Wall Street inched toward tiny losses early Friday as markets digested a mixed bag of corporate news, according to the Associated Press. Futures for the S&P 500, the Dow Jones Industrial Average and Nasdaq were all down 0.1% or less before the bell.
The Gap was one of the biggest decliners in premarket, tumbling 15% despite beating Wall Street’s sales and profit targets. Investors were more concerned with the retailer’s prediction that if tariffs on China and other countries remain, it could cost the company between $250 million and $300 million this year.
Another mall-based retailer, Ulta Beauty, rose 8% after it reported stronger sales and profit than analysts forecast and raised its full year guidance.
Shares of Google parent Alphabet were largely stagnant ahead of closing arguments in a legal proceeding that will determine the changes imposed upon the company after being declared an illegal monopoly by a federal judge last year.
In energy trading, benchmark U.S. crude dipped 7 cents to $60.87 per barrel. Brent crude, the international standard, lost 10 cents to $63.25 per barrel.
In currency trading, the U.S. dollar declined to 143.68 Japanese yen from 144.12 yen.
