Cleo Capital managing director analyzes Warby Parker’s stock performance and gives advice to investors on ‘Making Money.’
U.S. equity futures were trading lower early Friday after Wall Street extended a rally into a third day and oil prices pushed higher, surpassing $105 per barrel.
The major futures indexes suggested a decline of 0.4% when trading begins on Wall Street.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
U.S. West Texas Intermediate (WTI) crude futures climbed $1.63, or 1.6%, to $104.63 a barrel, adding to an 8% jump on Thursday.
Brent crude futures jumped $1.45, or 1.3%, to $108.16 a barrel, after surging nearly 9% on Thursday in the largest percentage gain since mid-2020.
OIL ADDS TO GAINS ON LACK OF PROGRESS IN RUSSIA-UKRAINE TALKS
Prices have been careening on doubts over both supplies of and demand for oil. After briefly topping $130 early last week, a barrel of U.S. crude fell to nearly $94 a barrel on Wednesday.
But reports of a sale of Russian crude oil to India and apparent setbacks in peace talks between Ukraine and Russia have renewed concern over possible shortfalls in supplies.
Some housing data to wrap up a busy week of economic report.
MORTGAGE RATES BREACH 4% FOR FIRST TIME SINCE 2019
Keep an eye out for existing home sales for the month of February. The National Association of Realtors is expected to say that sales of previously owned homes fell 6.2% to a seasonally adjusted annual rate of 6.1 million units. That would be down from a 1-year high of 6.5 million in January amid rising prices and record-low inventory.
Existing home sales for the month of February will be released Friday. (Associated Press / AP Newsroom)
At the same time, we’ll get the Conference Board’s Leading Economic index, also for February. Watch for a 0.3% increase from the prior month.
CLICK HERE FOR FOX BUSINESS’ REAL-TIME CRYPTOCURRENCY PRICING DATA
Bitcoin traded around $40,000.
In Asia, the Bank of Japan opted to keep its monetary policy unchanged, with its benchmark interest rate at minus 0.1%.
Tokyo’s Nikkei 225 index rose 0.6%, Hong Kong’s Hang Seng was little changed and China’s Shanghai Composite index added 1.2%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 34480.76 | +417.66 | +1.23% |
| SP500 | S&P 500 | 4411.67 | +53.81 | +1.23% |
| I:COMP | NASDAQ COMPOSITE INDEX | 13614.781392 | +178.23 | +1.33% |
On Wall Street, the S&P 500 climbed 1.2% on Thursday, closing at 4,411.67, after surging more than 2% in each of the prior two days for its best back-to-back performance in nearly two years.
The Dow Jones Industrial Average added 1.2% to 34,480.76. The Nasdaq rose 1.3% to 13,614.78. The tech-heavy index is on pace for its biggest weekly gain in more than a year.
FEWER AMERICANS FILED FOR JOBLESS CLAIMS LAST WEEK
A wave of better-than-expected reports on the U.S. economy Thursday may also have helped markets. Fewer workers applied for unemployment claims last week, and builders broke ground on more homes last month than economists expected.
CLICK HERE TO READ MORE ON FOX BUSINESS
In other trading, the yield on the 10-year Treasury note fell to 2.17% from 2.20% late Thursday.
The Associated Press contributed to this report.
