Wall Street was on track to open with modest losses Friday, though the retreat before the bell was not enough to negate a broad rebound in markets this week, the Associated Press reports. Futures for the S&P 500 fell 0.1%, while futures for the Dow Jones Industrial Average lost 0.4%. Nasdaq futures ticked down 0.1%.
The slight downturn follows three straight days of gains, propelled by strong corporate earnings and hopes for the Federal Reserve to cut interest rates.
Shares of Alphabet jumped 5% overnight after Google’s parent company reported late Thursday that its profit soared 50% in the first quarter. Google’s stellar results come as the tech giant faces competitive and legal threats amid an economy roiled by a global trade war. Before Friday’s after-hours gain, Alphabet shares had fallen by 16% since the end of last year.
On the losing side in premarket trading was Intel, which beat Wall Street’s quarterly projections but issued conservative guidance for 2025. Executives cited an “increasingly uncertain” economic landscape driven by shifting trade policies, persistent inflation and increased regulatory risks. Intel shares slid 6.8% before markets opened.
In other moves early Friday, U.S. benchmark crude oil shed 80 cents to $61.99 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, slid 81 cents to $64.84 per barrel.
The U.S. dollar rose to 143.29 Japanese yen from 142.69 yen.
