Traders work on the floor of the New York Stock Exchange.
NYSE
Stock futures were mixed on Friday after a record-setting session, with two of the three major benchmarks on pace for their third consecutive weekly advance.
S&P 500 futures hovered just above the flatline, as Nasdaq-100 futures rose 0.2%. But Dow Jones Industrial Average futures edged lower, sliding 67 points, or 0.1%.
The S&P 500 on Thursday hit an intraday all-time high of 7,816.70. The benchmark also closed at a record. The tech and communication services sectors were among the big winners in the index, rising roughly 1% each.
"The market is appropriately bullish right now," Anastasia Amoroso, chief investment strategist at Partners Group, told CNBC's "Closing Bell" in an interview, noting the strength in U.S. corporate earnings.
With more than 90% of S&P 500 companies having posted second-quarter results, earnings growth from the year-earlier period is tracking around 50%, according to FactSet.
Amoroso also noted that software has "rallied and rebounded … I think the market came to the realization that maybe we did not appropriately price in those risks." Indeed, the iShares Expanded Tech-Software Sector ETF (IGV) is up around 28% over the past six months after tumbling more than 24% in the first quarter. IGV climbed more than 3% on Thursday.
The S&P 500 and Nasdaq Composite are headed for their third straight weekly advances. Heading into Friday's session, the former is up 0.5%, while the latter has advanced 0.4%. The Dow, meanwhile, is down 0.4% week to date.
Investors on Friday shrugged off retail sales numbers for July, which showed an unexpected decline on the month.
In Europe, the Stoxx 600 moved lower in morning trade and was last seen just below the flatline. The German DAX was up 0.6%, but the French CAC 40 and the U.K.'s FTSE 100 slipped almost 0.1% and 0.2%, respectively. In Asia, Japan's Nikkei 225 closed 0.59% higher, while South Korea's Kospi rose 2.42%. Australia's benchmark S&P/ASX 200 fell 0.80% and mainland China's CSI 300 closed flat.
Retail sales unexpectedly fell in July
July retail sales declined by 0.6% in July, a huge miss relative to the 0.1% increase economists polled by Dow Jones expected.
Excluding autos, sales fell 0.3%. Economists expected a 0.2% gain.
— Fred Imbert
JPMorgan upgrades Sandisk
Nikolas Kokovlis | Nurphoto | Getty Images
Sandisk has shot up sixfold in 2026 and still has room to run due to sky-high memory demand linked to the artificial intelligence boom, according to JPMorgan.
The investment bank upgraded the flash memory name to overweight from neutral. It also has a $2,250 price target on shares, implying 47% upside from Thursday's close.
"Following a period of restriction on Sandisk (SNDK), we are moving to an OW Rating," analyst Harlan Sur said Friday in a note to clients. "SNDK is in many respects uniquely positioned to capture the ongoing structural inflection in NAND demand driven by rapid growth in AI inference."
Shares of Sandisk have surged 544% year to date as an acceleration in AI adoption boosted demand for memory and storage — even creating supply constraints.
SNDK, year-to-date
CNBC Pro subscribers can read more here.
— Liz Napolitano
Reddit, Applied Materials and Wayfair among the stocks making moves before the bell
A trader wears a T-shirt with Reddit's logo at the New York Stock Exchange on March 21, 2024.
Brendan McDermid | Reuters
Check out the companies making the biggest moves premarket:
- Reddit — The social media platform surged 12% after S&P Dow Jones Indices said Reddit would join the S&P 500, starting Aug. 18. The company will replace AvalonBay Communities.
- Applied Materials — Shares lost more than 5% in premarket trading after the semiconductor manufacturing equipment maker posted Q2 results that failed to impress investors. The company earned an adjusted $3.50 per share on revenue of $9.12 billion. Sales within its key semiconductor systems division came in at $7.04 billion, only slightly above a FactSet consensus of $6.96 billion.
- Wayfair — The online furniture retailer gained 4% after getting an upgrade from Bernstein to outperform from market perform. ""In a furniture market that is not growing, Wayfair is putting up [high single-digit] revenue growth in the US," analysts at the firm wrote.
Read here for the full list.
— Fred Imbert
Here's the latest ahead of the opening bell on Wall Street
- Stock futures were mixed early Friday after a record-setting session on Thursday that saw the S&P 500 hit an intraday all-time high of 7,816.70.
- Oil prices rose early Friday after the U.S. said its naval blockade of Iranian ports could continue "indefinitely", reigniting concerns over energy flows through the critical Strait of Hormuz.
- Shares in Reddit jumped 12.9% in premarket trading as the company prepares to join the broad-based benchmark on Aug. 18.
- Investors will look to July retail sales figures at 8:30 a.m. ET.
— Joseph Wilkins
Applied Materials falls on earnings
Applied Materials lost more than 5% in premarket trading after the semiconductor manufacturing equipment maker posted Q2 results that failed to impress investors.
The company earned an adjusted $3.50 per share on revenue of $9.12 billion. Sales within its key semiconductor systems division came in at $7.04 billion, only slightly above a FactSet consensus of $6.96 billion.
Cash flow from operations did come in at $3.04 billion, well above a FactSet estimate of $2.13 billion.
— Fred Imbert
Nintendo shares pop 7% on ‘Pokémon Pokopia’ sales
Visitors play Pokémon Pokopia on Nintendo Switch 2 during the Pokemon Europe International Championships at ExCel London on February 13, 2026 in London, England.
John Keeble | Getty Images News | Getty Images
Nintendo shares closed 7% higher in Japan on Friday after it disclosed sales of its viral game "Pokémon Pokopia."
The Japanese giant said on Thursday that sales of "Pokémon Pokopia" surpassed 5 million units on its flagship Switch 2 console.
Investors watch updates of game sales closely because hit titles can often drive shipments of Nintendo's console, which has faced some headwinds.
AI’s infrastructure boom is getting more leveraged — and harder to track
As Nvidia partners with Wall Street firms to mobilize more than $500 billion of third-party capital for AI infrastructure, the increasingly complex financing underpinning the boom is coming under closer scrutiny.
Hyperscalers and their financial backers are turning to bond markets, joint ventures, leases and other structures to fund an unprecedented infrastructure buildout. At the same time, leverage is increasing investors' AI exposure, as hedge funds and other investors use prime brokerage borrowing and derivatives to amplify returns on their bets on the boom.
Treasury yields rise as U.S. threatens Iran with more economic sanctions
Scott Bessent, US treasury secretary, gives remarks during the launch of the "Fostering the Future Accounts" at the US Treasury Department in Washington, DC, US, on Thursday, June 11, 2026.
Aaron Schwartz | Bloomberg | Getty Images
U.S. Treasury yields rose on Friday after the U.S. said its naval blockade of Iranian ports could continue "indefinitely".
The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — rose 2 basis points to 4.661%.
The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, rose over 1 basis point to 4.152%. The longer-dated 30-year Treasury bond yield rose over 2 basis points to 5.237%.
— Joseph Wilkins
Oil moves higher as U.S. threatens ‘economic isolation’ of Iran
Oil prices rose early Friday after the U.S. said its naval blockade of Iranian ports could continue "indefinitely", reigniting concerns over energy flows through the critical Strait of Hormuz.
Brent futures, the international oil price benchmark, were 0.96% higher at $87.91 per barrel by 2:55 a.m. E.T., while U.S. West Texas Intermediate (WTI) crude futures added 1.08% to reach $82.13.
Both benchmarks dipped 2% in Thursday's session, but remain on track for weekly rises of around 4% following a sustained rally.
South Korea's Kospi advances 2.4%, Japan stocks also gain
Japan's Nikkei 225 closed 0.59% higher at 68,713.80, while South Korea's Kospi rose 2.42% to 6,977.94.
Both indexes were supported by gains in tech stocks. Samsung and SK Hynix, which are Kospi heavyweights, rose 2.43% and 3.26%, respectively. Over in Japan. SoftBank advanced 2.94%, Advantest gained 2.6% and Nintendo rose 6.91%.
Australia's benchmark S&P/ASX 200 fell 0.80% to 9,115.20.
Hong Kong's Hang Seng index was down 1.06% in the last hour of trade on Friday, while mainland China's CSI 300 closed flat at 4,665.88.
— Justina Lee
Stock markets in Europe start the day in mixed territory
Germany, Hesse, Frankfurt am Main, Börsenviertel, Börsenplatz at the Frankfurt Stock Exchange, the bull & bear statues symbolize the falling and rising of the stock market.
Manfred Gottschalk | Stone | Getty Images
The pan-European Stoxx 600 was up almost 0.1% after 8:00 a.m. in London (3:00 a.m. E.T.).
Most sectors in Europe were in positive territory. Media stocks led early gains, up 1.15%, followed by travel and leisure names, which added 0.62%, as retail gained 0.53%.
On the downside, metals and mining stocks slipped 1.37% in early dealmaking.
The continent's major bourses were mixed. Germany's DAX advanced 0.63% in Frankfurt. The French CAC 40 was just below the flatline in Paris, while the U.K. FTSE 100 was flat. In Milan, the Italian FTSE MIB shed 0.24% in early trade.
— Hugh Leask
European stocks move higher ahead of Friday's market open
Europe's stock markets are set to end the week on a positive note, with futures tied to the Stoxx 50 benchmark rising 0.3% ahead of the market open.
Germany's DAX is seen opening 0.39% higher, with the U.K. FTSE 100 expected to start Friday's session up 0.29%. The Italian FTSE MIB stood at 0.15% ahead of the opening bell, with the French CAC 40 up almost 0.1%.
— Hugh Leask
Yen hovers above 159 against the dollar as intervention gains unravel
The Japanese yen strengthened against the greenback on Friday, appreciating 0.2% to 159.29 per dollar.
Despite the historic U.S.-Japan intervention about two weeks ago, the yen remains under pressure from elevated oil prices and higher Treasury yields, with macro forces moving in favor of the dollar.
The yen stays near the key psychological level of 160, raising questions over the impact of the market intervention, with Japanese Prime Minister Sanae Takaichi's government reportedly now supportive of an interest-rate hike.
— Justina Lee
Oil prices little changed as U.S. threatens ‘indefinite’ blockade of Iran
The VLCC Mobassa B (previously named Front Forth), one of the two tankers which the UAE defence ministry said was struck by Iranian cruise missiles while transiting the Strait of Hormuz, in Rotterdam, Netherlands, August 18, 2024, in this picture obtained by Reuters on July 14, 2026.
Edwin van Werd | via Reuters
Oil prices were little changed Friday as investors weighed renewed U.S. threats against Iran and the prospect of a prolonged naval blockade against concerns over weakening global demand.
Brent crude futures, the international benchmark, held steady at $86.99 per barrel. U.S. West Texas Intermediate crude was similarly flat at $81.26 per barrel.
The U.S. will be applying economic measures "that have never been seen on Iran," according to Treasury Secretary Scott Bessent.
His statements come as U.S. Defense Secretary Pete Hegseth reportedly said late Thursday stateside that the U.S. military can keep a naval blockade of Iran going "indefinitely." The Navy will rotate ships in and out "as we have, and we'll continue to," Hegseth told reporters.
— Lee Ying Shan and Lim Hui Jie
Hong Kong shares fall, mainland China's CSI 300 trades flat
Mainland China and Hong Kong indexes were mixed Friday, bucking broad gains in other Asia markets.
Hong Kong's Hang Seng index was down 0.93%, while mainland China's CSI 300 was flat.
The declines in Hang Seng were led by healthcare and academic services sectors, down 1.11% and 1.06%, respectively.
— Justina Lee
Asian tech stocks rise, tracking U.S. stock gains
Asian technology stocks rose Friday, tracking broad gains in U.S. tech amid lower oil prices and a flat producer price inflation reading, which supported risk-on sentiment.
In Japan, SoftBank Group advanced 5.08%, while chip equipment maker Tokyo Electron added 2.13%. Advantest added 4.02%, and Japanese memory chipmaker Kioxia rose 3.87%.
In South Korea, SK Hynix gained over 6%, while Samsung Electronics was 2.05% higher.
Tech stocks have been seeing heightened volatility, with South Korea's semiconductor-heavy market whipsawing between record gains and steep losses.
— Justina Lee
South Korea's Kospi rises 2.5% at open, Japan's Nikkei also gains
Asia-Pacific markets opened broadly higher early Friday, tracking Wall Street gains overnight.
Japan's Nikkei 225 added over 0.75% while the Topix rose 0.23%.
South Korea's Kospi advanced 2.54% at open, while the small-cap Kosdaq gained 1.10%.
Australia's benchmark S&P/ASX 200 was 0.63% lower.
— Justina Lee
Japan's Nikkei 225 set to open higher, tracking Wall Street peers
Japan's Nikkei 225 was poised to rise at open, with the Chicago futures contract at 69,350 and its Osaka counterpart last trading at 69,140, compared with the index's previous close of 68,308.59.
Hong Kong's Hang Seng index futures were at 25,214, lower than the index's last close of 25,396.51.
Futures for Australia's S&P/ASX 200 last traded at 9,091, while the index closed at 9,188.50.
The S&P 500 hit a new all-time intraday high Thursday as oil prices fell and investors assessed inflation data.
Meanwhile, tensions between the U.S. and Iran continue to simmer. The U.S. Central Command said in a post on X that it has launched "the first-ever multi-domain, multinational attack drone task force," nine months after its first dedicated one-way attack drone squadron in the Middle East.
— Justina Lee
Reddit to join the S&P 500, shares rise
The New York Stock Exchange welcomes Reddit to celebrate its initial public offering. To honor the occasion, Snoo rings the opening bell.
NYSE
Social media forum Reddit will join the S&P 500 starting on Aug. 18.
Shares surged 10% in after-hours trading.
Reddit in the past day
Reddit has been having a rocky year, off 31% year to date.
The company will replace AvalonBay Communities, a real estate investment trust with a portfolio of apartments.
Equity Residential is set to acquire AvalonBay, and the combined company will continue to trade on the S&P 500, though under its new name Vivmark Residential.
— Darla Mercado
Number of bullish individual investors decline in latest AAII weekly survey
The percentage of mom-and-pop investors who are bullish about the outlook for stocks over the next six months narrowed to 34.7% from 37.0% in the latest weekly survey by the American Association of Individual Investors, below the historical average of 37.5%.
Bearish investors were little changed at 37.9% this week vs. 38.0% last week, still far above the long-term historical average of 31.5%.
Those investors who count themselves as neutral about the outlook for stocks widened to 27.4% from 25.0% last week, below the historic average of 31.0%.
The survey is regarded as a contrarian indicator, with extreme bullish readings signaling that investors may have mostly finished buying and have little cash left in reserve, and extreme bearish readings interpreted as meaning most selling is done and there's plenty of cash available to put to work in stocks.
— Scott Schnipper
Market factoids heading into Friday's session
The Dow had its first positive day in four on Thursday. The S&P 500 and Nasdaq posted back-to-back daily gains for the first time since Aug. 4. The S&P 500 also had its best day since Aug. 4.
Seven of the 11 S&P sectors gained during the day, with communication services leading, up 1.6%. Materials lagged, losing 0.7%.
Week to date, the Dow is lower, on track for its first negative week in three. Meanwhile, the S&P 500 and Nasdaq are higher, on track for their third straight positive week. This would be the first three-week win streak for the S&P 500 since May 29 and for the Nasdaq since May 8.
So far this week, eight of the 11 S&P sectors are higher, with energy outperforming, up 5.9%. Consumer discretionary is lagging week to date, down 1.6%.
— Brianna Bernath