Here’s what we’re watching before Friday’s trading action gets underway.
- U.S. stock futures were mixed after fresh data showed the unemployment rate ticked higher even as businesses have struggled to fill some job openings.
- Futures tied to the S&P 500 ticked up 0.3%, a day after the broad-market index closed near its all-time high. Nasdaq-100 futures jumped 1.2% higher. Futures linked to the Dow Jones Industrial Average were down 0.1% after the blue-chips index notched a closing record Thursday. Read our full market wrap here.
What’s Coming Up
- U.S. wholesale inventories for March, due at 10 a.m., are expected to rise 1.4% from a month earlier. U.S. consumer credit for March is out at 3 p.m.
Market Movers to Watch
- GoPro shares rocketed 9.7% higher premarket. The camera maker said demand for its more high-end cameras and an uptick in subscriptions helped boost its first-quarter revenue.
- Peloton shares added 5.7% ahead of the bell. The connected-fitness company said a recall of its treadmills will dent revenue and profit.
- AMC Entertainment gained 2.1% premarket after the theater chain said it has benefited as rivals stayed shut or went bankrupt during the pandemic.
- Beyond Meat dropped 7.8% premarket. The plant-based food company is gearing up to help produce McDonald’s soon-to-come McPlant products, but in the meantime Covid-19 has shrunk the number of restaurants where consumers can buy Beyond Burgers.
- Energy Transfer rose 4% premarket. The pipeline operator benefited from surging natural gas prices during the February storm in Texas.
- Square gained 5.1% after the payments company reported a hefty pop in revenue in the first quarter because of bitcoin.
- Expedia rallied 6.1% after the online travel company’s results came in better than expected.
- Roku jumped 11% premarket. The streaming-media service continued to see a boost from homebound customers consuming more entertainment content during the pandemic.
- Dropbox gained 2.8% premarket. The technology company’s quarterly revenue was up 12% from the same period a year ago.
- DraftKings rose 4.1% premarket after the sports-betting company posted a steeper first-quarter loss, but revenue year-over-year that grew along with the site’s user base.
Market Facts
- Copper prices on Friday were on course to close at record highs. Copper futures on CME Group’s Comex rose 1.2% to $4.66 a pound, surpassing their closing record of $4.63 from 2011.
- Healthcare stocks notched the smallest gain of the S&P 500’s 11 sectors on Thursday, rising less than 0.1%, after having traded in the red for much of the day on the U.S. decision to back an effort to open up the intellectual property underpinning Covid-19 vaccines.
Chart of the Day
- House prices around the world have rallied through the economic turmoil. Growing leverage and decreasing affordability raise both financial and political risks, writes Heard on the Street columnist Mike Bird.
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