Wall Street is pointed toward small gains early Friday, according to the Associated Press. Futures for the Dow Jones Industrial Average moved 0.3% higher before the bell, while futures for the S&P 500 and Nasdaq each rose 0.4%.
Tesla rallied early, regaining some of the whopping losses it suffered on Thursday when President Donald Trump and Elon Musk sparred on social media. Shares of Musk’s electric car company rose 4.7% early Friday, a day after tumbling 14.5%.
By the end of Thursday’s trading day, $150 billion of Tesla’s value had been erased, more than what it would take to buy all the shares of Starbucks and hundreds of other big publicly traded U.S. companies.
In other trading early Friday, Lululemon plunged more than 20% after the maker of yoga clothing cut its profit expectations late Thursday as it tries to offset the impact of tariffs while being buffeted by competition from start-up brands. Lululemon — like a slew of other companies recently — said its customers have grown less confident about the economy as Trump’s tariff announcements create uncertainty. .
The yield on the 10-year Treasury held steady at 4.39% after dropping sharply on Wednesday as expectations built that the Federal Reserve will need to cut interest rates later this year to prop up an economy potentially weakened by tariffs.
In energy trading early Friday, U.S. benchmark crude oil lost 7 cents to $63.30 per barrel. Brent crude, the international standard, fell 3 cents to $65.31 per barrel.
The U.S. dollar rose to 144.24 Japanese yen from 143.49 yen.
