Investing.com – U.S. futures fell on Friday as revenue forecast cuts from a number of companies and weak retail sales over the holidays threatened to derail Wall Street’s five-day rally as investors fear a possible recession.
The fell 2 points or 0.11% as of 6:40 AM ET (11:40 GMT) while lost 8 points, or 0.04%. Meanwhile tech heavy decreased 13 points, or 0.20%.
Stocks had risen earlier this week on indications that the Fed could pause its stance on policy tightening and optimistic trade negotiations from the U.S. and China. But weak holiday sales from Macy’s (NYSE:) and cuts in revenue forecasts from Apple (NASDAQ:) and American Airlines (NASDAQ:), among others, could wipe out earlier gains.
Meanwhile the government shutdown has become the longest in history and 800,000 Federal workers will miss their first paycheck of the year. U.S. President Donald Trump is at a standstill with Democrats over the shutdown, as he insists that the budget must include funding to build a wall on the U.S.-Mexico border.
(NYSE:) was among the top gainers in premarket trading, gaining 5.4% on news that it is issuing $15.5 billion worth of bonds with a 40-year maturity. Netflix (NASDAQ:) rose 2.4%, while Procter & Gamble Company (NYSE:) increased 0.4%. Apple Inc (NASDAQ:) was up 0.4% after it announced it is released three new iPhone models this year.
Elsewhere Pacific Gas & Electric (NYSE:) slumped 6.9% while Frontline (NYSE:) slipped 4.6% and Facebook (NASDAQ:) was down 0.5%. Activision Blizzard Inc (NASDAQ:) decreased 7.3% after it announced it was transferring publishing rights for its Destiny franchise to Bungie.
In economic news, the comes out at 8:30 AM ET (13:30 GMT).
In commodities, rose 0.4% to $1,292.35 a troy ounce, while rose 0.5% to $52.89 a barrel. The , which measures the greenback against a basket of six major currencies, fell 0.2% to 94.92.
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