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US STOCK INDEX FUTURES TRADE MIXED, NASDAQ LOOKS TO REBOUND

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  • US stock index futures trade mixed on the last trading day of the week.
  • Nasdaq looks to rebound following Thursday's lackluster performance.
  • Energy Sector was the best-performing major S&P 500 sector on Thursday.

S&P 500 futures rise 0.13%, Dow Jones futures drop 0.11%, and Nasdaq futures gain 0.51%.

S&P 500 (SPX), Dow Jones (DJIA), and Nasdaq (IXIC) indexes closed on Thursday with a 0.58% gain, a 0.91% increase, and a 0.30% rise, respectively.

What to know before stock market opens

  • The Energy Sector gained nearly 2.5% as the strongest sector of the S&P 500 on Thursday, followed closely by the Real Estate Sector, which added 2.36% for the day.
  • The Technology Sector ended Thursday as the worst-performing sector of the S&P 500, shedding 0.44%.
  • Zebra Technologies Corp. (ZBRA) gained 12.17% on the day, ending at $283.75. West Pharmaceutical Services Inc. (WST) took the top spot on the biggest decliners board, with shares losing over 14% to close at $350.70.
  • The CBOE Volatility Index (VIX), Wall Street's fear gauge, fell 2.5% on Thursday.
  • On Friday, the Bureau of Labor Statistics (BLS) will release Producer Price Index (PPI) figures for January. The PPI is forecast to rise 0.1% on a monthly basis following the 0.2% decline seen in December.
  • Retail Sales in the US declined by 0.8% to $700.3 billion in January, the US Census Bureau reported on Thursday. This reading came in weaker than the market expectation for a decrease of 0.1%. Retail Sales ex Autos contracted by 0.6% in the same period.
  • There were 212,000 first-time applications for unemployment benefits in the week ending February 10, down from 220,000 in the previous week, the US Department of Labor announced. 
  • Inflation in the US, as measured by the change in the Consumer Price Index (CPI), softened to 3.1% on a yearly basis in January from 3.4% in December, the BLS reported on Tuesday. This reading came in above the market expectation of 2.9%.
  • The Core CPI, which excludes volatile food and energy prices, rose 3.9% in the same period and matched December's increase, surpassing analysts' estimate of 3.7%.
  • Coinbase Global Inc. (COIN) reported after the closing bell on Thursday earnings of $1.04/share in the fourth quarter, compared to a loss of $2.46/share a year earlier. The company noted sturdy trading volumes due to a resurgence of interest in crypto was the primary reason for the first quarterly profit it recorded since 2021.
  • On Tuesday, Coca-Cola Co. (KO) reported that revenue rose 7.4% to $10.95 billion from a year ago for the quarter ended in December, per Reuters. The company announced that the quarterly net income was $1.97 billion for that period and cited higher product prices and robust demand for the upbeat results.
  • Airbnb Inc. (ABNB) said after the closing bell on Tuesday that quarterly adjusted earnings were 76 cents per share in the quarter ended in December. The company’s revenue increased 16.6% to $2.22 billion from a year ago, but there was a quarterly loss of $349 million.
  • Cisco Systems Inc. (CSCO) announced quarterly adjusted earnings per share were 87 cents in the quarter ended in January. The networking equipment manufacturer said the revenue fell 5.9% to $12.79 billion from a year ago, while the quarterly net income was $2.63 billion in the same period. In a conference call, CEO Charles Robbins said, "we also continue to see weak demand with our telco and cable service provider customers," per Reuters. The company is reportedly planning to cut more than 4,000 jobs and focus on high-growth areas such as artificial intelligence and software

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