US Stock Market Update

US stock futures were broadly muted on Friday as investors awaited various economic data, including new consumer spending figures and the Federal Reserve’s preferred inflation gauge.

By 06:31 ET (10:31 GMT):
– Dow Futures: Mostly unchanged
– S&P 500 Futures: Down 5 points (0.1%)
– Nasdaq 100 Futures: Down 43 points (0.2%)

Major Premarket US Stock Movers:

Costco (NASDAQ:COST)

Costco reported fiscal fourth-quarter revenue disappointing analysts’ estimates, affected by reduced spending on big-ticket items and lower gasoline prices. Shares dipped by 1.4% in premarket trading but have gained approximately 38.5% this year.

Bristol-Myers Squibb (NYSE:BMY)

Bristol-Myers Squibb shares surged after US regulators approved a new schizophrenia drug, Cobenfy, without a warning on higher mortality risk for elderly patients, boosting support for the stock.

Cassava Sciences (NASDAQ:SAVA)

Cassava Sciences shares fell as the drugmaker and former executives agreed to pay over $40 million to settle federal claims of issuing misleading statements regarding an Alzheimer’s drug trial.

Dollar General (NYSE:DG)

Dollar General shares dropped following a Citi report that highlighted market share gains made by rival Walmart (NYSE:WMT), which could pressure the firm.

HP Inc. (NYSE:HPQ)

HP Inc. shares declined as Bank of America downgraded the company’s rating to “Neutral” from “Buy” due to concerns about its print division.

Udemy (NASDAQ:UDMY)

Udemy’s stock slipped after Morgan Stanley lowered its rating to “Underweight,” warning of weak demand.

Wynn Resorts (NASDAQ:WYNN)

Wynn Resorts shares rose after Morgan Stanley upgraded the outlook to “Overweight,” citing lower valuation and opportunities in the UAE.

Establishment Labs (NASDAQ:ESTA)

Establishment Labs shares surged after receiving US approval for its Motiva breast implants.