United States stock futures ticked lower on Thursday evening (Friday AEST), as investors awaited further insight into U.S. trade policy and prepared for the release of a key inflation indicator.
By 9:05 am AEST (11:05 pm GMT), futures on the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 were down 0.1%, 0.2%, and 0.3%, respectively.
In extended deals, Gap Inc. tumbled 14.9% after issuing underwhelming second-quarter guidance.
Dell Technologies added 1.9% after the company reported first-quarter revenue of $23.38 billion, topping the $23.18 billion estimate, while raising its full-year earnings outlook.
Ulta Beauty surged 8.2% as the cosmetics retailer posted earnings of $6.70 per share on revenue of $2.85 billion, comfortably beating forecasts of $5.81 per share and $2.79 billion.
American Eagle Outfitters shed 7.6% following wider-than-expected first-quarter adjusted losses per share of $0.29, compared to the $0.22 loss expected.
Costco eased 0.4% despite posting better-than-expected quarterly results, reporting earnings of $4.28 per share on $63.2 billion in revenue, slightly ahead of market expectations.
Traders are now turning their attention to Friday’s release of the April personal consumption expenditures (PCE) index, the Federal Reserve’s preferred inflation gauge.
Economists expect a 0.1% month-over-month increase and a 2.2% year-over-year rise in headline PCE.
Core PCE, which excludes food and energy, is projected to rise 0.1% month-on-month and 2.5% annually - still above the Fed’s 2% inflation target.
