5 Things to Know Before the Stock Market Opens

Futures are higher after the president of the New York Federal Reserve boosted hopes that the Fed could be in a position to cut interest rates again; bitcoin is extending a two-week slide that has pushed the cryptocurrency to its lowest levels since April; Nvidia shares are wavering in premarket trading after tumbling yesterday despite a stronger-than-expected earnings report; Gap shares are rising after the clothing retailer reported solid third-quarter results and boosted its outlook; and Intuit’s shares are rising after the TurboTax parent said AI is boosting its sales. Here’s what you need to know today.

Stock Futures Tick Higher at the End of a Volatile Week

Stock futures turned higher this morning after New York Fed president John Williams said that he seems room for the central bank to cut its benchmark interest rate again “in the near term.” Financial market participants have grown increasingly skeptical that the Fed could trim its benchmark rate for the third straight time at the December policy committee meeting, as Fed officials have expressed varying views in their public remarks recently. Futures tied to the Dow Jones Industrial Average, the benchmark S&P 500 and the tech-heavy Nasdaq were up 0.5% recently, rebounding from declines earlier in the premarket session. The major indexes closed sharply lower on Thursday amid lingering concerns about the sustainability of the AI trade, putting the S&P 500 and Nasdaq on track to post their biggest weekly losses since April. The yield on the 10-year Treasury note, which affects borrowing costs on all sorts of consumer loans, was at 4.07% recently, down from 4.10% at yesterday’s close. Gold futures were holding steady at around $4,060 an ounce.

Bitcoin Tumbles to Fresh 7-Month Low

Bitcoin is extending a two-week slide that has taken the digital currency to its lowest levels since April, as investors reassess their risk appetite amid the broader volatility in financial markets. Bitcoin was at $83,500 recently, up from an earlier low $80,500 but down from an overnight high of around $88,000. Crypto related stocks are also losing ground this morning. Shares of Strategy (MSTR), the largest corporate holder of bitcoin, were down 2%, while shares of crypto mining firm Mara Holdings (MARA) and crypto exchange Coinbase (COIN) also retreated. Bitcoin has had just two positive sessions since Nov. 10, when it closed the day at nearly $106,000.

Nvidia Stock Wavers as Fears of AI Bubble Persist

Nvidia (NVDA) shares bounced between losses and gains this morning after closing sharply lower yesterday despite reporting earnings that blew past Wall Street expectations. Analysts provided bullish comments after Nvidia’s report, but concerns persist about the possibility of an AI bubble. Many analysts said that Nvidia’s results should assuage the concerns that have weighed on the stock and the broader market recently. Others, however, noted that Nvidia’s ability to make money selling chips is not the main question; it’s whether the companies buying those chips will ever get a return on their massive AI investments. Nvidia shares were up about 1% in recent premarket trading, recovering from steep earlier losses along with the broader market.

Gap Shares Jump on Solid Results; CEO Sees Holiday Momentum

Gap (GAP) shares are surging ahead of the opening bell after the clothing retailer reported better-than-expected quarterly results. The company reported third-quarter sales of $3.94 billion and earnings of 62 cents per share, topping analysts’ estimates. Comparable store sales rose 5% from a year ago, also above estimates and a seventh straight quarter of comparable sales growth, the company said. CEO Richard Dickson said the company’s three largest brands—Gap, Old Navy and Banana Republic—are seeing strong momentum heading into the holiday season, leading the retailer to narrow its sales outlook to the high end of its previous range, and lift its forecast for operating profit margin. Gap shares were up about 7% in recent premarket trading.

Intuit Rises as Earnings Handily Top Estimates

Intuit’s (INTU) stock is gaining ground Friday, a day after the TurboTax parent beat estimates in its financial report for the first quarter of fiscal 2026. Intuit reported revenue of $3.89 billion and adjusted earnings of $3.34 per share, 25 cents higher than analysts had expected. Intuit CFO Sandeep Aujla said the company is seeing success with adoption of its AI features among its existing client base, and said the increasing automation is helping boost sales, per The Wall Street Journal. Intuit shares were up nearly 4% recently. Earlier this week, Intuit announced a partnership with OpenAI to integrate TurboTax into ChatGPT and give users financial and tax guidance.