Overview
- Nasdaq 100 and S&P 500 futures rose about 0.4% and 0.2% in early trading, with Dow futures near flat after indexes snapped four-day slides on Thursday.
- Nike fell roughly 10% premarket after reporting a second straight quarterly drop in gross margins and a sixth consecutive decline in China sales, including a 17% revenue drop in Greater China.
- Micron’s upbeat outlook, including a claim that demand will exceed supply for the foreseeable future, helped revive confidence in AI-linked and semiconductor shares.
- November CPI increased 2.7% year over year, below forecasts, though the delayed data collection after the government shutdown led some economists to expect a December inflation pickup.
- Despite the Fed’s 25-basis-point cut last week and cautious guidance, LSEG data show traders pricing at least two cuts next year, as a record $7.1 trillion options expiration raises the prospect of sharper swings.