Pre-Bell｜US Stock Futures Rise Ahead Of Inflation Data; Cyngn Up 61%; Nike Up 10%; Core Scientific Up 7%

U.S. stock index futures surged on Friday, putting the S&P 500 and the Nasdaq on track for record highs as investors geared up for a key inflation report amid signs of a dovish policy outlook from the Federal Reserve this year.

Market Snapshot

At 07:45 a.m. ET, Dow E-minis were up 150 points, or 0.34%, S&P 500 E-minis were up 21.5 points, or 0.35%, and Nasdaq 100 E-minis were up 101.5 points, or 0.45%.

Pre-Market Movers

Nike reported fiscal fourth-quarter earnings that beat analysts' estimates but fell sharply from a year earlier. Sales in the quarter fell 12% to $11.1 billion but topped expectations of $10.7 billion. "While our financial results are in-line with our expectations, they are not where we want them to be," said Elliott Hill, Nike's new CEO, who added, however, that the sneaker and athletic apparel company "expects to improve as a result of the progress" it has been making under its turnaround strategy. The shares jumped 10% after Nike said it anticipates first-quarter revenue to decline in the mid-single digits year over year, a stark improvement from the fourth quarter's sales decline, and a better than the 7% drop analysts had been expecting.

Nvidia was up 0.5% in premarket trading. The maker of artificial-intelligence chips maintained its place as the largest company in the U.S. by market capitalization on Thursday, closing at a record $155.02, up 0.5%, and with a value of $3.782 trillion. Nvidia has closed higher for four straight sessions.

Cyngn shares jumped another 61% in premarket trading. The shares soared 171% on Thursday after the autonomous vehicle technology company was featured in a blog post by Nvidia.

Coinbase Global also set an all-time closing high on Thursday. The cryptocurrency exchange rose 5.5% to $375.07. It has gained 51% in 2025. In premarket trading, Coinbase was down 0.6%.

Palantir Technologies rose 0.7% in the premarket session. Shares of the data analytics company finished Thursday with a gain of 0.9% and set a record closing high of $144.25. Palantir has risen 91% this year, riding a frenzy of investing in the artificial-intelligence space.

Tesla was up 0.4%. The Wall Street Journal reported that Omead Afshar, a top lieutenant to CEO Elon Musk who just last year was placed in charge of sales and manufacturing operations in North America and Europe, left the electric-vehicle company. Tesla has been hit with falling sales in several markets, particularly in Europe and China.

U.S.-listed shares of Li Auto were down 2.9% after the Chinese EV maker lowered its second-quarter deliveries outlook to 108,000 vehicles from a prior outlook of 123,000 to 128,000 vehicles.

Concentrix Corp , the technology and services provider, posted fiscal second-quarter earnings that missed analysts' estimates on revenue of $2.42 billion that beat Wall Street estimates of $2.38 billion. The company expects third-quarter adjusted earnings of $2.80 to $2.91 a share versus analysts' expectations of $2.92. The stock fell 7.2%.

Shares of Core Scientific were up 7% after soaring 33% on Thursday following a report from The Wall Street Journal that said CoreWeave was in talks to acquire the digital-infrastructure company. The report cited people familiar with the matter. CoreWeave tried unsuccessfully last year to buy Core Scientific. CoreWeave rose 1.5% in premarket trading.

Market News

Meta may face daily fines over pay-or-consent model, EU warns

Meta Platforms META.O may face daily fines if EU regulators decide the changes it has proposed to its pay-or-consent model fail to comply with an antitrust order issued in April, they said on Friday.

The warning from the European Commission, which acts as the EU competition enforcer, came two months after it slapped a 200-million-euro ($234 million) fine on the U.S. social media giant for breaching the Digital Markets Act $(DMA)$ aiming at curbing the power of Big Tech.

China fashion retailer Shein to file confidentially for Hong Kong IPO in rare move, sources say

China-founded fast-fashion retailer Shein plans to file a draft prospectus confidentially for its Hong Kong listing, marking a rare departure from the usual practice of companies making public filings of IPO documents, three sources with knowledge of the matter said.

Shein aims to submit the filing confidentially as soon as this week, one of the sources said. A second source said the filing was expected to be made by Monday.