U.S. stock futures were mixed on Friday, as Dow Jones, S&P 500 and Nasdaq 100 futures moved in different directions following Thursday's lower close.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf said Washington's "carrot-and-stick approach has no effect on Iran" and said progress would require agreement on Iran's seven conditions, after a Wall Street Journal report that Vice President JD Vance sent a letter to Mohsen Rezaei to revive peace negotiations at President Donald Trump's direction; Reuters reported an Iranian official rejected Qatar's latest proposals as "unacceptable ideas and not an offer."
Data from Kalshi showed bettors placed a 71% probability on a "25 bps increase" in December and a 28% probability of no change.
Meanwhile, the 10-year Treasury bond yielded 4.93%, and the 2-year Treasury bond yielded 4.59%, at the last check. The CME Group's FedWatch tool projections show markets pricing in a 74.4% likelihood of the Federal Reserve hiking interest rates after its December meeting.
| Index | Performance (+/-) |
|---|
| Dow Jones | 0.13% |
| S&P 500 | -0.87% |
| Nasdaq 100 | -2.02% |
| Russell 2000 | -0.34% |
The SPDR S&P 500 ETF Trust (NYSE:SPY), the Invesco QQQ Trust ETF (NASDAQ:QQQ) and the SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA), which track the S&P 500 index, Nasdaq 100 index and Dow Jones Industrial Average, respectively, were mixed in premarket trading on Friday. The SPY was down 0.78% at $763.39, the QQQ declined 1.90% to $701.73, and the DIA rose 0.22% to $523.90.
Intel
- Intel Corp. (NASDAQ:INTC) was 26.09% lower in premarket trading on Friday after it reported third-quarter 2026 results after the closing bell on Thursday that beat estimates, with earnings of $0.52 per share versus the $0.40 estimate and revenue of $16.51 billion versus the $16.47 billion estimate
- MarketDash's Edge Stock Rankings indicate that INTC maintains a negative price trend in the short and medium terms but a negative trend in the long term, with a strong momentum score.
Dell Technologies
- Dell Technologies Inc. (NYSE:DELL) was 8.50% lower in premarket trading on Friday as shares of hardware companies traded lower after Intel warned that weakness in the PC market could persist through the first half of 2027.
- MarketDash's Edge Stock Rankings indicate that DELL maintains a negative price trend in the short term but a positive trend in the medium and long terms, with a poor value score.
AstraZeneca
- AstraZeneca PLC (NYSE:AZN) was 3.08% higher in premarket on Friday after it reported third-quarter 2026 results before the opening bell that were beating estimates, with core earnings of $2.79 per share versus the $2.59 estimate and revenue of $16.21 billion versus the $16.03 billion estimate.
- MarketDash's Edge Stock Rankings indicate that AZN maintains a positive price trend in the short, medium, and long terms, with a strong momentum score.
Eli Lilly
- Eli Lilly And Co. (NYSE:LLY) was 1.35% higher after reporting better-than-expected third-quarter results, with revenue jumping 39% to $24.4 billion on strong demand for Mounjaro and Zepbound. Lilly also raised its full-year revenue guidance.
- MarketDash's Edge Stock Rankings indicate that LLY maintains a positive price trend in the short, medium, and long terms, with a strong quality score.
Cues From Last Session
U.S. stocks closed lower on Thursday, with health care, real estate, and consumer staples leading and communication services and information technology lagging. The Dow dropped over 100 points.
| Index | Performance (+/-) | Value |
|---|
| Dow Jones | -0.25% | 52,342.56 |
| S&P 500 | -0.30% | 7,720.39 |
| Nasdaq Composite | -1.38% | 26,184.73 |
| Russell 2000 | 1.01% | 2,859.22 |
Insights From Analysts
Luis Alvarado, co-head of global fixed income at Wells Fargo Investment Institute, wrote that investors should not let "spooky" headlines obscure what he called the big picture, and he said inflation, interest-rate, and geopolitical concerns "should not obscure our outlook for U.S. economic resilience through 2027."
He said resilient consumer spending and AI-related investment should support growth, even as risks build around elevated interest rates, Middle East tensions, trade uncertainty, and stretched household budgets.
Alvarado said investors should focus on the path ahead as "elevated energy and other goods prices, geopolitical disruptions, and strong AI-related investment demand continue to fuel inflation pressures."
He added, "In our view, these pressures should ultimately prompt additional Fed rate hikes and keep longer-term interest rates elevated," while also warning that tariffs, higher borrowing costs, and fading fiscal support could make the path through 2027 bumpier.
He said those crosscurrents argue for selectivity, writing that "bumps in the road do not necessarily mean the economy is headed off course" and that he still expects resilience through 2027 as consumer spending stays buoyant and liquidity and bank lending conditions provide support. He also wrote, "Markets rarely offer investors an all-clear signal."
Upcoming Economic Data
Here's what investors will be keeping an eye on Friday.
- October's Chicago PMI data will be out by 9:45 a.m. ET.
Commodities, Crypto, And Global Equity Markets
Crude Oil WTI futures were trading higher in the early New York session by 1.76% to hover around $103.80 per barrel. Meanwhile, Brent futures were trading higher in the early New York session by 1.89% to hover around $112.89 per barrel.
Gold Spot US Dollar fell 0.24% to hover around $3,998.06 per ounce. The U.S. Dollar Index spot was 0.18% lower at the 101.6991 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.18% higher at $77,939 per coin over the last 24 hours.
Asian markets were mixed on Friday, as Australia's ASX 200, India's Nifty 50, and Hong Kong's Hang Seng indices rose. South Korea's Kospi, China's CSI 300, and Japan's Nikkei 225 indices fell. European markets were mixed in early trading.
