U.S. stock futures fell on Friday following Thursday’s record moves. This comes as investors weigh the outcomes of President Donald Trump‘s visit to China.
President Trump concluded a business-focused visit to Beijing on Friday, securing deals for major U.S. companies like Boeing Co. (NYSE:BA) and Nvidia Corp. (NASDAQ:NVDA). However, complex diplomatic issues regarding Taiwan and Iran remain unresolved.
Meanwhile, the 10-year Treasury bond yielded 4.54%, and the two-year bond was at 4.06%. The CME Group’s FedWatch tool‘s projections show markets pricing a 99.4% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.
| Index | Performance (+/-) |
| Dow Jones | -0.67% |
| S&P 500 | -1.09% |
| Nasdaq 100 | -1.58% |
| Russell 2000 | -1.21% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were lower in premarket on Friday. The SPY was down 1.05% at $740.34, while the QQQ was lower by 1.54% to $708.74.
Stocks In Focus
Figma
- Figma Inc. (NYSE:FIG) soared 10.92% in premarket on Friday after reporting better-than-expected first-quarter financial results and raising its FY26 sales guidance.
- Benzinga’s Edge Stock Rankings indicate that FIG maintains a strong price trend in the short term, but a weak trend in the long and medium terms.
Applied Materials
- Applied Materials Inc. (NASDAQ:AMAT) was 3.08% lower despite reporting better-than-expected second-quarter financial results and issuing strong third-quarter guidance.
- Benzinga’s Edge Stock Rankings indicate that AMAT maintains a strong price trend in the long, medium, and short terms, with a solid quality score.
Nu Holdings
- Nu Holdings Ltd. (NYSE:NU) fell 4.64% higher after reporting mixed results for the first quarter. The company posted quarterly earnings of 18 cents per share, which missed the analyst consensus estimate of 19 cents per share.
- Benzinga’s Edge Stock Rankings indicate that GO maintains a weak price trend in the short, long, and medium terms, with a solid growth score.
Dlocal
- Dlocal Ltd. (NASDAQ:DLO) shares plunged 6.87% despite better-than-expected fourth-quarter results and the announcement of a $300 million share buyback plan.
- Benzinga’s Edge Stock Rankings indicate that DLO maintains a weak price trend in the short, medium, and long terms, with a moderate value score.
Winnebago Industries
- Winnebago Industries Inc. (NYSE:WGO) was 0.53% higher after the company reported second-quarter fiscal 2026 results. The recreational vehicle maker reported adjusted EPS of 27 cents, beating the Street view of 24 cents. Quarterly sales of $657.4 million outpaced the Street view of $627.1 million.
- Benzinga’s Edge Stock Rankings indicate that WGO maintains a weak price trend in the long, medium, and short terms, with a moderate quality score.
Cues From Last Session
Energy, utilities, and information technology stocks recorded the biggest gains on Thursday, leading most S&P 500 sectors to a positive close, while materials and real estate shares bucked the trend to finish lower.
| Index | Performance (+/-) | Value |
| Dow Jones | 0.75% | 50,063.46 |
| S&P 500 | 0.77% | 7,501.24 |
| Nasdaq Composite | 0.88% | 26,635.22 |
| Russell 2000 | 0.67% | 2,863.09 |
Insights From Analysts
Scott Wren, Senior Global Market Strategist at Wells Fargo Investment Institute, advises navigating the current economic landscape with careful precision. Amid geopolitical tensions—including a U.S. blockade and war with Iran—he notes that “the outcome of that meeting [between Trump and Xi] is pure speculation at this point”.
Consequently, Wren argues that the market demands “more selectivity in terms of sectors, industries, and market capitalizations” rather than broadly chasing equities.
Regarding specific stock market sectors, Wren suggests rebalancing away from Energy, which has enjoyed “temporary earnings benefits” but is now considered “fully valued for this point in time”.
On April 6, he officially downgraded Energy to unfavorable and upgraded Information Technology to favorable. Wren highlights that the U.S. possesses a distinct “comparative advantage” due to its abundant natural gas and minimal reliance on Middle Eastern oil imports, providing a reliable energy source for tech companies.
Looking ahead, he expects opportunities to emerge in sub-sectors capable of passing along elevated energy costs, particularly within “artificial intelligence (AI), industrial automation, and defense”.
Upcoming Economic Data
Here’s what investors will be keeping an eye on Friday.
- April’s industrial production and capacity utilization data will be released by 9:15 a.m. ET.
Commodities, Crypto, And Global Equity Markets
Crude oil futures were trading higher in the early New York session by 3.54% to hover around $104.75 per barrel.
Gold Spot US Dollar fell 2.14% to hover around $4,552.68 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.47% higher at the 99.2860 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.91% higher at $80,465.25 per coin, as per the last 24 hours.
Asian markets closed lower on Friday, except India’s Nifty 50 index. Australia’s ASX 200, South Korea’s Kospi, Japan’s Nikkei 225, China’s CSI 300, and Hong Kong’s Hang Seng indices fell. European markets were mostly lower in early trade.
Photo courtesy: Shutterstock
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