Also in focus is the Supreme Court's potential tariff ruling
Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) futures are indicating a higher open, despite weak jobs data. Nonfarm payrolls rose 50,000 in December, lower than both November's reading and analyst estimates. The unemployment rate came in slightly below estimates as well, at 4.4%. Investors are hopeful the data will encourage the Federal Reserve to lower interest rates.
Also in focus today is a potential Supreme Court decision on the legality of President Donald Trump’s tariffs. Should these early morning gains hold, all three major indexes will be on track for healthy weekly wins.
- This energy drink stock is ready to surge.
- Analyst praises Generac stock's valuation.
- Plus, Vistra's deal with Meta Platforms; why GM is lower; and a potential merger for Rio Tinto.
5 Things You Need to Know Today
- The Cboe Options Exchange saw over 2.1 million call contracts and more than 1 million put contracts traded on Thursday. The single-session equity put/call ratio dropped to 0.49, while the 21-day moving average remained at 0.58.
- Vistra Corp (NYSE:VST) stock is up 17.2% premarket, after the energy company revealed a 20-year deal with Meta Platforms (META) to provide power for its hyperscaler’s data center campus in Ohio. VST is today looking to chip away at its 28.3% three-month deficit.
- General Motors Co (NYSE:GM) stock is down 2.5% before the bell, after the automaker noted it will incur $6 billion in charges in the fourth quarter tied to EV assets and programs as demand slows in North America. GM still sports a 66.9% year-over-year lead.
- The shares of Rio Tinto plc ADR (NYSE:RIO) are 2.7% lower in electronic trading, following news that the mining giant is discussing a possible merger with Glencore. RIO has added 53.4% over the last nine months.
- Big bank earnings and inflation data coming next week.
Asian, European Stocks Edge Higher
Asian stocks were higher today, though investors continue to keep an eye on ongoing geopolitical tensions in the U.S. The Shanghai Composite added 0.9%, even after China’s December consumer price index (CPI) rose higher than expected. In Japan, aerospace stocks rallied across the board while the Nikkei added 1.1%. Elsewhere, South Korea’s Kospi climbed 0.8% and Hong Kong’s Hang Seng gained 0.3%.
European markets are also trading higher Friday, with London’s FTSE 100 up 0.6%, Germany’s DAX adding 0.3%, and France’s CAC 40 gaining 0.9%, at last check. Investors are ready for the key U.S. jobs report, plus a Supreme Court ruling on Trump-era tariffs. Defense stocks remained in focus amid continued rhetoric on higher U.S. military spending and Greenland.