Advertisment
U.S. stock index futures gave back much of their gains Friday morning after initially rallying when two influential Fed officials hinted at more aggressive policy easing.
Futures for the Dow Jones Industrials gained 87 points, or 0.3%, to 27,288.
Futures for the S&P 500 took on six points, or 0.2%, at 3,003.50
NASDAQ futures acquired 21.5 points, or 0.3%, to 7,955
A spokesperson for the New York Fed moved to cool the speculation arising from Williams’ comments, telling reporters that he was drawing from academic research, not hinting at potential policy actions at the upcoming Federal Open Market Committee (FOMC) meeting.
Investors on Thursday digested a mixed flurry of corporate earnings, as Netflix shares plummeted more than 10% after the streaming giant reported a surprise loss in U.S. subscribers, while Microsoft shares hit record highs after it beat analysts’ estimates for fourth-quarter revenue and profit.
IBM reported its fourth consecutive revenue decline, while Morgan Stanley beat expectations.
American Express and BlackRock are among those reporting before the bell on Friday.
Investors will also be monitoring another escalation of tensions in the Middle East, after President Trump said a U.S. Navy ship destroyed an Iranian drone in a “defensive action” in the Strait of Hormuz.
Overseas, in Japan, the Nikkei 225 index popped 2%, while in the Hong Kong, the Hang Seng index increased 1.1%,
Oil prices obtained 74 cents to $56.04 U.S. a barrel.
Gold prices shot higher $10.10 to $1,438.20 U.S. an ounce.
