Dow Jones and Nasdaq 100 futures diverged in Asian markets as earnings optimism offset Fed uncertainty, tariff headlines, and yen-related risks.
Silver price jumps; yen strengthens
Investors returned from Martin Luther King Jr. Day to plenty of drama on Wall Street.
The overall US stock market tried to rally early during the Friday session, but seems a little stuck at the moment as most traders will begin to focus on the earnings calls ahead.
8am: Red start predicted Futures point to a negative start for US stocks when trading gets underway in an hour and a half, as a volatile week for equities draws to a close. Dow Jones futures are down 0.2%, with the S&P 500 and Nasdaq off around 0.1%.
U.S. stock futures declined slightly on Friday after major benchmark indices posted their second consecutive day of gains on Thursday.
Intel's stock skids offhours after the chip maker swings to a loss
Now that the spat with the EU over Greenland seems to have been avoided, the stock markets in America start to focus on earnings soon.
Dow Inc. (DOW) faces a challenging chemical market but is aggressively executing a $1B cost-cutting plan, ahead of schedule, with European restructuring prioritized. Packaging & Specialty Plastics, accounting for ~50% of sales, is under pressure from global polyethylene overcapacity, especially from China, impacting segment margins and overall profitability. DOW's valuation is mid-pack among peers, with a 9.95x EV/EBITDA, and the company's flexible North American cost advantage and asset base support a slight premium.
Dow has transitioned from a cautious Hold to a high-quality Hold, with downside risks now meaningfully lower than in June 2025. Recent positive free cash flow, improved liquidity, and tangible book value stabilization signal management's effective balance sheet defense, though demand remains weak. Valuations remain attractive near book value, but confirmation of sustainable free cash flow and dividend coverage in Q4 is critical before upgrading to Buy.
“The long wait to cross a round number bears thinking about as the Dow sits on the cusp of 50000.