Stocks may move to the downside in early trading on Friday, giving back ground after moving sharply higher over the two previous sessions. The major index futures are currently pointing to a modestly lower open for the markets, with the S&P 500 futures down by 0.2 percent.
Traders may look to cash in on the strong upward move seen over the past two days, which largely offset the steep drop seen on Tuesday.
The rebound largely reflected a positive reaction to President Donald Trump ruling out the use of military force to acquire Greenland and backing off tariff threats against Europe over his efforts to take control of the Arctic territory.
However, Trump has now apparently shifted his attention back to Iran, telling reporters aboard Air Force One on Thursday that a U.S. “armada” is heading toward the Middle East.
“We’re watching Iran,” Trump said. “You know we have a lot of ships going in that direction just in case. We have a big flotilla going in that direction and we’ll see what happens.”
Trump had previously backed down from threats of military strikes against Iran over its crackdown on widespread protests.
A slump by shares of Intel (INTC) is also likely weigh on Wall Street, with the semiconductor giant plunging by nearly 13 percent in pre-market trading.
Intel is under pressure after the company reported better than expected fourth quarter earnings but provided disappointing guidance for the current quarter.
Stocks moved mostly higher over the course of the trading day on Thursday, adding to the strong gains posted during Wednesday’s session. The major averages further offset the steep losses posted on Tuesday, with the Dow turning positive for the week.
The major averages ended the day well off their highs of the session but still firmly positive. The Dow climbed 306.78 points or 0.6 percent to 49,384.01, the Nasdaq advanced 211.20 points or 0.9 percent to 23,436.02 and the S&P 500 rose 37.73 points or 0.6 percent to 6,913.35.
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Friday. Japan’s Nikkei 225 Index rose by 0.3 percent, while Hong Kong’s hang Seng Index climbed by 0.5 percent.
Meanwhile, the major European markets are turning in a mixed performance on the day. While the French CAC 40 Index is down by 0.3 percent, the German DAX Index is just above the unchanged line and the U.K.’s FTSE 100 Index is up by 0.1 percent.
In commodities trading, crude oil futures are surging $1.17 to $60.53 a barrel after tumbling $1.26 to $59.36 a barrel on Thursday. Meanwhile, after jumping $75.90 to $4,913.40 ounce in the previous session, gold futures are climbing $19.50 to $4,932.90 an ounce.
On the currency front, the U.S. dollar is trading at 158.16 yen versus the 158.40 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.1739 compared to yesterday’s $1.1754.
Business News
U.S. Stocks May Move Back To The Downside In Early Trading
2026-01-23 13:53:02
