From Nasdaq:

U.S. stocks are expected to open weak, following Thursday’s better-than-expected consumer price inflation, as disappointing earnings weigh on equities. Market’s focus shifts to today’s producer price inflation report for signs of pricing pressure at the wholesale level. Sectors mostly ended lower on Thursday except for IT, IT services, and energy stocks. Small-cap stocks underperformed large-cap counterparts.

Ana;ysts and fund managers are closely watching earning reports to determine the S&P 500 Index’s performance. In premarket trading on Friday, the SPDR S&P 500 ETF Trust declined 0.42% to $474.37 and the Invesco QQQ ETF slipped 0.55% to $407.09. The Labor Department is scheduled to release its producer price inflation report for December at 8:30 a.m. ET.

Tesla, Inc. fell over 3% in premarket trading after announcing price cuts in China and Giga Berlin halting operations. Energy stocks might gain due to disruptions in Red Sea shipments. UnitedHealth Group moved down over 4% despite an earnings beat. Commodities, Bonds, Other Global Equity Markets: Crude oil futures rallied 4.14% to $75 in early European session on Friday amid the strife in the Red Sea.

Japanese Nikkei 225 Average reached new multi-month highs. Traders reacted to inflation data released from the U.S. and China. China’s trade surplus increased month-over-month in December, as exports and imports climbed. The European market advanced on Friday, rising notably by late-morning trading. The greenback was firmer against most major currencies.

Early optimism seen among cryptocurrencies in the wake of the spot Bitcoin ETF approval has waned, with the apex currency now back at around $46,000. Fed has ‘already lost’ inflation war, says gold bull Peter Schiff.



Read more: Nasdaq, S&P 500 Futures Recede As Traders Digest Mixed Bank Earnings: All Eyes Now On Producer Inflation Data