5 things to know before the stock market opens

Futures rose after the head of the New York Fed raised hopes that the Fed may be in a position to cut interest rates again; Bitcoin continues its two-week decline, pushing the cryptocurrency to its lowest levels since April. Nvidia shares swing in premarket trading after falling yesterday despite stronger-than-expected earnings report; Gap shares are rising after the apparel retailer reported strong third-quarter results and boosted its outlook. Intuit shares are rising after parent company TurboTax said artificial intelligence is boosting its sales. Here’s what you need to know today.

Stock futures rise at the end of a volatile week

Stock futures rose this morning after New York Fed President John Williams said there appears to be room for the central bank to cut its benchmark interest rate again “in the near term.” Financial market participants have become increasingly skeptical that the Fed might cut interest rates for a third straight time at its policy committee meeting in December, with Fed officials expressing mixed views in their recent public statements. Futures tied to the Dow Jones Industrial Average, S&P 500 and tech-heavy Nasdaq rose 0.5% recently, rebounding from earlier declines in the pre-market session. Major indexes closed sharply lower on Thursday amid continuing concerns about the sustainability of artificial intelligence trading, putting the S&P 500 and Nasdaq on track to post their biggest weekly losses since April. The yield on the 10-year Treasury note, which affects borrowing costs on all types of consumer loans, was 4.07% recently, down from 4.10% at yesterday’s close. Gold futures settled at around $4,060 an ounce.

Bitcoin fell to its lowest level in 7 months

Bitcoin is continuing a two-week slide that has brought the digital currency to its lowest levels since April, as investors reevaluate their appetite for risk amid broader volatility in financial markets. Bitcoin price recently reached $83,500, up from a previous low of $80,500 but falling from an overnight high of around $88,000. Cryptocurrency-related stocks also lost ground this morning. Shares of Strategy (MSTR), the largest bitcoin holder, fell 2%, while shares of cryptocurrency mining company Mara Holdings (MARA) and cryptocurrency exchange Coinbase (COIN) also fell. Bitcoin has seen only two positive sessions since November 10, when it closed the day at nearly $106,000.

Nvidia shares fluctuate as fears of an artificial intelligence bubble persist

Nvidia (NVDA) shares bounced between losses and gains this morning after closing sharply lower yesterday despite reporting earnings that beat Wall Street expectations. Analysts made upbeat comments after Nvidia’s report, but concerns remain about the possibility of an AI bubble. Several analysts said Nvidia’s results should allay concerns that have weighed on the stock and the broader market recently. However, others pointed out that Nvidia’s ability to make money selling chips is not the main question; It’s about whether the companies that buy those chips will get a return on their huge investments in artificial intelligence. Nvidia shares rose nearly 1% in recent premarket trading, recovering from earlier steep losses along with the broader market.

Gap stocks jump on strong results; CEO sees holiday momentum

GAP (GAP) shares are rising before the opening bell after the apparel retailer reported better-than-expected quarterly results. The company reported third-quarter sales of $3.94 billion and earnings of 62 cents per share, beating analysts’ estimates. Comparable store sales were up 5% year-over-year, also above estimates and the seventh straight quarter of comparable sales growth, the company said. The company’s three largest brands — Gap, Old Navy and Banana Republic — are seeing strong momentum heading into the holiday season, CEO Richard Dixon said, prompting the retailer to narrow its sales forecast to the upper end of its previous range and raise its operating profit margin forecast. Gap shares rose about 7% in recent premarket trading.

Intuit rises as earnings easily top estimates

Intuit ( INTU ) stock gains on Friday, a day after parent company TurboTax beat estimates in its first-quarter fiscal 2026 financial report. Intuit reported revenue of $3.89 billion and adjusted earnings of $3.34 per share, 25 cents higher than analysts had expected. Sandeep Aujla, Intuit’s chief financial officer, said the company is seeing success with the adoption of its AI features among its existing customer base, and said increased automation is helping boost sales, according to The Wall Street Journal. Intuit shares have risen nearly 4% recently. Earlier this week, Intuit announced a partnership with OpenAI to integrate TurboTax into ChatGPT and give users financial and tax guidance.