Data on Stocktwits showed retail traders remained bearish on SPY and ‘extremely bearish’ on QQQ.
- Investors awaited key inflation data that may determine the Fed’s next move.
- Economists expect headline inflation to cool to 2.5% year-over-year.
- Tariff developments and earnings reports added to the cautious tone.
U.S. stock futures were lower early Friday as investors await the January Consumer Price Index (CPI) report before the bell today, with consensus expecting headline inflation to cool to 2.5% year-on-year (YoY). The inflation print could shape the Federal Reserve’s rate expectations over the next few weeks.
As of 3:00 a.m. ET on Friday, Dow, S&P 500, and Nasdaq futures and Russell 2000 futures were lower by 0.1%.
Meanwhile, retail sentiment toward the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, has remained ‘bearish’, while the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq 100 Index, stayed ‘extremely bearish’ amid high message volumes.
U.S. markets will be closed on Monday, Feb. 16, for Presidents' Day.
Trending Stocks To Watch
Nvidia (NVDA): The company is reportedly set to lease a data center funded by $3.8 billion in junk bonds.
Apple (AAPL): The stock posted its worst day since April in yesterday’s session. Reports suggested further delays to AI-powered Siri upgrades and scrutiny around Apple News.
Palantir (PLTR): This stock is under scrutiny following a thesis from "Big Short" investor Michael Burry targeting a 60% collapse, even as DA Davidson maintains its "Buy" rating, citing no new cause for alarm.
Applied Materials (AMAT): The semiconductor equipment giant bucked the tech trend with a blowout quarterly report and an upbeat guidance
Tesla (TSLA): The U.S. Commerce Department finalized duties exceeding 160% on Chinese battery-grade graphite, potentially raising costs for domestic EV makers. On the other hand, Novonix (NVX) stands to be a big winner following this policy move.
Rivian (RIVN): Saw a strong surge in after-hours trade on a revenue beat. But watch for any impact on the R2 rollout from the new graphite tariffs.
Eli Lilly (LLY): Reuters reports the company has built a $1.5 billion stockpile of its experimental weight-loss pill, orforglipron, ahead of an April FDA decision.
Moderna (MRNA): The biotech major is set to report earnings on Friday. Its shares fell roughly 10% this week after an FDA setback involving an investigational flu vaccine.
Rocket Lab (RKLB): The company is prepping a Mach 20 hypersonic test mission for late February.
IREN: The stock will be on retail radar after being added to the MSCI USA Index.
Meanwhile, reports from the Financial Times suggest President Trump plans to scale back some steel and aluminum tariffs.
Other tickers trending on Stocktwits at the time of writing included Freshworks Inc (FRSH), Pinterest (PINS), Churchill Capital (CCCX) and DraftKings Inc (DKNG), among others.
Other Catalysts To Watch
On the economic front, investors will be monitoring the release of the consumer price index at 8:30 am ET.
On the earnings radar, investors will also be watching for the quarterly reports from Moderna (MRNA), Wendy’s (WEN), Cameco (CCJ), and Trump Media & Technology (DJT), among others, today.
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