U.S. stock futures advanced on Friday following Thursday’s sharp sell-off. Futures of major benchmark indices were higher.
Meanwhile, President Donald Trump announced the launch of a new website aimed at bringing down drug prices. The website will offer consumers access to more affordable prescription medications.
The January jobs report, which was scheduled to be released today, will be delayed to next week on Wednesday, following the partial government shutdown at the beginning of this week.
The 10-year Treasury bond yielded 4.20%, and the two-year bond was at 3.48%. The CME Group’s FedWatch tool‘s projections show markets pricing a 81.3% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.
| Index | Performance (+/-) |
| Dow Jones | 0.23% |
| S&P 500 | 0.40% |
| Nasdaq 100 | 0.52% |
| Russell 2000 | 0.95% |
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 0.37% at $680.10, while the QQQ advanced 0.47% to $599.84.
Stocks In Focus
Amazon.com
- Amazon.com Inc. (NASDAQ:AMZN) dropped 8.39% in premarket on Friday after reporting mixed fourth-quarter financial results on Thursday after market close.
- AMZN maintains a weaker price trend over the short, medium, and long terms, with a solid quality ranking, as per Benzinga’s Edge Stock Rankings.
- Reddit Inc. (NYSE:RDDT) jumped 11.22% after announcing better-than-expected fourth-quarter financial results and issuing a strong sales forecast for the first quarter.
- Benzinga’s Edge Stock Rankings indicate that RDDT maintains a weaker price trend over the short, medium, and long terms, with a poor value ranking.