Last Updated: 4:20 PM EST
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Stock indices finished today’s trading session mixed after today’s retail sales report. Indeed, the Dow Jones Industrial Average (DJIA) and the S&P 500 (SPX) fell 0.37% and 0.01%, respectively. Meanwhile, the Nasdaq 100 (NDX) gained 0.38%.
The latest retail sales data released on Friday painted a gloomy picture, with sales declining more than expected in January. Headline retail sales fell 0.9% in January, which exceeded the anticipated 0.2% decline. This marked the largest month-over-month drop in retail sales since January 2024.
The decline was attributed to a combination of factors, such as the post-holiday season slump and harsh winter weather. RSM chief economist Joe Brusuelas noted that the “traditional holiday hangover & a nasty winter freeze” contributed to the cooling of retail sales. In addition, the control group, which excludes volatile categories and is factored into the gross domestic product (GDP) reading, declined by 0.8% and missed expectations of a 0.3% increase.
The weak retail sales data has raised concerns about the overall health of the economy. In fact, Jefferies’ U.S. economist, Thomas Simons, warned that if the upcoming February and March data come in equally weak, it could lead to a negative GDP print for the quarter. However, this is not the base case scenario, and economists still expect GDP growth to be around 2%.
First Published: 3:19 AM EST
U.S. futures remained steady on Friday morning, following a strong session on the previous day. The market rally was fueled by U.S. President Donald Trump’s decision to delay the implementation of new reciprocal tariffs. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.09%, 0.01%, and 0.07%, respectively, at 3:18 a.m. EST, February 14.
On Thursday, all three major indices ended the day higher. The Dow Jones, the S&P 500, and the Nasdaq Composite (NDAQ) gained 0.77%, 1.04%, and 1.5%, respectively. In addition to Trump’s tariff plans, an encouraging Producer Price Index (PPI) report also helped boost market sentiment.
In major stock market news, Applovin (APP) gained 24% on impressive Q4 results. Also, Crocs (CROX) stock was up 23.9% following the release of better-than-expected Q4 results. In contrast, Reddit (RDDT), Deere (DE), The Trade Desk (TTD), and Datadog (DDOG) declined as investors expressed disappointment over their earnings reports.
Moving to the extended trading session, GameStop (GME) stock was up 7.4% on news that the company is looking to invest in cryptocurrencies. Also, Airbnb (ABNB) jumped 14.2% after reporting strong fourth-quarter results.
Looking ahead, investors are focused on the release of U.S. Retail Sales and Industrial Production reports for January, due today. These reports will provide insights into consumer spending and overall economic activity.
On the corporate earnings front, a few companies are scheduled to release their quarterly numbers today, such as Moderna (MRNA), Magna (MGA), Fortis (FTA), and AMC Networks (AMCX).
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.546% as of writing. Simultaneously, WTI crude oil futures are trending higher, hovering near $71.65 per barrel as of the last check.
Elsewhere, European indices opened lower on Friday after a strong session yesterday. Further, traders are assessing the impact of U.S. tariffs on European growth after Trump signed an executive order for reciprocal tariffs but delayed its implementation.
Asia-Pacific Markets Traded Mixed on Friday
Asia-Pacific indices were mixed today amid hopes of easing trade tensions following Trump’s delay on reciprocal tariffs. Further, the People’s Bank of China’s promise to ease monetary policy as necessary to support economic growth helped lift market sentiment.
Notably, the Hang Seng Index rallied 3.53%. Further, China’s Shanghai Composite and Shenzhen Component indices gained 0.43% and 1.16%, respectively. However, Japan’s Nikkei and Topix indices were down 0.79% and 0.23%, respectively.
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