- Stock futures show a mixed outlook ahead of US inflation data.
- S&P and Nasdaq-100 futures rise; The Dow slides slightly.
- S&P 500 hits all-time high; Market sentiment changes with economic indicators.
Stock futures were mixed on Friday morning. Investors were looking to extend the market's recent rally. They also braced themselves for new inflation statistics. S&P futures rose 0.2% and Nasdaq-100 futures rose 0.6%. In contrast, Dow futures fell 41 points, a drop of 0.1%.
Coinbase Surges 12% After Beating Q4 Earnings
A busy day is expected for economic reports. A modest gain of 0.1% is forecast. Information about the real estate market will also be available. These figures could significantly influence the direction of the market. The data comes amid investor scrutiny of the economic health of the United States. This follows unexpected consumer price index data and a notable drop in January retail sales. Coinbase shares saw a significant jump of over 12% in early trading on Friday. This surge came as the cryptocurrency trading platform announced fourth-quarter earnings that far exceeded analyst predictions.
Coinbase reported earning an adjusted $1.04 per share, with revenue reaching $954 million. This performance contrasts sharply with expectations set by LSEG analysts, who had forecast a slight loss of 1 cent per share and revenue predictions of $822 million.
Market Optimism as S&P 500 Sets New Record
Despite some economic concerns, there is optimism. LPL Financial's Adam Turnquist highlights a silver lining. Fed policies and market expectations are becoming better aligned. Reduces market fluctuations. Additionally, positive economic data has eased fears of a serious recession. Thursday ended with the S&P 500 at a new high. Both the Dow and Nasdaq also posted gains. However, the overall market movement during the week is mixed. The S&P is up slightly, the Dow Jones is up, but the Nasdaq is down slightly.
This snapshot offers a glimpse of the current balancing act in the stock market. Investors remain cautious but hopeful as new data is revealed, navigating conflicting signals to gauge the direction of the economy.
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