Stock Futures Point Higher as Bulls Close Out the Week in Control
U.S. stock futures are up early Friday as optimism holds firm heading into the weekend. Investors are responding positively to a stable ceasefire between Israel and Iran, renewed hopes for easing trade tensions with China, and hints that the Fed may have a more dovish hand on the horizon.
🔼 By 3:33 AM ET
- Dow futures up +149 points (+0.3%)
- S&P 500 futures up +20 points (+0.3%)
- Nasdaq 100 futures up +87 points (+0.4%)
🔥 What’s Moving the Market?
1. Bulls Still in Control
The $QQQ tech index is floating in price discovery after closing Thursday at 546.22 (+0.94%), notching new all-time highs. With geopolitical fear fading and no major earnings releases today, all eyes are on economic data. Supports to watch: 536, 525, 513, and 500 psychological.
2. Dovish Fed Hopes
Trump’s potential move to replace Fed Chair Powell by September/October added to expectations for more rate-friendly leadership. The dollar tumbled to 3.5-year lows this week on the back of that sentiment.
3. Rare Earth Deal with China
The White House confirmed a new agreement with China to fast-track shipments of rare earths — a key boost for tech and defense sectors. On top of that, Trump’s team is floating an extension of the 90-day tariff pause, further reducing trade friction.
📊 Key Economic Report: PCE Inflation (May)
- Core PCE YoY expected at 2.3%
- Monthly figures to match April
This is the Fed’s favorite inflation gauge. A stable print here supports the market’s belief that rate cuts could be back on the table later this year.
👟 Nike Shifts Production
Nike announced plans to shift manufacturing out of China to avoid added costs from Trump’s tariffs. Though Q4 revenue dipped 12%, it still beat estimates. Nike stock surged in after-hours trading on stronger-than-expected guidance.
🏦 Bank Stress Test Results Coming
The Fed is set to release big bank stress test results this afternoon. Analysts expect most major banks to pass, unlocking capital for buybacks, dividends, and growth. Watch JPM, GS, MS, and BAC.
🛢 Oil Stabilizes After Wild Week
Oil futures are recovering after heavy losses earlier this week:
- Brent up 0.7% to $67.14
- WTI up 0.7% to $65.69
Both are still down ~12% for the week as the Israel-Iran ceasefire removed war-risk premiums. The recent U.S. inventory draw helped steady prices into the weekend.
💬 What to Watch Today
📈 Economic Data Releases
- 8:30 AM ET: Core PCE, PCE, Personal Spending
- 10:00 AM ET: Michigan Sentiment & Inflation Expectations
- 11:30 AM ET: Atlanta Fed GDPNow (Q2)
- 1:00 PM ET: Baker Hughes Rig Counts
- 4:30 PM ET: Fed Stress Test Results
📉 No major earnings today — just focus on macro data and key support/resistance.
🪙 Bitcoin trades around $107.5K
🥇 Gold holding near $3,300/oz
💡 Reminder from OP
Markets go both ways — and so do our trading systems. Don’t guess direction. Trade with structure.
See you in chat. Let’s finish the week strong.
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