Investors await the September reading of the Federal Reserve's preferred inflation gauge, the PCE price index, a marquee event delayed by the recent government shutdown.
Meanwhile, according to Challenger, Gray & Christmas, U.S. job cuts fell 53% month-over-month in November, but the total of 71,321 remained 24% higher than a year ago, reflecting a cautious labor market grappling with soft demand, tariff pressures, and rising costs.
The 10-year Treasury bond yielded 4.11% and the two-year bond was at 3.53%. The CME Group's FedWatch tool‘s projections show markets pricing an 87% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.
Futures
Change (+/-)
Dow Jones
-0.03%
S&P 500
0.18%
Nasdaq 100
0.38%
Russell 2000
-0.04%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Friday. The SPY was up 0.20% at $685.79, while the QQQ advanced 0.39% to $625.37, according to Benzinga Pro data.
Stocks In Focus
Netflix
Netflix Inc. (NASDAQ:NFLX) fell 0.52% in premarket on Friday despite outbidding rivals in the Warner Bros Discovery Inc. (NASDAQ:WBD) auction and entering elusive negotiations.
Benzinga’s Edge Stock Rankings indicate that NFLX maintains a weaker price trend over the short, medium, and long terms, with a solid quality ranking. Additional performance details are available here.
Hewlett-Packard Enterprise
Hewlett Packard Enterprise Co. (NYSE:HPE) tumbled 9.17% after reporting mixed fourth-quarter financial results and issuing weak first-quarter sales guidance. The company’s revenue rose 14% year-over-year to $9.68 ...
