The economic calendar of the day is relatively light, with St. Louis Fed President Alberto Musalem scheduled to speak at 10 a.m. ET.
The U.S. market appears on track to open Friday’s session higher, with the major futures all trading modestly higher. The Trump tariffs have served to apply the brakes on the market’s upward momentum, even as the broader trend remains to the upside.
President Donald Trump announced on a Truth Social post that he would nominate Stephen Miran, Head of the White House Council of Economic Advisers, to fill the vacant slot at the Federal Reserve Board following Adriana Kugler’s resignation.
The spotlight will also likely be on the earnings reports released after the market closed on Thursday and those released on Friday.
The Nasdaq Composite and the S&P 500 Index are on track to finish the week higher, barring any unforeseen slump, reversing the declines seen in the previous week.
As of 4:14 a.m. ET on Friday, the S&P 500 and Nasdaq 100 futures climbed over 0.20%, the Dow futures rose about 0.12%, and the Russell 2000 futures have gained a steeper 0.41%.
On Thursday, stocks closed mixed as traders assessed the impact of the new tariffs taking effect and the worsening of the standoff between India and the U.S. over the latter’s Russian oil imports.
The Invesco QQQ Trust (QQQ), an exchange-traded fund (ETF) that tracks the Nasdaq 100 Index, ended up 0.24%, while the SPDR S&P 500 ETF (SPY) edged down 0.08%. The SPDR Dow Jones Industrial Average ETF Trust (DIA) and iShares Russell 2000 ETF (IWM) fell 0.51% and 0.33%, respectively.
The economic calendar for the day is relatively light, with St. Louis Fed President James Bullard scheduled to speak at 10 a.m. ET. The key earnings reports for the day are from Wendy’s (WEN), Under Armour (UA), and fuboTV (FUBO).
Crude oil futures extended their slide early Friday, gold futures are on a roll, rising past the $3,500 mark, and the 10-year U.S. Treasury note yield held steady around the 4.25% mark.
In the currency market, the U.S. dollar traded mixed against major currency counterparts. Most major Asian markets ended the day lower, although the Japanese market advanced on reassuring comments from Japanese officials regarding the tariffs imposed by the U.S.
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