U.S. stock futures are sending mixed signals this Friday. The Dow Jones is pointing higher, while the Nasdaq 100 and S&P 500 are slipping, following Thursday's broad rally. It's one of those mornings where the market can't quite decide which way to go.
Geopolitics are back in the spotlight. According to reports, the U.S. is planning to engage in "technical talks" with Iran, signaling a continued diplomatic push despite rising tensions. This comes on the heels of a Wall Street Journal report that Iran has developed a new plan to assassinate President Donald Trump — a serious escalation that's keeping investors on edge.
But the main event today is in the AI world. SK Hynix Inc. (SKHY) is making its highly anticipated debut on the Nasdaq. This IPO is a big deal because it's a bellwether for the semiconductor space, which has been under pressure lately. Investors are watching closely to see if the AI boom still has legs after a recent sell-off in chip stocks.
On the macro front, the 10-year Treasury yield is at 4.54%, and the 2-year is at 4.17%. The Fed is widely expected to hold rates steady at its July meeting, with the CME FedWatch tool showing a 79.1% probability of no change.
The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust ETF (QQQ) are both lower in premarket trading, with SPY down 0.085% at $751.07 and QQQ off 0.42% at $720.17.
Stocks In Focus
PMGC Holdings (ELAB)
PMGC Holdings Inc. (ELAB) surged 17.94% in premarket after the biopharmaceutical company announced a merger between two of its wholly owned subsidiaries: AGA Precision Systems LLC and A&B Aerospace Inc. The move seems to have excited investors, though the stock's price trend remains weak across all timeframes, according to market data.
WD-40 (WDFC)
WD-40 Company (WDFC) jumped 14.86% after reporting better-than-expected third-quarter results. The company behind the iconic blue-and-yellow can is showing strong price momentum in the long, short, and medium terms, with a moderate growth score.
Simulations Plus (SLP)
Simulations Plus Inc. (SLP) slipped 0.65% despite posting upbeat third-quarter earnings after Thursday's close. The stock has a strong price trend across all timeframes but a poor quality score, which might explain the muted reaction.
Equipmentshare.Com (EQPT)
Equipmentshare.Com Inc. (EQPT) was up 17.75% after raising its 2026 financial guidance and announcing a $500 million share repurchase program, citing strong demand. The stock's price trend is weak in all timeframes, but it has a moderate value score.
Netflix (NFLX)
Netflix Inc. (NFLX) edged 0.54% higher after reports that the streaming giant is rethinking its strategies to keep pace with competitors. The stock's price trend is weak across the board, though it has a good growth score.
Cues From Last Session
Thursday was a strong day for stocks, led by information technology, consumer discretionary, and financial sectors. The Nasdaq Composite surged over 300 points, powered by a semiconductor rally. Consumer staples and energy were the laggards.
Insights From Analysts
Mason Mendez, Global Real Assets Analyst at Wells Fargo Investment Institute, is cautiously optimistic. He notes that as geopolitical oil risks fade, investors are refocusing on earnings and Fed policy. "The outlook for equities remains positive," Mendez says, with an S&P 500 year-end target of 7,800–8,000 for 2026.
But he warns of near-term headwinds. Sticky inflation could keep rates higher for longer, pressuring growth stocks and increasing market sensitivity. Tech earnings are under the microscope, and Mendez thinks "expectations may have moved ahead of near-term earnings reality" when it comes to AI profits. While the long-term AI story is intact, high expectations create room for volatility — especially with rising investor leverage.
His advice: stay invested through the volatility, but avoid overconcentration. He recommends a selective approach to tech and suggests balancing portfolios with financials, industrials, utilities, and materials, which offer attractive valuations.
Upcoming Economic Data
Friday is a quiet day on the economic calendar — no major data releases scheduled.
Commodities, Crypto, And Global Equity Markets
Crude oil futures are down 0.32% in early New York trading, hovering around $71.85 per barrel. Gold is slipping 0.62% to about $4,098.11 per ounce, while the U.S. Dollar Index is nearly flat at 100.867.
Bitcoin (BTC) is up 2.21% over the past 24 hours, trading at $64,172.40.
Asian markets were mostly higher on Friday, with Australia's ASX 200, Hong Kong's Hang Seng, India's Nifty 50, South Korea's Kospi, and Japan's Nikkei 225 all in the green. China's CSI 300 was the exception. European markets are mixed in early trade.
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