- Stock futures show mixed outlook ahead of US inflation data.
- S&P and Nasdaq 100 futures rose; The Dow Jones is slipping a little.
- S&P 500 hits record high; Market sentiment changes with economic indicators.
Friday morning saw stock futures in a mixed position. Investors aim to extend the recent market rally. They also prepared for new inflation statistics. S&P futures rose 0.2%, and Nasdaq 100 futures rose 0.6%. Conversely, Dow Jones futures fell 41 points, registering a 0.1% decline.
Coinbase rose 12% with Q4 earnings increase
It is expected to be a busy day with economic reports. A modest gain of 0.1% is expected. Housing market insights will also be available. These numbers can greatly influence market trends. This data comes amid investors' scrutiny of the health of the US economy. This comes on the heels of unexpected CPI data and a notable decline in retail sales for January. Coinbase stock saw a big jump of more than 12% in early trading on Friday. This increase came as the cryptocurrency trading platform announced fourth-quarter earnings that far exceeded analysts' expectations.
Coinbase reported adjusted earnings of $1.04 per share, with revenue reaching $954 million. This performance is in stark contrast to expectations made by LSEG analysts, who expected a slight loss of 1 cent per share and a revenue forecast of $822 million.
Market optimism as S&P 500 hits new record
Despite some economic concerns, there is optimism. LPL Financial's Adam Turnquist highlights the bright side. Fed policies and market expectations are better aligned. It reduces market volatility. Moreover, positive economic data eased fears of a sharp downturn. It ended Thursday with the S&P 500 at a new peak. The Dow Jones and Nasdaq also saw gains. However, the overall market movement this week is mixed. The S&P was up a little, the Dow was up, but the Nasdaq was down a little.
This snapshot provides a glimpse into the ongoing equilibrium process in the stock market. Investors remain cautious but optimistic as new data emerges, navigating mixed signals to gauge the direction of the economy.
