Pre-Bell｜Wall St Futures Rise; NEXTracker Surged 14%; Intel Jumped 7%; Deckers Dropped 12%; Newmont Tumbled 7%

Futures tracking Wall Street's main indexes ticked up on Friday, fueled by Intel's earnings, while investors braced for a high-stakes inflation report that could hurt the chances of a December rate cut.

Market Snapshot

At 07:44 a.m., Dow E-minis were up 67 points, or 0.14%, Nasdaq 100 E-minis were up 115.25 points, or 0.46%, and S&P 500 E-minis were up 20 points, or 0.3%.

Pre-Market Movers

Intel shares jumped 7% in premarket trading. The chip maker reported third-quarter adjusted earnings of 23 cents a share, topping analysts' estimates of 2 cents, as revenue rose 3% from a year earlier to a better-than-expected $13.7 billion on strong demand for PC processors. Chief Financial Officer David Zinsner told Barron's that demand for PCs has been stronger than the company expected as corporations upgrade computers to move to the current version of Microsoft Windows. Intel forecast fourth-quarter revenue of $12.8 billion to $13.8 billion, versus consensus of $13.4 billion. Intel's guidance excludes Altera, following Intel's sale of a majority ownership in the third quarter.

Shares in Deckers Outdoor dropped 12%. The maker of Hoka sneakers and Ugg boots posted fiscal second-quarter earnings that improved from a year earlier and beat analysts' expectations, but issued a fiscal-year forecast that disappointed. Deckers expects fiscal-year earnings of $6.30 to $6.39 a share on sales of about $5.35 billion. Analysts anticipate earnings of $6.33 a share on sales of $5.46 billion. Deckers had withheld its outlook earlier this year because of macroeconomic uncertainty.

General Dynamics Corp on Friday posted a nearly 16% rise in third-quarter profit on the back of strong business jet deliveries. The Gulfstream jet maker's quarterly profit came in at $3.88 per share, compared with $3.35 per share a year ago. Shares of the defense major rose 2% before the bell.

Procter & Gamble on Friday beat Wall Street estimates for first-quarter revenue and profit, helped by strong demand for its beauty and hair-care products amid higher prices and a broader slowdown in spending due to economic uncertainties. Procter & Gamble shares rose 3% in premarket.

Ford gained 3% after the car maker posted a third-quarter operating profit of $2.6 billion on record sales of $50.5 billion, beating Wall Street forecasts on both metrics. Ford expects 2025 operating profit of between $6 billion and $6.5 billion, which includes $1.5 billion to $2 billion in lost production and higher sourcing costs from a fire at an aluminum supplier. The company also said it planned to boost F-series production volume by more than 50,000 trucks in 2026, creating 1,000 jobs.

Newmont Mining tumbled 7% in the premarket session. The gold miner posted third-quarter adjusted earnings of $1.71 a share, topping Wall Street expectations of $1.44. Revenue rose 20% to $5.52 billion and also beat forecasts as gold prices surged in the period. The selloff on Friday could be tied to a recent drop in gold prices, with investors opting to take profits after a long rally.

Alphabet rose 1.5% after Google and Anthropic announced a deal worth tens of billions of dollars, which will give Anthropic access to up to 1 million Google chips.

NEXTracker Inc, the designer and manufacturer of solar tracking systems, jumped 14% after reporting better-than-expected second-quarter adjusted earnings and revenue and raising fiscal 2026 revenue guidance. Nextracker said it expects fiscal-year revenue of $3.275 billion to $3.475 billion, up from prior guidance of $3.2 billion to $3.45 billion. The company also formed a joint venture in Saudi Arabia to accelerate solar-technology adoption in the Middle East.

Shares in Norfolk Southern ticked up 0.7% after the railroad company reported better-than-expected profit and raised its cost savings target for 2025.

VeriSign fell 1% ahead of the opening bell after the domain name registry services provider reported that its profit and revenue had risen from a year ago.

Market News

Trump Says He Is Terminating Trade Negotiations With Canada

President Trump said late Thursday he was terminating trade negotiations with Canada, pointing to a television advertisement sponsored by the Ontario government that features the voice of Ronald Reagan as he speaks negatively about tariffs.

“Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED,” Trump wrote on social media shortly before 11 p.m.

JPMorgan to Allow Bitcoin and Ether as Collateral in Crypto Push

JPMorgan Chase & Co. plans to allow institutional clients to use their holdings of Bitcoin and Ether as collateral for loans by the end of the year in a significant deepening of Wall Street’s crypto integration.

The program, offered globally, will rely on a third-party custodian to safeguard the pledged tokens, according to people familiar with the matter. It builds on JPMorgan’s earlier move to accept crypto-linked ETFs as collateral.