| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
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| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
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| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
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Editor’s Note: The future prices of benchmark tracking ETFs were updated in the story.
U.S. stock futures rose on Friday after closing lower on Thursday’s. Futures of major benchmark indices were higher.
Despite the market decline on Thursday, corporate earnings provided bright spots. Delta Air Lines Inc. (NYSE:DAL) jumped 4.3% after beating estimates, and PepsiCo Inc. (NASDAQ:PEP) gained 4.2% after posting an adjusted EPS of $2.29, slightly above expectations but down 2% from a year earlier.
Meanwhile, President Donald Trump hinted that he was gearing up to discuss soybeans and other trade issues with Chinese President Xi Jinping ahead of a potential in-person meeting later this month.
The 10-year Treasury bond yielded 4.11% and the two-year bond was at 3.58%. The CME Group's FedWatch tool‘s projections show markets pricing a 94.6% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
| Futures | Change (+/-) |
| Dow Jones | 0.10% |
| S&P 500 | 0.10% |
| Nasdaq 100 | 0.11% |
| Russell 2000 | 0.37% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and the Nasdaq 100 index, respectively, rose in premarket on Friday. The SPY was up 0.17% at $672.33, while the QQQ advanced 0.19% to 611.85, according to Benzinga Pro data.
Industrials, materials, and energy stocks recorded Thursday’s biggest losses as most sectors on the S&P 500 closed negatively. Consumer staples stocks, however, bucked the overall market trend and finished the session higher.
This was part of a broader downturn in which U.S. stocks settled lower, with the Dow Jones index falling more than 240 points and the S&P 500 and Nasdaq Composite retreating from record highs.
| Index | Performance (+/-) | Value |
| Nasdaq Composite | -0.081% | 23,024.62 |
| S&P 500 | -0.28% | 6,735.11 |
| Dow Jones | -0.52% | 46,358.42 |
| Russell 2000 | -0.61% | 2,468.85 |
According to Scott Wren, Senior Global Market Strategist at Wells Fargo Investment Institute, viewing the current S&P 500 through the lens of historical price-to-earnings (P/E) ratios is not an “apples to apples comparison”. While acknowledging that stocks aren’t cheap, Wren argues that the makeup of the index has fundamentally changed.
“Today’s S&P 500 Index is built around high-quality, high-growth companies that have been producing strong revenue and earnings streams,” Wren states. Over 40% of the index’s value now consists of high-growth technology and tech-like companies, a significant shift from the slower-growth industrial companies that once dominated. These modern companies naturally command higher P/E ratios.
Wren cautions that “using the P/E ratio is not a reliable gauge to time when to buy or sell,” noting that expensive markets can continue to rise. Instead of fixating on the headline P/E number, he advises investors to look for value in different ways. This includes exploring the S&P 500 equal-weighted index, which has a more reasonable P/E of 18.9x, and finding less costly avenues to invest in major trends like artificial intelligence.
See Also: How to Trade Futures
Here's what investors will be keeping an eye on Friday;
Crude oil futures were trading lower in the early New York session by 0.50% to hover around $61.20 per barrel.
Gold Spot US Dollar rose 0.43% to hover around $3,993.32 per ounce. Its last record high stood at $4,059.34 per ounce. The U.S. Dollar Index spot was 0.28% lower at the 99.2610 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.04% lower at $121,563.08 per coin.
Asian markets closed lower on Friday, except South Korea's Kospi and India’s NIFTY 50 indices. Hong Kong's Hang Seng, China’s CSI 300, Australia's ASX 200, d Japan's Nikkei 225 fell. European markets were mixed in early trade.
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