Wall St Futures Bounce as Oil Cools Before CPI — SkimNews
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- U.S. stock futures rose Friday premarket with Dow E-minis up 286 points (0.55%), S&P 500 E-minis up 40.5 points (0.53%), and Nasdaq 100 E-minis up 175.25 points (0.6%) as oil cooled and investors awaited the Consumer Price Index report.
- Oracle jumped nearly 7% premarket after topping quarterly estimates late Thursday, reassuring shareholders that its AI investments were generating returns; Nvidia rose 0.8% alongside the rally.
- The U.S. national average diesel price crossed $6 a gallon for the first time ever on Thursday per GasBuddy, while Brent crude slipped 3% Friday but stayed above $103 a barrel and West Texas Intermediate sat near $100.
- The S&P 500 was on track for its biggest weekly loss since June while the Dow headed for its steepest decline since March, with the 10-year Treasury yield at 4.9424% — its highest since 2023 — adding pressure on equities.
- Adobe slid more than 4% premarket after its fourth-quarter revenue forecast midpoint fell short of expectations, even as Copart agreed to acquire ACV Auctions in a nearly $1.9 billion deal that sent ACV shares surging 44%.
- Said Haidar, founder of Haidar Capital Management, warned the Federal Reserve "needs to respond to these [pressures] in the near term or risk a repeat of the high inflation of the 1970s," with Thursday's PPI having come in slightly hotter than expected.
Why it matters: Friday's CPI print will determine whether the Fed faces pressure to hike rates, with record diesel prices above $6/gallon and 10-year yields at 4.9424% already signaling sticky inflation risk that one prominent hedge-fund founder explicitly compared to the 1970s — a scenario that would deepen the S&P 500's worst week since June and force a reckoning with the 'intensifying Middle East conflict' headwinds the article flags.
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