5 things to know before the stock market opens

Stock futures were mixed on Friday, as concerns about cracks in the credit market weighed on investor sentiment after Zions Bancorp (ZION) announced yesterday that it would be forced to write off millions in fraudulent loans. Gold continues to hit record highs as investors turn to the traditional safe haven amid stock market volatility, while Bitcoin is trading at its lowest levels since June; The Trump administration is reportedly set to offer tariff relief on imports of auto parts; Shares of Novo Nordisk (NVO) and Eli Lilly (LLY) fell after President Donald Trump said weight loss treatments should be much cheaper. Here’s what you need to know today.

1. Stock futures were mixed amid concerns about banking sector pressures

Stock futures point to a mixed open after major indexes fell on Thursday amid growing concerns about bank lending standards and stress in credit markets. Futures tied to the Dow Jones Industrial Average rose 0.2% recently, while futures tied to the S&P 500 were flat and Nasdaq futures fell 0.2%. Futures were down sharply earlier this morning. The stock market suffered a volatile week of trading amid growing uncertainty over the economic outlook and fears of an artificial intelligence bubble forming. However, both major indices enter Friday’s session with weekly gains of more than 1%.

2. Gold continues to rise, Bitcoin declines

Gold prices hit another record high this morning as investors continue to buy the precious metal amid a flight to safety. Gold futures reached $4,320 an ounce recently, after rising to nearly $4,400 earlier. Meanwhile, Bitcoin (BTCUSD) price reached $105,600, down from an overnight high of around $109,000. The digital currency, which hit a record high of $126,000 early last week, fell to $103,500 this morning, its lowest level since June. The yield on the 10-year Treasury note, which affects mortgage rates and a variety of other consumer loans, was slightly higher at 4.00% recently, after falling to 3.94% this morning, its lowest level since April.

3. Regional bank stocks focus on concerns about bad loans

Regional bank stocks remain in the spotlight after falling yesterday following news that Zions Bancorp (ZION) wrote off $50 million in fraudulent loans made to two borrowers. The revelation came after the recent bankruptcy of two companies in the automotive sector – car dealer Tricolor and auto parts manufacturer First Brands – which highlighted potential risks in the credit market. Earlier this week, JPMorgan CEO Jamie Dimon highlighted the issue during the bank’s post-earnings conference call. “Maybe I shouldn’t say this, but when you see one cockroach, there’s probably more,” Damon said. Several regional banks will release their quarterly results this morning, and investors are paying attention to what they have to say about exposure to bad loans. Zion Bancorp shares rose 4% in recent premarket trading, after falling 13% yesterday. The SPDR S&P Regional Banking ETF (KRE) rose 2.5%, after falling 6% on Thursday.

4. The Trump administration is expected to offer a tariff exemption on imported auto parts

American automakers are expected to see some relief from customs duties on imported auto parts, as the Commerce Department is expected to announce a five-year extension of an arrangement that allows for the reduction of those customs tariffs. Bloomberg It was reported that the announcement of tariff reductions on auto parts could come as early as today. Ford (F) and General Motors (GM) have lobbied the Trump administration to ease the tariffs, which they say gives an advantage to Japanese automakers. Ford shares were little changed in premarket trading, while shares of General Motors and Jeep maker Stellantes ( STLA ) rose about 1%.

5. Shares of weight-loss drug manufacturers fell after Trump’s comments on prices

Shares of weight-loss drug makers fell in early trading after President Donald Trump said the costs of those treatments should be much cheaper than they currently are. Trump said the price for Ozempic, which generally costs about $1,000 a month, should be much lower. “That would be $150 out of your pocket,” Trump reportedly said. Shares of Danish pharmaceutical company Novo Nordisk (NVO), which makes Ozempic and Wegovy, are down 4% in recent trading, as are shares of Eli Lilly (LLY), which makes Zepbound.