U.S. stock futures were mixed on Friday following Thursday’s decline, after President Donald Trump announced the extension of the ceasefire between Israel and Lebanon by three weeks.
On Thursday, the Dow Jones index closed 179 points lower as investors gauged the evolving Middle East conflict and a downturn in the software sector.
Meanwhile, the 10-year Treasury bond yields stood at 4.316%, and the two-year bond was at 3.831% at the time of writing. The CME Group’s FedWatch tool‘s projections show markets pricing a 99.5% likelihood of the Federal Reserve leaving the current interest rates unchanged in April.
| Index | Performance (+/-) |
| Dow Jones | -0.20% |
| S&P 500 | -0.028% |
| Nasdaq 100 | 0.56% |
| Russell 2000 | -0.16% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were higher in pre-market on Friday. The SPY was up 0.21% at $709.82, while the QQQ surged 0.75% to $656.40.
Stocks In Focus
Intel
- Intel Corp. (NASDAQ:INTC) reported better-than-expected first-quarter results and issued second-quarter guidance above estimates. INTC shares surged 22.64% in pre-market trading.
- INTC maintains a strong price trend over the short, medium, and long terms, as per Benzinga’s Edge Stock Rankings.
SAP SE
- SAP SE (NYSE:SAP) reported better-than-expected results in the first quarter, with earnings per share of $2.01, compared to an estimated $1.92. SAP shares surged 6.52% in pre-market trading.
- SAP maintains a weak price trend over the short, medium, and long terms, as per Benzinga’s Edge Stock Rankings.
Lunai Bioworks
- Lunai Bioworks Inc. (NASDAQ:LNAI) on Thursday announced that it had executed a binding transaction worth $20 million with Clemann Group for its blood-brain barrier technology. LNAI shares surged 15.29% in pre-market trading.
- LNAI maintains a weak price trend over the short, medium, and long terms, as per Benzinga’s Edge Stock Rankings.
Procter & Gamble
- Analysts are expecting Procter & Gamble Co. (NYSE:PG) to post quarterly earnings at $1.56 per share on revenue of $20.52 billion. The company will release earnings before the markets open. PG shares slipped 0.66% in pre-market trading.
- PG maintains a weak price trend over the short, medium, and long terms, as per Benzinga’s Edge Stock Rankings.
FreeCast
- FreeCast Inc. (NASDAQ:CAST) signed an agreement with DIRECTV Multifamily for distributing its streaming services nationally. CAST shares soared 61.9% in pre-market trading.
- CAST maintains a weak price trend over the short, medium, and long terms, as per Benzinga’s Edge Stock Rankings.
Cues From Last Session
The utilities, industrials and consumer staples sectors recorded the biggest surge on Thursday. Information Technology, consumer discretionary and financials recorded the biggest decline.
| Index | Performance (+/-) | Value |
| Dow Jones | -0.36% | 49,310.32 |
| S&P 500 | -0.41% | 7,108.40 |
| Nasdaq Composite | -0.89% | 25,438.50 |
| Russell 2000 | -0.37% | 2,775.10 |
Insights From Analysts
Analysts at Schwab noted that geopolitics and oil remain the market’s swing factors currently. Even though oil at $100 per barrel has not hurt equities so far, the firm notes that these elevated prices keep inflation sensitivity high.
The firm added that this could quickly cause a rise in rates and risk premiums if the price rises from current levels near $96 per barrel.
The next week will be big on economic data and the release of the latest earnings reports from five of the seven Magnificent Seven companies.
Upcoming Economic Data
- On Friday, the University of Michigan’s final Consumer Sentiment Index reading for April will be released at 10 a.m. ET.
- The New York Fed Staff Nowcast is also due Friday.
Commodities, Crypto, And Global Equity Markets
Crude oil futures were trading higher in the early New York session by 1.36% to hover around $97.15 per barrel.
Gold Spot US Dollar declined 0.15% to hover around $4,687.14 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.02% lower at the 98.7490 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.07% lower at $77,822.62 per coin, as per the last 24 hours.
Asian markets closed mixed on Friday. India’s Nifty 50 and Australia’s ASX 200 indices closed lower, while South Korea’s Kospi, Hong Kong’s Hang Seng and Japan’s Nikkei 225 indices surged. European markets were mostly lower in early trade.
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