Dow futures are little changed as traders prepare for another U.S. inflation report: Live updates

With just Friday’s trading session left in the week, just the Dow is on track to see wins.

The 30-stock index is up 0.3% week to date. Meanwhile, the Nasdaq Composite and S&P 500 have lost 1.2% and 0.2%, respectively.

It would mark the second straight week of losses for both indexes. That weekly streak length would be a first for the Nasdaq since the period of four straight down weeks that ended in December 2022.

— Alex Harring

European markets opened lower Friday as investors continue to digest earnings and the latest U.S. inflation data.

The pan-European Stoxx 600 index was down 0.5% in the first minutes of trading, with all sectors opening in negative territory. Mining stocks led losses with a 1% downturn, followed by oil and gas and autos, which both dropped 0.9%.

— Hannah Ward-Glenton

Singapore’s Straits Times Index fell 1.22% on Friday after the country’s trade and industry ministry trimmed its gross domestic product outlook for 2023.

The full year forecast was narrowed from the range of 0.5% to 2.5% to 0.5% to 1.5%. The STI losses were mainly due to financial and technology stocks, with DBS Group Holdings the largest loser.

The Singapore dollar was little changed strengthening 0.01% to trade at 1.3491 against the greenback.

— Lim Hui Jie

Shares of Chinese real estate company Country Garden Holdings slid to an all time low after the company issued a profit warning late Thursday.

In a filing, the company said that it is expected to record a net loss of about 45 billion ($6.26 billion) to 55 billion yuan for the six months ending June, compared with the 1.91 billion yuan profit for the same period last year.

Country Garden noted this was mainly due to the fall in gross profit margin of its real estate business and the increase in impairment of property projects as a result of the decline in sales in the property sector.

The company saw a sell off this week after it reportedly was not able to make $22 million of U.S. dollar bond coupon payments on time over the weekend.

Hong Kong listed shares of Chinese tech giant Alibaba jumped over 3% after the company posted a 51% rise in attributable profit and a 14% increase in revenue year on year for the three months ended June.

That’s the biggest annual increase in sales since the September 2021 quarter, according to Refinitiv data.

Hangzhou-headquartered Alibaba has been undergoing major changes in recent months, including splitting the company into six business groups and organizational reshuffles.

Current CEO and Chairman Daniel Zhang will be stepping down in September, but remains head of Alibaba’s cloud computing business, as it pushes toward a public listing. Alibaba veteran Eddie Wu will succeed him as CEO, and Joe Tsai will take over as chairman, the company said in June.

“Alibaba delivered a solid quarter as we continue to execute our reorganization, which is beginning to unleash new energy across our businesses,” Zhang said in a release Thursday.

— Arjun Kharpal, Lim Hui Jie

Singapore’s trade and industry ministry narrowed the growth forecast from 0.5% to 1.5% for 2023, down from its previous forecast of 0.5% to 2.5%.

The city-state posted a 0.5% year-on-year growth in the second quarter, extending the 0.4% growth in the previous quarter. The figure was revised down from a 0.7% advance estimate released in July.

On a quarter-on-quarter seasonally-adjusted basis, the economy expanded marginally by 0.1%, a reversal from the 0.4% contraction in the first quarter of 2023.

— Lim Hui Jie

The FANG+ stocks, which include the biggest names in the technology sector, are on track to end the week in the red.

The First Trust Dow Jones Internet Index Fund is down 1.21% for the week, and its second consecutive negative week.

— Hakyung Kim, Chris Hayes

Check out the stocks making the biggest moves after the bell.

Savers Value Village — Shares of the second-hand merchandise retailer added 3.8% after its second-quarter results beat analyst expectations. The company posted $379.1 million in revenue. Analysts polled by Refinitiv had estimated revenue of $375 million.

MercadoLibre — The Latin America-based e-commerce platform’s stock tumbled more than 3% Thursday during post market trading. Shares gained more than 5% and reached a new 52-week high during the main trading session. MercadoLibre appointed a new CFO Thursday after the bell.

Illumina — Shares declined 1.1% after the company disclosed in a regulatory filing that the U.S. Securities and Exchange Commission is conducting an investigation over its acquisition of cancer test developer Grail.

— Hakyung Kim