United States stock futures remained little changed on Thursday night (Friday AEDT) as investors looked ahead to the release of a key inflation measure, the personal consumption expenditures (PCE) price index.
By 9:25 am AEDT (10:25 pm GMT), futures for the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 were largely flat.
In extended trading, Lululemon plunged 9.8% after issuing a weaker-than-expected outlook for the first quarter and 2025.
Meanwhile, Argan surged 12% after reporting stronger-than-expected earnings, with earnings per share (EPS) coming in at $2.22, significantly above estimates of $1.15, while revenue came in at $232.47 million, exceeding the expected $197.5 million.
The market’s cautious stance followed a losing session for major averages on Thursday. The Dow fell 0.4%, the S&P 500 lost 0.3%, and the Nasdaq Composite dropped 0.5%.
Stocks came under pressure after President Donald Trump announced a 25% tariff on all foreign-made cars, a move that unsettled investors.
ANZ analysts highlighted the potential for trade tensions to escalate, stating: "Over 90% of US motor vehicle imports come from just five trading partners: EU, Canada, Mexico, South Korea and Japan. The EU, Canada and a few other trading partners have expressed their intention to retaliate once they assess the full scale of tariffs."
On the data front, investors are now focused on February’s PCE price index, due Friday, which could provide further clarity on inflation trends.