gained 4.7% after it said it struck deals to supply plant-based meat imitations to McDonald’s,


and Pizza Hut, a victory in its effort to take meat alternatives into the American dining mainstream.

Market Fact

The yield on the benchmark 10-year Treasury note reached as high as 1.539% before finishing Thursday’s session at 1.513%, according to


its highest level in a year.

Chart of the Day

Initial public offerings for mortgage lenders haven’t worked out the way all the companies were hoping.

Must Reads Since You Went to Bed

Mortgage Companies Want In on the IPO Boom. Investors Aren’t Convinced.

GameStop Resurgence Reinforces New Reality for Hedge Funds

Top Pension Fund Head Beat Canada’s Covid-19 Vaccine Queue by Getting a Shot in Middle East

U.S. Farmers are Planting More Row Crops Than Ever

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8


Source link