Here's something investors love to see: U.S. stock futures rising after an already solid trading session. Friday morning brought exactly that scenario, with futures across major benchmark indices pushing higher following Thursday's gains.

The catalyst? Thursday's November inflation report showed annual CPI inflation cooling to 2.7% from September's 3% reading. Now, there's an asterisk here worth noting. The Bureau of Labor Statistics didn't have October survey-based prices available, so they essentially carried forward September levels, which means they assumed zero inflation for that missing month. Not exactly a perfect data set, but markets took the news as encouraging nonetheless.

Adding to Thursday's momentum, President Donald Trump signed an executive order directing federal agencies to loosen marijuana regulations. The move represents one of the most significant shifts in federal cannabis policy in decades.

On the bond front, the 10-year Treasury yield stood at 4.14%, while the two-year bond yielded 3.47%. According to the CME Group's FedWatch tool, markets are pricing in a 73.4% likelihood that the Federal Reserve will keep interest rates unchanged at its next meeting.

The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust ETF (QQQ), which track the S&P 500 and Nasdaq 100 indices respectively, both traded higher in premarket action Friday. SPY was up 0.012% at $676.55, while QQQ advanced 0.48% to $612.03.

Companies Making Moves

Oracle Jumps on TikTok Partnership

Oracle Corp. (ORCL) shares jumped 5.65% in premarket trading after TikTok's parent company ByteDance signed binding agreements to shift control of TikTok's U.S. operations into a new joint venture. The deal positions Oracle as a key investor and security partner in the restructured arrangement.

Despite Friday's surge, ORCL has maintained a weaker price trend over the short, medium, and long terms, with a moderate growth ranking according to market data.

Coty Gets Cash from Wella Sale

Coty Inc. (COTY) shares rose 1.54% as the beauty company prepares to receive $750 million in cash consideration from selling its Wella business to KKR & Co. Inc. (KKR). That's a meaningful chunk of change for a company that's been working to streamline its portfolio.

The stock maintains a weaker price trend over the short, medium, and long terms, with a poor growth ranking based on current market analysis.

BlackBerry Beats Estimates But Slides Anyway

BlackBerry Ltd. (BB) declined 5.75% despite actually delivering better-than-expected results. The company reported third-quarter revenue of $141.8 million, topping analyst estimates of $137.4 million. Adjusted earnings came in at 5 cents per share, beating the 4-cent consensus estimate.

Sometimes beating expectations isn't enough, and this appears to be one of those cases. Market data indicates BB maintains a weaker price trend over the short, medium, and long terms, with a poor value ranking.

Nike Warns on Tariff Impact

Nike Inc. (NKE) tumbled 10.06% despite posting better-than-expected second quarter results. The problem? Management told investors during the earnings call to expect narrower margins and lower China revenue due to tariff impacts in the third quarter. When guidance disappoints, even solid current results won't save you.

NKE maintains a weaker price trend over the medium and long terms, with a poor quality ranking according to current performance metrics.

FedEx Raises Guidance But Dips

FedEx Corp. (FDX) fell 1.04% despite posting upbeat financial results for the second quarter of fiscal 2026 and raising its full-year guidance. The logistics giant appears to be another victim of the "good news isn't good enough" phenomenon.

Unlike some of the other stocks on this list, FDX maintains a stronger price trend over the short, long, and medium terms, with a strong value ranking. Sometimes the market just needs time to digest positive news.

Thursday's Market Action

Thursday's trading session saw information technology, communication services, and consumer discretionary stocks recording the biggest gains. Consumer staples and energy names bucked the trend, closing lower for the day.

What Analysts Are Saying

Scott Wren, Senior Global Market Strategist at Wells Fargo Investment Institute, is projecting a positive trajectory for the U.S. stock market and economy heading into 2026. He expects stocks to "turn in another year of good performance," driven by an "improving economy with moderating inflation."

One key indicator fueling his optimism is the widening spread between 10-year and 2-year Treasury yields. Wren notes this gap represents the largest spread since January 2022 and historically tends to "accompany broadly stronger equity performance." That's the kind of signal that gets investors' attention, because yield curve dynamics have historically been reliable indicators of economic conditions.

Wren also anticipates an "economic reacceleration" in early 2026, supported by his view that the Federal Reserve will "likely cut rates again next year." Rate cuts tend to be good news for stocks, providing cheaper capital for companies and making equities more attractive relative to bonds.

But Wren isn't painting an entirely rosy picture. He advises caution regarding potential turbulence ahead, stating that the "broadening 2026 equity-market advance" is "unlikely to be in a straight line." Translation: expect some bumps along the way. Investors should remain aware that lingering uncertainties regarding tariffs and new technology adoption "could produce volatility in equity prices."

What's on the Economic Calendar

Friday brings several data points for investors to monitor. New York Fed President John Williams is scheduled to speak at 8:30 a.m. ET. By 10:00 a.m. ET, we'll get November's existing home sales data and December's consumer sentiment reading. Both reports could move markets if they surprise significantly in either direction.

Commodities, Currencies, and Crypto

Crude oil futures were trading lower in early New York trading, down 0.30% to hover around $55.83 per barrel. Energy has been one of the more volatile sectors lately as markets try to gauge global demand trends.

Gold Spot fell 0.07% to trade around $4,329.37 per ounce. The precious metal's last record high stood at $4,381.6 per ounce, so we're not far from those levels. The U.S. Dollar Index spot was 0.25% higher at the 98.6730 level, which typically creates a headwind for dollar-denominated commodities like gold.

Meanwhile, Bitcoin (BTC) was trading 0.92% higher at $88,052.39 per coin, continuing its recent pattern of modest gains.

Global Markets

Asian markets closed higher across the board on Friday. India's NIFTY 50, Australia's ASX 200, Hong Kong's Hang Seng, China's CSI 300, South Korea's Kospi, and Japan's Nikkei 225 indices all rose. European markets were also trading higher in early session action, suggesting global investors are feeling relatively optimistic about near-term prospects.