Coinbase, Ross Stores, Applied Materials, Farfetch: What to Watch When the Stock Market Opens Today

Coinbase, Ross Stores, Applied Materials, Farfetch: What to Watch When the Stock Market Opens Today

U.S. stock futures declined, pointing to losses at the end of a week of choppy trading that saw major indexes pull back from records. Here’s what we’re watching ahead of Friday’s opening bell.

Ross Stores posted strong results yet its shares are fizzling premarket, down 4.6%. The clothing retailer said its profit jumped in the second quarter from a year earlier, helped by eased social-distancing measures, advancing vaccination rates and government stimulus payments.

But investors apparently still have a taste for luxury. Online luxury fashion retailer Farfetch jumped 2.5% premarket after it reported a 43% increase in revenue during the latest quarter.

Coinbase Global added 1.9% premarket. CEO Brian Armstrong said the cryptocurrency trading platform received board authorization to add $500 million in crypto to its balance sheet. He also said Coinbase would be investing 10% of all profits in crypto. Bitcoin was stable, edging down 0.2% from its 5 p.m. ET level on Thursday.

Applied Materials dropped 1.2% premarket, though the chip-making equipment manufacturer’s third-quarter performance beat Wall Street projections.

The glum