Futures mixed, Coinbase's earnings beat - what's moving markets
Investing.com -- U.S. stock futures pointed to a mixed opening on Wall Street after equities advanced in the prior session. Coinbase (NASDAQ:COIN) reports better-than-anticipated earnings in the fourth quarter thanks to a jump in activity on the crypto exchange following the approval of exchange-traded funds tracking the spot price of Bitcoin. Meanwhile, Jeff Bezos sells a further $2 billion in Amazon (NASDAQ:AMZN) shares and Nike (NYSE:NKE) reportedly plans to lay off 2% of its workforce.
1. Futures mixed
U.S. stock futures hovered around both sides of the flatline on Friday.
By 04:06 ET (09:06 GMT), the Dow futures contract had slid by 25 points or 0.1%, S&P 500 futures had inched up by 7 points or 0.1%, and Nasdaq 100 futures had gained 97 points or 0.5%.
The main averages on Wall Street rose in the prior session, with investors gauging the outlook for early Federal Reserve interest rate cuts following a mixed batch of economic data. Retail sales in the U.S. declined in January, leading to a drop in Treasury yields that suggested that some traders thought the report was a sign that the Fed may roll out rate cuts sooner than anticipated. The fall in yields was short-lived, however, in the wake of lower-than-expected weekly jobless claims and a surprise contraction in U.S. factory output last month.
At the close of trading on Thursday, the benchmark S&P 500 had jumped by 0.6%, the tech-heavy Nasdaq Composite had gained 0.3%, and the blue-chip Dow Jones Industrial Average had risen by 0.9%.
On Friday, traders will be keeping an eye out for a consumer sentiment survey from the University of Michigan. Richmond Fed President Thomas Barkin, Fed Vice Chair for Supervision Michael Barr, and San Francisco Fed President Mary
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