- US equity futures rose at the end of a tumultuous week after Amazon and Intel reported robust earnings. Crude oil rose as the US conducted strikes on Iran-linked facilities in Syria.
- Nasdaq futures added almost 1% after a selloff that drove the index to its lowest since May. The retreat also put the S&P 500 on the brink of a correction, with the gauge down nearly 10% from its July peak. Intel rose more than 7% in premarket trading Friday, while Amazon was up by 6%. Chevron declined after reporting a profit lower than analysts’ estimates.
- The earnings season has been a mixed bag so far, with investors punishing misses more severely than they are rewarding beats. according to JPMorgan strategists, in the US, 78% of companies reporting so far beat estimates, compared with 57% in Europe. But more firms than usual are flagging lower consumer demand and a declining economic environment, they said, even as data Thursday suggested price pressures continue to dissipate in the US despite solid economic growth.
- ECB's Muller: The Euro Area is likely to recover gradually in 2024
- ECB Survey sees inflation at 2.7% in 2024, unchanged from the last survey; 2025 seen at 2.1% vs 2.2% previously - SPF
