US stock futures were mixed on Friday as Wall Street tempered its rate-cut hopes and awaited July’s retail sales report.
Futures attached to the Dow Jones Industrial Average (YM=F) rose around 0.7%. Futures attached to the benchmark S&P 500 (ES=F) were flat and futures attached to the tech-heavy Nasdaq 100 (NQ=F) fell below the flatline.
UnitedHealth (UNH) stock soared on Friday before the bell after a regulatory filing showed Warren Buffett’s Berkshire Hathaway bought 5 million shares in the company.
Intel (INTC) shares jumped premarket Friday on news that the US government is considering taking a stake in the company. President Trump met with Intel’s CEO on Monday after calling on him to resign the previous week.
Stocks wobbled on Thursday, ending a two-day rally sparked by investor confidence that an interest rate cut in September was nearly certain. Doubts about a significant cut at the Fed’s next policy meeting crept in after July’s Producer Price Index (PPI) came in hotter than expected.
Finally, Applied Materials (AMAT) dove after its earnings report included a downbeat forecast that spooked investors.
On Friday, Wall Street will be watching the release of retail sales data. The results will offer clues as to whether Trump’s tariffs are impacting consumer spending habits.
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