Dow Futures Edge Higher As US-China Trade Hopes Offset Apple, Amazon Earnings Impact

U.S. stock futures edged higher in Friday’s pre-market as investors weighed earnings from major tech companies and a potential thaw in trade tensions between Washington and Beijing.

China’s Commerce Ministry said it was “evaluating” the current state of the trade war with the U.S., signaling a possible opening toward renegotiating steep reciprocal tariffs late Thursday. The announcement marks the first formal step in what could become a broader recalibration of trade policy between the world’s two largest economies.

Futures linked to the Dow Jones Industrial Average and the S&P 500 rose 0.5%, while Nasdaq-100 futures gained 0.3%. 

The SPDR S&P 500 ETF Trust (SPY), which tracks the S&P 500, traded 0.5% higher, while the Invesco QQQ Trust, Series 1 (QQQ), which tracks the Nasdaq Composite, was up 0.2%. The SPDR Dow Jones Industrial Average ETF (DIA) was up 0.5%. 

Earnings remained in focus after Apple (AAPL) reported stronger-than-expected profits but flagged weak China sales and projected a $900 million hit tied to President Donald Trump's tariffs. Despite the earnings beat, Apple’s stock slipped more than 3% in pre-market trade. 

Amazon (AMZN) shares also fell in early trade, but the losses were capped at 1.4%, after the company posted strong results but issued softer guidance for its current-quarter operating income.

Block (XYZ) shares plunged nearly 20% in pre-market trading after the Cash App and Square parent company cut its annual guidance and cited a “pronounced shift” in consumer behavior. The company said users were pulling back on discretionary spending such as travel and media.

After quarterly results topped analyst estimates, Shell announced a $3.5 billion share buyback. Its U.S.-listed shares rose 3% in pre-market trade.

Airbnb (ABNB) shares dropped nearly 5% in light trading after the company warned that bookings growth would slow amid rising economic uncertainty in the U.S.

Meanwhile, gold is headed for its first consecutive weekly loss of the year, trading flat at $3,266.2. The commodity touched a record $3,500 last week before declining as upbeat tech earnings drew investors back into equities.

Bitcoin’s (BTC) price climbed 0.7% in the past 24 hours to $96,850, according to CoinGecko. On Thursday, Bitcoin’s price briefly topped $97,000 for the first time since February, lifting shares of crypto-linked firms. Strategy’s stock crossed the $400 mark for the first time this year

Investors are watching for earnings from Exxon Mobil (XOM), Chevron (CVX), DuPont de Nemours (DD), and Apollo Global Management (APO), all of which are set to report before the opening bell.

Labor market data released Thursday showed new jobless claims rose to a two-month high, while continuing claims hit their highest level since November 2021. The data adds weight to expectations for Friday’s jobs report.

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Read also: Trump Trade Talks: China Finally Mulls Opening Door For Negotiations, Japan Races To Close Deal By June

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