Former E-Trade CEO Karl Roessner shares his biggest takeaways from the House hearing on GameStop.
U.S. equity markets were set to open modestly higher Friday after Treasury Secretary Janet Yellen called for Congress to deliver a “big package” for COVID-19 relief.
“I think the price of doing too little is much higher than the price of doing something big,” Yellen told CNBC’s “Closing Bell” on Thursday. “We think that the benefits will far outweigh the costs in the longer run.”
ILHAN OMAR’S FINANCIAL TRANSACTION TAX WOULD HURT MAIN STREET: GAMESTOP HEARING EXPERT
Dow Jones Industrial Average futures were higher by 85 points, or 0.27%, while S&P futures and Nasdaq Composite futures advanced 0.24% and 0.55%, respectively.
Looking at stocks, Deere & Co. raised its 2021 outlook for both earnings and revenue amid improved demand for its farm and construction machinery, which is expected to see sales grow by 15% to 20% in the U.S. and Canada, up from 5% to 10% growth previously.
Semiconductor equipment manufacturer Applied Materials Inc. received a slew of price target hikes from Wall Street analysts after guiding for revenue above expectations despite the global chip shortage.
Britain’s top court ruled some Uber Technologies Inc. drivers are considered employees and not independent contractors. The decision will now go to an employment tribunal which will determine how those drivers will be compensated.
Streaming provider Roku Inc. reported a surprise profit as average revenue per user jumped 24% from a year ago. The company, however, warned full-year revenue growth would be below the levels experienced in the first two quarters of 2021.
File-hosting service Dropbox Inc. posted quarterly revenue that topped the $500 million mark for the first time, but its bottom line suffered because of a $400 million real estate impairment charge due its permanent shift to work from home.
In commodities, West Texas Intermediate crude oil fell $1.29 to $59.23 per barrel and gold dipped $7.10 to $1,767.90 an ounce.
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European markets were all trading higher, with Britain’s FTSE 100 up 0.03%, Germany’s DAX 30 rising 0.42% and France’s CAC 40 gaining 0.5%.
In Asia, Japan’s Nikkei 225 lost 0.72% while Hong Kong’s Hang Seng index advanced 0.16% and China’s Shanghai Composite climbed 0.57%.
