U.S. stock futures opened lower Thursday as investors absorbed the tone of the Federal Reserve's recent meeting minutes and the latest tranche of corporate earnings. Market participants reacted unevenly across sectors, with retailers and digital marketplaces experiencing sharp swings and industrial and energy names posting gains after upbeat company updates.
Summary
Equities were mixed in premarket trading following hawkish commentary in Fed minutes and several earnings reports. Retailer Walmart trimmed its near-term earnings outlook and flagged substantial uncertainty, sending its shares lower. Deere raised its full-year net income forecast, boosting its stock, while several online platforms and delivery companies recorded large premarket moves tied to results and strategic announcements.
Notable premarket movers
- Walmart (WMT): The retail giant's stock declined 2.9% after its current-year income forecast came in below expectations. Management warned of "substantial uncertainty" related to currency swings, tariffs, customer spending and global events.
- Deere & Company (DE): Shares rose 5% after the farm-equipment manufacturer raised its full-year net income outlook. The company cited the cushioning effects of earlier cost reductions amid softer equipment demand.
- Carvana (CVNA): The online used-car retailer tumbled 12% after reporting fourth-quarter profit that missed expectations, with the company noting higher-than-anticipated costs.
- Etsy (ETSY) and eBay (EBAY): Etsy jumped 20% after announcing the sale of Depop, the second-hand clothing app, to eBay, whose stock rose 8.7%, for $1.2 billion.
- Wayfair (W): The online home furnishings seller fell 9% despite reporting fourth-quarter earnings that beat forecasts; investors appeared unconvinced by the company's results and outlook.
- DoorDash (DASH): The delivery platform surged 10% after forecasting first-quarter marketplace gross order value above expectations, supported by steady demand and expansion in grocery, retail and international operations.
- Hims Hers Health (HIMS): Shares rose 6.4% after the U.S. telehealth company said it will acquire Australian digital health firm Eucalyptus in a deal valued at up to $1.15 billion, aiming to expand its personalized care offerings internationally.
- Figma (FIG): The design software firm gained 10% after reporting quarterly results and a 2026 sales outlook that exceeded expectations.
- Occidental Petroleum (OXY): The U.S. shale producer climbed 4.7% after beating fourth-quarter profit expectations despite pressured oil prices.
Key points
- Macroeconomic tone - Market participants are weighing hawkish signals from recent Fed minutes alongside mixed corporate earnings, contributing to uneven sector performance.
- Retail and marketplaces - Retailers and online marketplaces showed significant volatility, with several names moving sharply on guidance, strategic transactions and earnings.
- Industrial and energy resilience - Deere and Occidental posted gains after better-than-expected profit guidance or results, reflecting company-level resilience in their sectors.
Risks and uncertainties
- Guidance and outlook risk - Companies such as Walmart signaled substantial uncertainty in near-term forecasts, which could create continued volatility in consumer and retail stocks.
- Cost pressures - Higher-than-expected costs pressured Carvana's profit, highlighting execution and margin risks in the automotive retailing sector.
- Investor reaction to results - Even when earnings beat estimates, as with Wayfair, investor response can be negative if expectations on outlook or performance are not met, indicating sensitivity in technology-enabled retail segments.
Conclusion
Premarket action reflected a market balancing act between central bank signals and company-specific news. Some firms benefited from improved guidance or transactions, while others saw shares slip after cautious forecasts or cost pressures. The varied responses across sectors underscore the market's focus on both macro developments and individual corporate trajectories.