Dow Futures Rise As Wall Street Looks At End Of A Rollercoaster Week: INTU, WBD, GAP, MSTR Among Stocks To Watch

• Schwab’s Nathan Peterson explained Thursday’s flip in U.S. equities, saying that the concerns are about overinvestment in AI infrastructure and debt issuance.
• Asian markets ended Friday’s trading session on a negative note, with the KOSPI declining the most at 3.93%.

U.S. stocks appear set for a positive opening on Friday, with investors taking a breather as a rollercoaster week draws to a close.

“Heading into Nvidia's earnings report, demand for Nvidia chips was not the problem,” said Nathan Peterson, director of derivatives research and strategy, Schwab Center for Financial Research. “It was and is about over investment in AI infrastructure and debt issuance.”

On Thursday, U.S. equities opened in the green following Nvidia Corp.’s (NVDA) blowout third-quarter (Q3) earnings. However, as the day progressed, optimism surrounding tech stocks fizzled, overshadowed by concerns about the Federal Reserve’s monetary policy in December.

Futures Rise

While Dow Jones futures were up by 0.44% at the time of writing, the S&P 500 futures rose 0.17%, while the tech-heavy Nasdaq 100’s futures gained 0.02%. Futures of the Russell 2000 index were up by 0.25%.

Meanwhile, the SPDR S&P 500 ETF (SPY) was up by 0.06% at the time of writing, Invesco QQQ Trust (QQQ) declined 0.13% on Friday morning, and SPDR Dow Jones Industrial Average ETF Trust (DIA) rose 0.34%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bearish’ territory.

Asian Markets Decline

Asian markets ended Friday’s trading session on a negative note, with the KOSPI declining the most at 3.93%, followed by the TWSE Capitalization Weighted Stock index at 3.75%, and the Hang Seng index at 2.57%.

The Shanghai Composite declined 2.51%, while the Nikkei 225 index fell 2.34%.

Stocks To Watch

• Intuit Inc. (INTU): Intuit shares rose nearly 3% pre-market after the company’s first-quarter (Q1) earnings topped Wall Street expectations. Intuit reported earnings per share (EPS) of $3.34 on revenue of $3.88 billion, compared to analyst estimates of an EPS of $3.09 on revenue of $3.76 billion, according to Stocktwits data.
• Warner Bros. Discovery Inc. (WBD): The entertainment giant has received bids from Paramount Skydance Corp. (PSKY), Comcast Corp. (CMCSA), and Netflix Inc. (NFLX), according to a report by The Wall Street Journal. Warner Bros. Discovery shares were up nearly 1% pre-market.
• Gap Inc. (GAP): Gap shares were up more than 4% pre-market after the company’s Q3 earnings surpassed Wall Street expectations. Gap reported earnings per share (EPS) of $0.62 on revenue of $3.94 billion, compared to analyst estimates of an EPS of $0.59 on revenue of $3.9 billion, according to Stocktwits data.
• Strategy Inc. (MSTR), Coinbase Global Inc. (COIN), Robinhood Markets Inc. (HOOD): Strategy shares fell around 4% pre-market, while Coinbase and Robinhood shares declined around 3% each amid a slump in Bitcoin prices. Bitcoin was hovering around $82,500, down around 9% over the past 24 hours.
• American Resources Corp. (AREC), Qudian Inc. (QD), and Frontline Plc. (FRO) are among the companies scheduled to report their latest quarterly earnings on Friday.

Also See: Existing Home Sales Rise In October As Buyers Take Advantage Of Lower Mortgage Rates

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