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US STOCKS-Wall St set for subdued open as markets await tariff details
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US STOCKS-Wall St set for subdued open as markets await tariff details
Feb 14, 2025 6:41 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

*

Airbnb ( ABNB ) rises after upbeat quarterly results

*

Moderna ( MRNA ) falls after posting bigger loss than expected

*

January retail sales at -0.9% MoM vs -0.1% estimate

*

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.

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