U.S. stock futures were flat on Friday after ending higher on Thursday. Futures of major benchmark indices fell in premarket.
A federal appeals court on Thursday temporarily reinstated most of the tariffs imposed by President Donald Trump.
This decision by the U.S. Court of Appeals for the Federal Circuit pauses a lower court’s ruling that had invalidated a significant portion of these tariffs.
The stay will remain in effect, allowing the Trump administration to pursue its appeal of the trade court’s decision.
Meanwhile, the 10-year Treasury bond yielded 4.42% and the two-year bond was at 3.94%. The CME Group’s FedWatch tool‘s projections show markets pricing a 97.9% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting.
| Futures | Change (+/-) |
| Dow Jones | -0.04% |
| S&P 500 | -0.10% |
| Nasdaq 100 | -0.09% |
| Russell 2000 | -0.33% |
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 below the flatline in premarket on Friday. The SPY was down 0.088% at $589.53, while the QQQ declined 0.046% to $519.69, according to Benzinga Pro data.
Cues From Last Session:
Across the S&P 500, most sectors closed positively, with utilities, real estate, and health care stocks recording the most significant gains on Thursday. Conversely, communication services stocks went against the broader market trend, ending the session lower.
Nvidia Corp.‘s (NASDAQ:NVDA) better-than-expected earnings pushed the technology stocks higher. Meanwhile, Best Buy Co. Inc. (NYSE:BBY) shares fell around 7% after the electronics retailer posted downbeat first-quarter results.
Similarly, Caleres Inc. (NYSE:CAL), a footwear company, saw its shares dip 18% after reporting first-quarter financial results that missed adjusted EPS and sales estimates, leading the company to suspend its guidance.
On the economic front, U.S. initial jobless claims rose by 14,000 to 240,000 in the week ending May 24th, exceeding market estimates of 230,000.
Despite this, the U.S. economy showed a slight improvement in its first-quarter contraction, shrinking at an annualized rate of 0.2% compared to the initial estimate of a 0.3% decline.
| Index | Performance (+/-) | Value |
| Nasdaq Composite | 0.39% | 19,175.87 |
| S&P 500 | 0.40% | 5,912.17 |
| Dow Jones | 0.28% | 42,215.73 |
| Russell … |