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Airbnb ( ABNB ) rises after upbeat quarterly results
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Moderna ( MRNA ) falls after posting bigger loss than expected
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January retail sales at -0.9% MoM vs -0.1% estimate
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Futures down: Dow 0.16%, S&P 500 0.05%, Nasdaq 0.03%
(Updates prices before markets open)
By Shashwat Chauhan and Sukriti Gupta
Feb 14 (Reuters) -
Wall Street's main indexes were set for a muted open on
Friday, as investors awaited more clarity on U.S. President
Donald Trump's reciprocal tariff plans after robust gains in the
last sessions, with all three benchmarks set for weekly gains.
Trump tasked his economics team on Thursday with devising
plans for reciprocal tariffs on every country taxing U.S.
imports, though the directive stopped short of imposing fresh
tariffs.
Howard Lutnick, Trump's pick for commerce secretary, said
the administration would address each affected country one by
one and said studies on the issue would be completed by April 1.
"The tariff news created a lot of volatility about two
weeks ago, but right now it seems that the markets are looking
past it," said Larry Tentarelli, chief technical strategist and
founder of Blue Chip Daily Trend Report.
"The markets probably see the tariffs as more of a
negotiating tool than anything else."
Imposition of tariffs on steel and aluminum imports, a
bigger-than-expected rise in January's consumer prices and
hawkish comments from Federal Reserve Chair Jerome Powell added
to market volatility this week, with uncertainty likely to
persist.
However, all three major indexes are set for robust weekly
gains, with the S&P 500 currently sitting about 0.2% away
from its all-time highest level hit three weeks ago.
The S&P 500 closed about 1% higher on Thursday, boosted by
gains in Nvidia ( NVDA ), Apple ( AAPL ) and Tesla.
Stocks also got a boost after data showed U.S. producer
prices increased in January, while key elements in the core
Personal Consumption Expenditures (PCE) index, a measure closely
tracked by the Fed, were benign or lower.
Traders are fully pricing in at least one 25-basis-point
interest rate cut by the end of the year, with an about 50%
chance of an additional such reduction, as per data complied by
LSEG.
At 8:49 a.m. ET, Dow E-minis were down 70
points, or 0.16%, S&P 500 E-minis were down 3 points, or
0.05%, and Nasdaq 100 E-minis were down 7.25 points, or
0.03%.
Meanwhile, U.S. retail sales fell more than expected in
January, dropping 0.9% last month after an upwardly revised 0.7%
increase in December.
Yields across U.S. government bonds ticked lower after
the data, with the one on the 10-year note last at
4.47%.
Comments from Dallas Fed President Lorie Logan would also be
awaited later in the day.
Fourth-quarter earnings are estimated to grow 15.2%,
compared to 11.6% growth projected at the start of the month,
according to data compiled by LSEG.
Tesla outpaced most megacap and growth stocks in premarket
trading, adding 1.8% after hitting an 11-week low earlier this
week.
Airbnb ( ABNB ) jumped 13.5% after the vacation home rentals
company posted higher quarterly revenue.
DaVita ( DVA ) dropped 9.6% after the dialysis firm
projected annual profit below estimates. Warren Buffett's
Berkshire Hathaway ( BRK/A ) also sold some of its shares in the
company.
Moderna ( MRNA ) fell 4.7% after the vaccine maker reported
a bigger-than-expected quarterly loss.
U.S. markets will remain closed on Monday for the
Washington's Birthday holiday.