Stocks were set for a higher open as economic data overseas beat expectations.
Futures on the Dow Jones Industrial Average gained 180 points, or 0.5%, while S&P 500 futures rose 0.5% and Nasdaq Composite futures advanced 0.4%. The 10-year Treasury yield, which usually rises and falls with expectations for economic demand and inflation, rose to 1.3% from 1.25%.
The European Union Purchasing Managers Index was 60.06, better than the expected 60. Retail sales in the U.K. were up 0.5%, higher than the anticipated 0.4% increase.
“Futures are moderately higher thanks to solid economic data,” writes Tom Essaye, founder of Sevens Report Research.
Here are five stocks making moves in Friday’s premarket action:
Snap (ticker: SNAP) stock rose 17% after reporting a profit of 17 cents a share, beating estimates for a loss of 1 cent a share, on sales of $982 million, above expectations for $846 million.
Twitter (TWTR) stock rose 4.5% after reporting a profit of 20 cents a share, beating estimates of 7 cents a share, on sales of $1.2 billion, above expectations for $1.1 billion.
American Express (AXP) stock rose 3.7% after reporting a profit of $2.80 a share, beating estimates of $1.63 a share, on sales of $10.24 billion, above expectations for $9.6 billion.
Starbucks (SBUX) stock rose 1.3% after getting upgraded to Outperform from Neutral at Baird.
Boston Beer Co. (SAM) stock fell 20% after reporting a profit of $4.75 a share, missing estimates of $6.60, on sales of $603 million, below expectations for $676 million.
Write to Jacob Sonenshine at [email protected]
