Nasdaq-100 futures slipped on Friday after Apple issued its latest quarterly results.
Futures linked to the tech-heavy index slid 0.3%, while S&P 500 futures dropped 0.1%. Futures tied to the Dow Jones Industrial Average edged 14 points higher, or 0.04% higher.
Apple fell 3% after the iPhone maker issued a weak revenue outlook for the December quarter. Though the company beat on top and bottom lines in its fiscal fourth quarter, overall sales declined for the fourth quarter in a row. Elsewhere, Block popped 16% on an earnings beat and a raise on full-year guidance, while Paramount Global jumped 4.5% on a strong quarterly report.
Traders also looked ahead to the release of the October jobs report, due at 8:30 a.m. ET. Economists polled by Dow Jones are calling for an increase of 170,000 payrolls, compared to September’s blowout of 336,000 jobs. They also anticipate the unemployment rate will hold steady at 3.8%.
As of Thursday’s close, stocks are on pace for sizable weekly gains as investors grow hopeful that the Federal Reserve’s rate-hiking campaign is nearly over.
The Dow is up 4.4%, on pace for its best weekly performance since October 2022. The S&P 500 is tracking for a 4.9% advance on the week, while the Nasdaq is up 5.2% — both are tracking for their best week since November 2022.
