U.S. stock futures were fluctuating on Friday after a mixed close on Thursday. Futures of major benchmark indices were mixed in premarket.
The week began with the market shrugging off Moody’s downgrade of the U.S. government debt, however, it slipped later in the week as investors started assessing the impact of the new tax bill proposed by the Donald Trump administration, known as the “One, Big, Beautiful Bill.”
While the tax bill is expected to add $3.8 trillion to the U.S. debt as per Congressional Budget Office estimates, it was passed by the U.S. House of Representatives on Thursday by a 215-214 margin.
Meanwhile, the 10-year Treasury bond yielded 4.51% and the two-year bond was at 3.98%. The CME Group’s FedWatch tool’s projections show markets pricing a 94.7% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting.
| Futures | Change (+/-) |
| Dow Jones | -0.07% |
| S&P 500 | -0.03% |
| Nasdaq 100 | -0.04% |
| Russell 2000 | 0.13% |
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, rose in premarket on Friday. The SPY was up 0.16% to $584.05, while the QQQ advanced 0.21% to $515.09, according to Benzinga Pro data.
Cues From Last Session:
Sectoral moves drove a mixed day for U.S. stocks Thursday, as the Nasdaq Composite rose over 50 points while most S&P 500 sectors closed lower.
Utilities, healthcare, and energy stocks saw the biggest losses. Conversely, consumer discretionary and communication services bucked the trend, finishing higher.
Economic data showed U.S. initial jobless claims falling to 227,000, beating estimates, and both S&P Global services and manufacturing PMIs climbing to 52.3 in May.
Meanwhile, Advance Auto Parts Inc. (NYSE:AAP) shares surged 57% after strong Q1 results, and Vigil Neuroscience Inc. (NASDAQ:VIGL) skyrocketed 241% on news of a Sanofi acquisition.
| Index | Performance (+/-) | Value |
| Nasdaq Composite | 0.28% | 18,925.73 |
| S&P 500 | -0.044% | 5,842.01 |
| Dow Jones | -0.0032% | 41,859.09 |
| Russell 2000 | -0.049% | 2,045.56 |
Insights From Analysts:
Jurrien Timmer, the director of global macro at Fidelity Investments, highlighted in …