(Editor’s note: The future prices of benchmark tracking ETFs, the lede, and the headline were updated in the story.)
U.S. stock futures shed earlier losses to advance on Friday morning, following Thursday's record advances following mega-cap earnings.
Meanwhile, the Donald Trump administration leveraged the three-week-old ceasefire to avoid a congressional 60-day deadline under the War Powers Resolution to withdraw troops from Iran.
Meanwhile, the 10-year Treasury bond yielded 4.39%, and the two-year bond was at 3.89%. The CME Group's FedWatch tool‘s projections show markets pricing a 94.8% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.
| Index | Performance (+/-) |
| Dow Jones | 0.43% |
| S&P 500 | 0.30% |
| Nasdaq 100 | 0.01% |
| Russell 2000 | 0.24% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Friday. The SPY was up 0.37% at $721.32, while the QQQ advanced 0.12% to $668.53.
Stocks In Focus
Apple
- Apple Inc. (NASDAQ:AAPL) was up 3.11% in premarket on Friday after reporting better-than-expected results for its second quarter and issuing strong June-quarter guidance.
- Benzinga’s Edge Stock Rankings indicate that AAPL maintains a strong price trend in the short, medium, and long terms, with a solid growth score.
Twilio
- Twilio Inc. (NYSE:TWLO) jumped 20.69% after reporting better-than-expected first-quarter financial results and issuing second-quarter guidance above estimates. Also, the company raised its FY26 sales guidance above estimates.
- Benzinga’s Edge Stock Rankings indicate that TWLO maintains a strong price trend in the short, medium, and long terms, with a poor value score.
Roblox
- Roblox Corp. (NYSE:RBLX) dropped 22.10% despite posting upbeat first-quarter results after Thursday’s closing bell, but lowered its revenue outlook to below analyst estimates. The company cut its fiscal 2026 revenue outlook to a range of $7.33 billion to $7.6 billion, versus the $8.13 billion analyst estimate.
- Benzinga’s Edge Stock Rankings indicate that RBLX maintains a weak price trend in the short, medium, and long terms.
Atlassian
- Atlassian Corp. (NASDAQ:TEAM) soared 24.26% as it reported earnings of $1.75 per share, which blew past the analyst consensus of $1.32 by 32.58%. Quarterly revenue clocked in at $1.79 billion, which beat the consensus estimate of $1.69 billion and was up from $1.36 billion in the same period last year.
- Benzinga’s Edge Stock Rankings indicate that TEAM maintains a weak price trend in the short, medium, and long terms.
Eli Lilly
- Eli Lilly and Co. (NYSE:LLY) was 0.58% higher as its revenue skyrocketed 56% year-over-year to $19.8 billion during its first-quarter 2026, driven primarily by the astronomical volume demand for its metabolic and weight-management medications.
- Benzinga’s Edge Stock Rankings indicate that LLY maintains a weak price trend in the short, medium, and long terms, with a solid growth score.
Cues From Last Session
Utilities, communication services, and industrials stocks recorded the biggest gains on Thursday, as most sectors on the S&P 500 closed on a positive note. However, information technology stocks bucked the overall market trend, closing the session lower.
| Index | Performance (+/-) | Value |
| Dow Jones | 1.62% | 49,652.14 |
| S&P 500 | 1.02% | 7,209.01 |
| Nasdaq Composite | 0.89% | 24,892.31 |
| Russell 2000 | 2.21% | 2,799.90 |
Insights From Analysts
In a recent market commentary, Brian Rehling analyzes the potential economic impact of Kevin Warsh, President Donald Trump’s pick for the new Federal Reserve chair. Rehling predicts a measured transition, stating, “We expect any shift in Fed policy under a new chair to be gradual.”
If Warsh successfully implements his vision, Rehling anticipates dual economic maneuvers: “the Fed could slowly lower short-term interest rates while also shrinking its balance sheet.”
This approach could ultimately “put upward pressure on longer-term interest rates over time.” Additionally, Warsh has signaled a desire to cut rates, particularly if “artificial intelligence boosts productivity and helps keep inflation in check.”
For investments, Rehling warns of potential turbulence as markets adjust. He cautions that “[b]ond prices – especially for longer-maturity bonds – may be more volatile as markets adjust to a smaller Federal Reserve footprint and less support from Fed bond holdings”. Despite these warnings, he reassures investors that “[we] do not expect these changes to happen all at once”.
Upcoming Economic Data
Here's what investors will be keeping an eye on Friday.
- April’s S&P U.S. manufacturing PMI will be released by 9:45 a.m., and April’s ISM manufacturing data will be out by 10:00 a.m. ET.
Commodities, Crypto, And Global Equity Markets
Crude oil futures were trading higher in the early New York session by 0.36% to hover around $105.45 per barrel.
Gold Spot US Dollar fell 1.11% to hover around $4,570.29 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.06% lower at the 97.9930 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 1.72% higher at $77,370.87 per coin, as per the last 24 hours.
Asian and European markets were mostly closed for Labor Day, while Australia's ASX 200 index rose.
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