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Russian (RU) Updated Fri, Feb 14, 2025, 8:15 AM 1 min read
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US stocks opened roughly flat on Friday as investors weighed a busy week of tariff hikes and inflation updates, as fresh retail data and earnings reports rolled in.
The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) traded little changed shortly after the opening bell, while the Nasdaq Composite (^IXIC) was up 0.1% after Thursday's sharp gains.
Retail sales booked their biggest monthly drop in a year to start 2025, down 0.9% in January — significantly below the 0.9% expected. The report out Friday wrapped up a week of key data, with inflation top of mind after two hot readings dragged on hopes for interest rate cuts.
Markets are taking a pause for more thought about this week's fast-moving stream of policy shifts from President Donald Trump. These ranged from 25% tariffs on steel and aluminum, to Ukraine peace talks with Russia, to a review of CHIPS Act terms for projects.
But stocks are still on track for solid weekly wins, having jumped on Thursday as Wall Street welcomed a delay in implementation of reciprocal tariffs. The S&P 500 is now eyeing a fresh all-time high after closing just shy of the 6,118.71 record.
Among Friday's big stock movers, Airbnb (ABNB) shares jumped after the travel company beat analyst expectations. GameStop (GME) shares popped amid speculation the games retailer will move into bitcoin. On Friday, Moderna (MRNA) posted a bigger earnings loss than expected, sending down shares of the struggling vaccine maker.
LIVE 9 updates
Retail sales see biggest drop in a year to start 2025
New data out Friday showed retail sales declined more than expected in the first month of 2025.
Headline retail sales fell 0.9% in January, more than the 0.2% decline economists had expected, according to Bloomberg data. This marked the largest month-over-month decline in retail sales since January 2024.
Retail sales in December were revised up to 0.7% from a prior reading that showed a 0.4% increase in the month, according to Census Bureau data.
"The traditional holiday hangover & a nasty winter freeze combined to cool topline retail sales," RSM chief economist Joe Brusuelas wrote in a post on X.
Read more here.
Stocks steady as investors digest tariff plan, retail sales
Stocks opened flat as investors digested the biggest decline in retail sales in a year and Trump's plan on reciprocal tariffs.
The S&P 500 (^GSPC), Dow (^DJI), and Nasdaq Composite (^IXIC) were all trading roughly flat after the opening bell.
Tesla’s $400 billion slide: Why Wall Street says 'buyer beware'
Trump said to be set to change US CHIPS Act deals, delaying funding
The Trump administration is reportedly looking into renegotiating the terms for some awards under the CHIPS Act, meaning that some upcoming funding handouts will be delayed.
The White House is said to be reviewing projects given backing under the Biden-era effort, which aims to lift US production of chips via up to $39 billion in subsidies.
Many of the biggest recipients — which include Intel (INTC), TSMC (TSM), Samsung Electronics (005930.KS, SSNLF) and SK Hynix (000660.KS, HXSCL) — have major manufacturing facilities in China.
Reuters reports:
Read more here.
Coinbase earnings: What Wall Street is saying
Yahoo Finance's Brian Sozzi reports:
Coinbase (COIN) cashed in for the final quarter of 2024.
Shares of the crypto exchange fell slightly to $295.18 each in pre-market trading on Friday, despite a better-than-expected earnings report the night before.
The pullback in the stock likely reflects its mixed guidance for the first quarter, where an increase in marketing spending could bring a sequential step-down in profit margins.
But the chatter on Wall Street is that the stock's muted reaction shows watchers are missing the forest for the trees.
"We think management guided conservatively for the first quarter," JP Morgan analyst Ken Worthington said in a client note.
Read more here.
China invites Jack Ma and DeepSeek founder to meet top leaders
Beijing has invited Alibaba's (BABA, 9988.HK) Jack Ma, DeepSeek's founder and other entrepreneurs to meet China's top leaders, including President Xi. Next week's meeting signals a major shift from a five-year push to rein in China's billionaires and the private sector.
Gains for Alibaba shares in Hong Kong helped boost the Hang Seng China Enterprises Index (^HSCE) to a 4.1% closing gain on Friday — its biggest since February 2022.
Bloomberg reports, citing people familiar with the matter:
Read more here.
Good morning. Here's what's happening today.
Trending tickers in after-hours trading on Friday
AirBnB (ABNB)
Shares of Airbnb soared over 14% in extended trading following stronger-than-expected Q4 profit, with revenue rising 12% to $2.5 billion and net income of $461 million. Bookings grew 12% to 111 million, while gross booking value climbed 13% to $17.6 billion, surpassing analyst expectations.
GameStop (GME)
GameStop (GME) shares surged nearly 10% in after-hours trading on Thursday following reports that the video game retailer is considering investing in cryptocurrencies, including bitcoin (BTC-USD). The company has been tied into cryptocurrencies for years, hitting all-time highs among meme-stock resurgence.
Palo Alto Networks (PANW)
Palo Alto Networks slumped 5% after the market closed Thursday. The company had popped during trading hours following its full-year revenue forecast on Thursday, anticipating strong demand for its cybersecurity solutions amid growing online threats — only to miss earnings in mixed quarterly results.
Sony shares leap following strong profit forecast and gaming division performance
Sony Group (SONY) stock jumped by up to 11% in Tokyo on Friday, the largest increase since August, after the company raised its operating profit forecast for the fiscal year to 1.34 trillion yen (USD $8.7 billion), a 2% increase.
This upward revision is largely attributed to strong performance in its gaming division, with a 37% rise in quarterly profit and robust sales of PlayStation 5 units.
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