Stocks look set for a higher open Friday following weaker-than-expected retail sales.
futures have gained 100 points, or 0.3%, while
futures have risen 0.5%, and
futures have advanced 0.8%.
Inflation was the big concern earlier this week, but those worries look to have faded on Friday. The retail sales miss—they were unchanged in April from March, missing forecasts for a 0.8% increase—helped, as did the decline of the 10-year Treasury yield, which has dipped to 1.64% from 1.66% Thursday. The price of copper, an industrial metal that sees higher demand when economic demand at large strengthens, is down 1%.
“Futures are moderately higher on momentum from Thursday’s rebound combined with a drop in industrial metals’ prices, which is helping to ease some anxiety on inflation,” writes Tom Essaye, founder of Sevens Report Research.
Here are five stocks making moves in Friday’s premarket action:
(DIS) stock fell 4% despite reporting a profit of 79 cents a share, beating forecasts for 27 cents a share, on sales of $15.61 billion, below expectations for $15.8 billion. Disney+ disappointed.
(ABNB) stock fell 1% after reporting a loss of $1.95 a share, missing forecasts for $1.05, on sales of $887 million, above expectations for $717 million.
(DASH) stock rose 8% after reporting a loss of 34 cents a share, missing forecasts for a 26 cent loss a share, on sales of $1 billion, above expectations for $993 million.
(SNOW) stock gained 5.6% after getting upgraded to Buy from Neutral at Goldman Sachs.
(SAVE) stock gained 2% after getting upgraded to Peer Perform from Underperform at Wolfe Research.
Write to Jacob Sonenshine at jacob.sonenshine@barrons.com
