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Futures: Dow down 0.06%, S&P 500 up 0.05%, Nasdaq up 0.11%
Feb 14 (Reuters) - U.S. stock index futures paused on
Friday, as investors awaited more clarity on U.S. President
Donald Trump's reciprocal tariff plans following robust gains in
the last sessions, with all three benchmark stock indexes set
for strong weekly gains.
Trump tasked his economics team on Thursday with devising
plans for reciprocal tariffs on every country taxing U.S.
imports, though the directive stopped short of imposing fresh
tariffs.
"The reaction to the reciprocal tariffs overnight was muted
and suggests that investors have moved on, at least temporarily,
from trade until the next set of data surprises on inflation or
economic confidence," analysts at Societe Generale said in a
note.
Howard Lutnick, Trump's pick for commerce secretary, said
the administration would address each affected country one by
one and said studies on the issue would be completed by April 1.
Wall Street's main indexes ended higher in the last session,
as gains in Nvidia ( NVDA ), Apple ( AAPL ) and Tesla
boosted the S&P 500 more than 1% higher.
Stocks also got a boost after data showed U.S. producer
prices increased in January, while key elements in the core
Personal Consumption Expenditures (PCE) index, a measure closely
tracked by the U.S. Federal Reserve, were benign or lower.
Traders are fully pricing in at least one 25-basis-point
interest rate cut by the end of the year, with an over 33%
chance of an additional such reduction, as per data complied by
LSEG.
At 4:38 a.m. ET, Dow E-minis were down 28 points,
or 0.06%, S&P 500 E-minis were up 3.25 points, or 0.05%,
and Nasdaq 100 E-minis were up 24.5 points, or 0.11%.
On Friday, the January retail sales figure - a crucial
metric in gauging the state of the consumer - will be released
at 8:30 a.m. ET.
Comments from Dallas Fed President Lorie Logan would also be
awaited later in the day.
All three major indexes are set for robust weekly gains,
with the S&P 500 currently sitting about 0.2% away from its
all-time highest level hit three weeks ago.
Vaccine maker Moderna ( MRNA ) is one of the prominent
companies reporting earnings before the bell on Friday.
Fourth-quarter earnings are estimated to grow 15.2%,
compared to 11.6% growth projected at the start of the month,
according to data compiled by LSEG.
Tesla led gains amongst megacap and growth stocks in
premarket trading, adding 2% after hitting an 11-week low
earlier this week.
Airbnb ( ABNB ) jumped 14% after the vacation home rentals
company posted higher quarterly revenue.
DaVita ( DVA ) dropped 10.1% after the dialysis firm
projected annual profit below estimates. Warren Buffett's
Berkshire Hathaway ( BRK/A ) also sold some of its shares in the
company.
Applied Materials ( AMAT ) shed 4.8% as the chipmaking
equipment maker forecast second-quarter revenue below estimates.