Stock futures were mixed up on Friday as investors waited for the monthly US The job report in a week that bond volatility sent the markets, especially soaring tech stocks, on a wild ride

Contracts related to the Dow Jones Industrial Average rose 25 points, S&P 500 futures rose 2 points and Nasdaq futures rose 7 points

The S&P 500 fell for the third straight Thursday and the tech-heavy Nasdaq fell 211% as government bond yields jumped after Federal Reserve Chairman Jerome Powell disappointed investors by failing More determined against rising inflation and the increased volatility of the bond markets The Nasdaq turned negative for the year

Powell said the recent surge in government bond yields caught his attention, but the central bank would be patient before changing policies even if inflation was ticking higher

“The market translation of” patient “is that patient does not mean” never “and that Powell indicates that easy money will come to an end at some point,” said Mike Loewengart, chief executive of investment strategy at E * Trade. p>

“While the idiom isn’t too far off the Fed’s previous stance, enough to move a nervous market south is safe assumption that the Fed won’t act anytime soon, but inflation is clearly in the crosshairs, “he added

Oil prices rose on Friday after members of the OPEC alliance agreed to keep crude oil production unchanged

The Senate, meanwhile, began debating President Joe Biden’s $ 1 $ 9 trillion stimulus bill that could approve the package – the nation’s sixth stimulus package in about a year since the pandemic began – this weekend

The US. Economic calendar for Friday includes the official US. Job Report for February at 8:30 a.m. ET Economists surveyed by FactSet are expecting the US. last month 175000 added, more than the disappointing increase from 49000 in January

Profit reports are expected on Friday from Big Lots (BIG) – Get Report and Hibbett Sports (HIBB) – Get Report

The VanEck Vectors Social Sentiment ETF (BUZZ), promoted by Barstool Sports founder Dave Portnoy, fell 36% on its Thursday debut, but rebounded more than 3% on the Friday leading up to trading >

The fund is made up of roughly 75 stocks – each with a minimum market cap of $ 5 billion – selected by an algorithm based on their positive sentiment on social media. It started trading on the New York Stock Exchange on Thursday

Shares in the fund, valued at approximately $ 438 million, changed hands on Thursday This makes it the third-best ETF debut of all time, according to Bloomberg

Jim Cramer of TheStreet said the ETF and its stock selection technique are “fascinating” and would likely shift many of the 75 names it contains if traders accept Portnoy’s call to invest

Costco (COST) – Get Report declined about 1% in premarket trading on Friday after the wholesaler’s profits missed analysts’ projections on costs related to workers with higher wages during the COVID-19 pandemic had

Costco’s second quarter earnings increased year over year to $ 951 million, or $ 214 a share, but the period included pre-tax charges of $ 246 million, or 41 cents per share, which increased based on the pandemic wages referred to by Costco as “Premium”

Revenue for the quarter rose 15% to $ 4477 billion, beating analysts’ expectations of $ 437 billion. Revenue in the same store rose 129%, excluding the impact of gasoline sales and currency fluctuations. Ecommerce revenue increased by 748%

“Overall, the quarter looks solid if some of the COVID-19-related costs are eliminated, which will be cut in half in the future as February comps remain high and membership income continues to grow steadily,” said Jim Cramer and the Action Alerts PLUS team has Costco in their portfolio “With inflation on everyone’s mind, the value of a Costco membership will never be higher as the company aims to be the last to raise prices and the first to raise prices to lower”Only a retailer with the size, scope and dedication of Costco can do this to customers”

Broadcom (AVGO) – Get Report fell nearly 2% in premarket trading on Friday after sales in the company’s main chip division missed Wall Street estimates

First quarter revenue for Broadcom’s Semiconductor Solutions business increased 74% to $ 491 billion, below a forecast of $ 493 billion

CEO Hock Tan told analysts on a conference call that chip revenue would grow approximately 17% in the second quarter of Broadcom’s fiscal year

Total revenue for the second quarter was forecast at $ 6.5 billion, higher than expected of $ 633 billion

“The bottom line is that this was a solid release, although some cannot pinpoint semiconductor sales or gross margins,” said Jim Cramer and the Action Alerts PLUS team that has Broadcom in their portfolio

“Even so, even Broadcom is not immune to the supply-side bottlenecks that are prevalent throughout the industry. We believe management is very good at navigating the area and communicating with both its suppliers and customers,” added the AAP- Team added

BUZZ ETF

World News – CA – Job Report, BUZZ ETF, Tech Stocks, Costco, Stimulus – 5 Things You Need To Know On Friday

Source: https://www.thestreet.com/markets/5-things-you-must-know-before-the-market-opens-friday-030521