U.S. stock futures declined on Friday with investors awaiting President Donald Trump’s selection for the next Federal Reserve chair and digesting the latest earnings reports from top technology companies.
As of 4:34 P.M. (GMT+7), Dow Jones Industrial Average futures fell by 0.86%, or 422.00 points, to 48,649.60 points, while S&P 500 futures decreased by 0.93%, or 64.50 points, to 6,904.40 points. Nasdaq 100 futures also declined by 1.13%, or 292.10 points, to 25,592.20 points.
Attention has shifted to Trump’s pending decision on who will lead the central bank after Jerome Powell. The shortlist includes former Federal Reserve Governor Kevin Warsh, seen as the leading candidate, alongside current Fed Governor Chris Waller, BlackRock’s Rick Rieder, and National Economic Council Director Kevin Hassett.
Trump has stated that he will unveil his nominee today, coming shortly after the Fed, under Powell, opted to keep interest rates unchanged in its first policy decision of 2026. This outcome has reportedly aggravated the president, though market participants still expect approximately two quarter-point rate cuts by year-end, based on CME FedWatch projections.
On the corporate front, Apple’s shares fluctuated between positive and negative territory in the premarket session after surpassing earnings and revenue forecasts for its fiscal first quarter, buoyed by strong demand for iPhones. Sandisk saw its stock price jump 19% to USD 643.10 per share after presenting optimistic guidance for upcoming quarters.
These results wrapped up a turbulent period for large technology firms. Microsoft’s shares dropped about 10% after warning of a potential slowdown in cloud services growth, which spurred a broader retreat across software stocks. Investors remain focused on balancing the promise of artificial intelligence-driven revenues with elevated investment costs.
Despite recent choppiness, the S&P 500 and Nasdaq continue to post weekly gains, while the Dow is slightly lower. All major benchmarks are set to advance for the month of January.
With earnings season in full swing, upcoming reports from major oil companies Exxon Mobil and Chevron, as well as updates from American Express and Verizon, are now in the spotlight.
