US Premarket – Futures Rise Ahead of GDP and PCE

US futures are flat this Friday morning as investors await major macroeconomic data, including the first estimate of Q4 GDP and the PCE index, the Fed’s preferred inflation gauge.

Bond markets remain stable:

US10Y: 4.08%
US2Y: 3.48%
US30Y: 4.70%

Stable yields reflect a wait-and-see stance ahead of today’s key data.

Economic Data to Watch

Q4 GDP (Initial Estimate)

Expected growth: +2.8%
Q3: +4.4%

A slowdown is anticipated, but growth should remain solid.

Personal Income & Outlays (December, delayed release)

Spending: +0.3%
Income: +0.3%
Core PCE: +0.3%

The Core PCE, a key indicator for the Fed, will be crucial for monetary policy expectations.

Top Premarket Gainers

Opendoor Technologies (OPEN): +14%
- Q4 revenue and adjusted EBITDA beat expectations
- +46% Q/Q homes purchased
- Improvement in inventory turnover and reduced capital intensity
- Target: positive adjusted net income over 12 months by end-2026
- However, weak Q1 forecast (~$662M, -10% sequentially) and negative EBITDA expected
AppLovin (APP): +6.12%
Comfort Systems USA (FIX): +5.64%
Live Nation Entertainment (LYV): +3.51%

Top Premarket Decliners

GRAIL (GRAL): -47%

Massive drop after missing the primary endpoint in the NHS-Galleri trial (no statistically significant reduction in stage III-IV cancers).
Despite encouraging signals for certain high-mortality cancers, the market is punishing the stock hard.