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
—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.
is up 8.4%,
is down 12% and
is down 4.1%.
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.
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.
shares fell 3.6% premarket. The business software provider posted record sales and lifted its outlook for the current year.
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.
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.
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.
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
Chart of the Day
Initial public offerings for mortgage lenders haven’t worked out the way all the companies were hoping.
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