Market Overview
US stock futures dropped on Friday, heading for another weekly loss. Oil prices rose sharply, raising fears that the Middle East conflict could push inflation higher. Investors were also waiting on the latest US jobs report.
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Indexes & Sectors
Major Indexes: S&P 500 lower, Nasdaq lower, Dow lower, Russell 2000 lower
Leading Sectors: Energy
Lagging Sectors: Consumer Discretionary, Technology, Communication Services, Industrial, Materials, Utilities, Financial
Economic Calendar
Time (ET) | Report | Actual | Forecast | Previous |
|---|---|---|---|---|
8:30am | U.S. employment report (Feb.) | 50,000 | 130,000 | |
8:30am | U.S. unemployment rate (Feb.) | 4.3% | 4.4% | |
8:30am | U.S. hourly wages (Feb.) | 0.3% | 0.4% | |
8:30am | Hourly wages year over year | 3.7% | 3.7% | |
8:30am | U.S. retail sales (delayed report) (Jan.) | -0.4% | 0.0% | |
8:30am | Retail sales minus autos (Jan.) | 0.0% | 0.0% | |
10:00am | Business inventories (Dec.) | 0.1% | 0.1% | |
10:15am | San Francisco Fed President Mary Daly speaks | |||
1:30pm | Cleveland Fed President Beth Hammack speaks | |||
3:00pm | Consumer credit (Jan.) | $11.0 billion | $24.0 billion |
Stocks In The News
Gap (GAP): Gap shares slipped in premarket trading after the apparel maker reported quarterly earnings of 45 cents per share, just missing analyst expectations of 46 cents. Revenue came in at $4.24 billion, in line with forecasts.
Marvell Technology (MRVL): Marvell shares surged in premarket after the semiconductor company beat quarterly earnings and revenue estimates, driven by strong artificial intelligence demand. Management also said it expects revenue growth to accelerate each quarter throughout fiscal 2027.
Exxon Mobil (XOM), Chevron (CVX), Occidental Petroleum (OXY): Oil stocks rose in premarket alongside crude prices, which climbed to their highest levels since 2024, as tensions escalated around a potential U.S.-Iran conflict.
Samsara (IOT): Samsara shares jumped in premarket after the telematics software company issued full-year earnings and revenue guidance well above analyst expectations. The company also announced it is now using AI to automate workflows and improve operations.
GoPro (GPRO): GoPro shares fell sharply in premarket after the camera maker posted a quarterly loss and missed both earnings estimates and its own revenue guidance. The company issued 2026 revenue guidance centered on the launch of its new GP3 camera lineup.
CoreWeave (CRWV): CoreWeave shares edged lower in premarket despite investment bank Oppenheimer initiating coverage with an "outperform" rating and a price target implying significant upside. Oppenheimer cited CoreWeave's strong position in AI-optimized cloud infrastructure as a key reason for its bullish view.
Guidewire Software (GWRE): Guidewire shares gained in premarket after the insurance software company posted quarterly earnings and revenue that comfortably beat analyst estimates, with earnings of $1.17 per share on revenue of $359 million against expectations of 77 cents and $342 million respectively.
Cooper Companies (COO): Cooper Companies shares dipped in extended trading after the medical device company reported quarterly revenue that met but did not beat analyst expectations. On a more positive note, the company raised its full-year earnings guidance above consensus estimates, and first-quarter profit also came in ahead of expectations.
Costco (COST): Costco shares were slightly lower in premarket despite the warehouse retailer reporting strong second-quarter results, with revenue and earnings both beating estimates, comparable sales up solidly, and online sales growing strongly year over year.
Momentum Stocks
(Stocks showing elevated volume and notable price movement)
Gainers: -
Losers: -
Today’s IPOs
Company | Ticker | Managers | Shares | Low | High | Volume |
|---|---|---|---|---|---|---|
MiniMed Group, Inc. | MMED | Goldman Sachs/BofA Securities/Citigroup/Morgan Stanley/Barclays/Deutsche Bank Securities/Mizuho/Wells Fargo Securities/ | 28.0 million | 20.00 | 20.00 | $560.0 million |
Disclaimer: This newsletter is for informational purposes only and does not constitute investment advice. Readers should conduct their own research and consider consulting a financial professional before making investment decisions.