United States stock futures were steady on Thursday night (Friday AEDT) as investors awaited inflation data that could help shape expectations for the Federal Reserve’s upcoming interest rate decision.
By 10:40 am AEDT (11:40 pm GMT) Dow futures, S&P 500 futures, and Nasdaq 100 futures were each trading around the flatline.
In extended trading, Ulta Beauty climbed 5.8% after beating Wall Street’s expectations for the fiscal third quarter and lifting its full-year outlook.
Hewlett Packard Enterprise fell around 9.1% after fourth-quarter revenue of $9.68 billion missed forecasts for $9.94 billion, though earnings topped estimates.
Rubrik surged 15.1% following a beat on both revenue and adjusted earnings. The cloud data management company posted adjusted earnings per share (EPS) of $0.10 on revenue of $350.2 million, outperforming expectations for a 17-cent loss and $320.5 million in revenue.
Software firm ServiceTitan gained 5.5% after delivering a third-quarter revenue beat and issuing fourth-quarter guidance ahead of consensus forecasts.
In contrast, cybersecurity provider SentinelOne slid 8.5% after the company projected fourth-quarter revenue of $271 million, slightly below expectations of $273 million. Full-year revenue guidance matched forecasts, and third-quarter results were ahead of estimates.
During Thursday’s regular session, the S&P 500 and Nasdaq Composite closed modestly higher, while the Dow Jones Industrial Average finished just below flat.
Investors are closely monitoring economic indicators ahead of next week’s Federal Reserve meeting. Although the November payrolls report is scheduled for release after the 10 December decision, labour market signals have been mixed.
A report from Challenger, Gray & Christmas showed job cuts surpassing 1 million so far this year, driven by corporate restructuring, artificial intelligence and tariffs.
Meanwhile, weekly jobless claims fell to their lowest level since September 2022.
Hopes that signs of labour market softening might prompt the Fed to cut rates by 25 basis points (bps) have strengthened. Markets are pricing in an 87% probability of a cut next Wednesday, sharply higher than just two weeks ago, according to the CME Group FedWatch Tool.
A fresh batch of economic data arrives on Friday. The Commerce Department will publish delayed September figures on consumer spending, incomes and the personal consumption expenditures (PCE) index, the Fed’s preferred measure of inflation.
This will be the first PCE release since the record-long government shutdown.
The University of Michigan will also issue its December consumer sentiment survey.
Despite volatility, equities are managing small weekly gains. The S&P 500 is ahead 0.1%, while the Nasdaq has risen nearly 0.6% and the Dow about 0.3%.
