Wall Street was poised to open with gains Friday after another U.S. pivot on tariffs kicked off the third market sell-off in four days, according to the Associated Press. Futures for the S&P 500 gained 0.3% before the bell, while futures for the Dow Jones Industrial Average were up 0.2%, and Nasdaq futures rose 0.4%.
The high growth, tech heavy Nasdaq, however, tumbled 4% into correction territory this week. The S&P shed. 3.6% over the last four days and closed at its lowest point since early November on Thursday. The Dow has slid about 2.9% since Monday.
In equities trading, chipmaker Broadcom soared 11.1% after it beat sales and profit expectations while giving an optimistic forecast based on strong demand for AI chips.
Walgreens Boots Alliance jumped 5.9% after the pharmacy and drug store chain agreed to be acquired by private equity firm Sycamore Partners for about $10 billion. The buyout would take the struggling chain private for the first time since 1927 and give it more flexibility to make changes to improve its business without worrying about Wall Street’s reaction.
Bitcoin traded near $89,106, down 1.2%, according to CoinDesk, after President Donald Trump signed an executive order Thursday establishing a government reserve of bitcoin, a key marker in the cryptocurrency’s journey toward possible mainstream acceptance.
