US stock futures hover near record levels as strong economic indicators offset Netflix’s earnings miss. Key movers include 3M, Chevron, and graphite stocks amid tariff changes.
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Stock Market Today: Dow, S&P 500, Nasdaq Futures Pause After March to Latest Records
US stock futures remained flat on Friday morning, as investors digested a mix of strong economic signals and lackluster earnings from Netflix. The S&P 500 (ES=F), Dow Jones Industrial Average (YM=F), and Nasdaq 100 (NQ=F) all hovered just above the flatline, consolidating after a major run-up to record highs.
Economic Strength Cushions Market Calm
Markets took a breather after Thursday’s historic close, where the S&P 500 and Nasdaq Composite both set new all-time highs. A decline in jobless claims and better-than-expected retail sales painted a picture of resilient consumer spending — despite ongoing concerns over President Trump’s tariffs.
The strength of the economy appeared to offset concerns sparked by Netflix’s underwhelming second-quarter report. Though the streaming giant beat earnings and revenue expectations, its guidance left investors wanting more, pulling the stock down roughly 1% in premarket trading.
“Investors were looking for a stronger upward revision to full-year forecasts, especially given Netflix’s lofty valuation,” analysts noted.
Corporate Earnings Front and Center
Markets are now squarely focused on corporate earnings. On Friday, 3M (MMM) impressed with a beat on both earnings and revenue. The stock jumped over 2% premarket, and the company raised its full-year profit forecast while cutting the projected tariff hit in half.
Chevron (CVX) and Hess (HES) also drew attention after winning an arbitration battle against Exxon (XOM), clearing the path for a $53 billion acquisition. Chevron’s stock rose over 3%, and Hess jumped 7%.
Meanwhile, Charles Schwab (SCHW) and American Express (AXP) are among the major names reporting today.
Tariffs Fuel Battery Material Stock Surge
The Commerce Department’s preliminary decision to impose a 93.5% anti-dumping duty on graphite imports from China sent battery material stocks soaring. Graphite is a critical component in EV batteries, and the move is seen as a protective step for domestic manufacturers.
- Syrah Resources jumped 38%
- Posco Future M rose 24%
- Novonix Ltd surged 21%
- Nouveau Monde Graphite Inc. gained nearly 26%
The final decision on the duties is expected by December 5.
Political Drama Recedes—For Now
After a fiery week involving President Trump and Fed Chair Jerome Powell, political tensions appear to have eased — temporarily. Powell defended the Fed’s renovation project and now eyes turn to speculation around who might replace him in 2026.
The broader question remains: can the Fed maintain its independence while navigating Trump’s economic expectations?
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Frequently Asked Questions (FAQ)
Q1: Why did the stock market pause after recent highs?
A: After a strong rally, investors are pausing to assess economic data and earnings results. Friday’s session reflected profit-taking and cautious sentiment ahead of more earnings reports.
Q2: Why did Netflix stock drop despite strong earnings?
A: Netflix beat earnings and revenue expectations, but its forward guidance wasn’t strong enough to satisfy investors who had priced in high growth expectations.
Q3: What caused battery material stocks to surge?
A: The U.S. announced a 93.5% anti-dumping duty on graphite imports from China, favoring domestic and allied graphite producers critical for EV battery supply chains.
Q4: What companies are being closely watched this earnings season?
A: Key names include 3M, Chevron, American Express, Charles Schwab, and Netflix — all with varying market impacts based on earnings surprises and guidance.
Q5: Is the Fed facing political pressure?
A: Yes, Trump has criticized Fed Chair Powell, and there’s rising speculation about Powell’s replacement. The Fed must balance political dynamics while maintaining economic stability.
