Stock Market Today: S&P 500, Dow Jones, Nasdaq 100 Futures Decline After 2 Consecutive Days Of Gains - Intel, CSX In Focus

U.S. stock futures declined slightly on Friday after major benchmark indices posted their second consecutive day of gains on Thursday.

This comes amid President Donald Trump withdrawing his tariffs against the European Union, following a framework agreement regarding expanded U.S. access to Greenland.

Besides this, U.S. Final GDP figures for the third-quarter stood at 4.4%, ahead of estimates at 4.3%, according to data released by the Bureau of Economic Analysis. The Personal Consumption Expenditures (PCE) price index expanded 2.8% year-over-year, in line with estimates, with Core PCE at 2.8%.

Meanwhile, the 10-year Treasury bond yielded 4.23%, and the two-year bond was at 3.60%. The CME Group’s FedWatch tool‘s projections show markets pricing a 95% likelihood of the Federal Reserve leaving the current interest rates unchanged in January.

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Friday. The SPY was down 0.078% at $688.44, while the QQQ was down 0.20% at $619.49.

Stocks In Focus

Capital One Financial

• Capital One Financial Corp. (NYSE:COF) shares are sliding in pre-market trade, down 3.31%, following the company’s fourth-quarter results on Thursday, when its earnings fell short of analyst consensus estimates.
  
• The stock has a strong price trend in the Medium and Long terms, and is ranked moderately well on Momentum according to Benzinga’s Edge Stock Rankings.

Revelation Biosciences

• Revelation Biosciences Inc. (NASDAQ:REVB) is up 38.11% in pre-market after the company announced that it had reached an agreement with the Food and Drug Administration on an approval pathway for its drug Gemini, to treat acute kidney injury (AKI).
  
• The stock has a strong price trend in the short term, but is unfavorable in the Medium and Long terms, according to Benzinga’s Edge Stock Rankings.

Intel Corp

• Intel Corp. (NASDAQ: INTC) shares are down over 12% pre-market, following the company’s fourth-quarter results on Thursday, owing to a soft first-quarter outlook, which fell short of analyst estimates.
  
• Intel shares score high on Momentum, but are moderate in Value, while having a strong price trend in the short, medium and long terms, according to Benzinga’s Edge Stock Rankings.

CSX Corp

• CSX Corp. (NASDAQ:CSX) surged 2.99% pre-market, following its fourth-quarter results, despite missing consensus estimates on the top and bottom lines.
  
• The stock has moderate scores across all metrics in Benzinga’s Edge Stock Rankings, but has a favorable price trend in the short, medium and long terms.

Booz Hamilton Holding Corp

• Booz Hamilton Holding Corp. (NYSE:BAH) is up 0.25% pre-market ahead of the company’s fiscal third-quarter results before markets open on Friday.
  
• The stock does poorly in Benzinga’s Edge Stock Rankings with a low Momentum score, but has a favorable price trend in the Short and Medium terms.

Cues From Last Session

Energy, materials, consumer discretionary and health care led the way on Thursday, as all sectors within the S&P 500 ended the day in the green.

Insights From Analysts

According to Bank of America’s latest fund manager survey, institutional investors are the most bullish since 2021, with surging optimism, low cash levels and hedging.

The survey, which included 196 participants managing a combined $575 billion in assets, showed that 38% of respondents expect stronger global growth, with minimal fears of a recession, while equity allocations climbed to their highest level since December 2024, with 48% of fund managers now overweight on stocks.

This pushed BofA’s widely watched Bull & Bear Indicator up to 9.4, which is firmly in the “Hyper-Bull” territory, indicative of high optimism.

The Bank’s Chief Investment Strategist, Michael Hartnett, also called out the low levels of hedging, which he finds particularly striking.

“Low levels of stock market hedging are irrelevant in a world of positive surprises,” Hartnett said, while noting that “it matters greatly if surprises suddenly turn.”

Upcoming Economic Data

Here’s what investors will be keeping an eye on Friday.

• At 9:45 a.m. ET, S&P Global will release its flash U.S. services PMI for January, alongside the flash U.S. manufacturing PMI for the month.
• This will be followed at 10:00 a.m. ET by the final reading of consumer sentiment for January, which is expected to come in at 54.0, unchanged from the prior month.

Commodities, Gold, Crypto, And Global Equity Markets

Crude oil futures were trading higher in the early New York session by 1.03% to hover around $59.97 per barrel.

Gold Spot US Dollar is up 0.19% to hover around $4,918.76 per ounce. Its last record high stood at $4,966.7 per ounce on Friday. The U.S. Dollar Index spot was up 0.05% at the 98.408 level.

Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.40% lower at $89,258.41 per coin.

Most Asian markets closed high on Friday, barring India’s Nifty 50 and New Zealand’s NZX 50. European markets are mixed in early trade.

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