U.S. stock futures are pointing higher after uncertainty around tariff policy sparked another selloff yesterday; U.S. employers are expected to have added positions in February while the unemployment rate is projected to have remained steady in today’s jobs report; Broadcom (AVGO) shares are popping in premarket trading after the firm’s earnings report beat expectations and showed continued strength in AI chip sales; Walgreens Boots Alliance (WBA) stock is moving higher on its announcement of a $10 billion deal to be taken private; and Hewlett Packard Enterprise (HPE) shares are plummeting after it reported disappointing results and announced layoffs. Here’s what investors need to know today.
1. US Stock Futures Point Higher After Tariff Uncertainty Sparks Selloff
U.S. stock futures are pointing higher after indexes faltered yesterday over continued uncertainty around U.S. tariff policy. Nasdaq futures are 0.2% higher following yesterday’s 2.6% decline, and Dow Jones Industrial Average and S&P 500 futures also are slightly higher after plunging Thursday. Bitcoin (BTCUSD) is slightly lower to trade at around $89,000 after the White House announced the launch of a U.S strategic bitcoin reserve ahead of today’s crypto summit. Yields on the 10-year Treasury note and gold futures are little changed. Oil futures are 1.5% higher.
2. US Jobs Expected to Have Grown in February Following Weather Slowdown
Job creation is expected to have improved in February when the monthly employment report is released at 8:30 a.m. ET. Employers are expected to have added 170,000 positions last month, up from the 143,000 positions added in January, according to projections from economists surveyed by Dow Jones Newswires and The Wall Street Journal. The uptick may partly reflect a rebound after bad weather suppressed job growth in January, economists said. The unemployment rate is expected to have stayed at 4.0%.
3. Broadcom Stock Surges on Strong AI Chip Sales, Optimistic Outlook
Broadcom (AVGO) shares are jumping 10% in premarket trading after the chipmaker beat analysts’ first-quarter estimates and projected continued strong sales of artificial intelligence (AI) semiconductors. Broadcom reported adjusted earnings per share (EPS) of $1.60 on revenue that grew 25% year-over-year to $14.92 billion, both above Visible Alpha expectations. Its current-quarter projected revenue of $14.9 billion came in slightly ahead of the consensus. The company said its revenue from AI chip sales jumped 77% in the quarter, with projections showing continued improvement in that area.
4. Walgreens Stock Rises on Deal to Take Chain Store Private
Walgreens Boots Alliance (WBA) shares are more than 6% higher in premarket trading after the troubled pharmacy chain announced it had agreed to be taken private in a $10 billion deal. Private equity firm Sycamore Partners will pay $11.45 per share for Walgreens, more than 8% higher than its Thursday closing price of $10.60. Investors could also receive up to $3 more per share in proceeds from the eventual sale of Walgreens’ primary care businesses, the company said. The transaction is expected to close in the fourth quarter of 2025.
5. Hewlett Packard Enterprises Stock Dives on Weak Earnings, Layoffs Announcement
Hewlett Packard Enterprise (HPE) stock is sinking 20% in premarket trading after it reported disappointing earnings and announced layoffs. The firm reported a 16% year-over-year revenue jump to $7.9 billion that beat Visible Alpha estimates, but its adjusted EPS of $0.44 came up short. The company also announced a cost-cutting program designed to save $350 million by fiscal 2027. “We plan to reduce our employee base 5% over the next 12 to 18 months through the reduction of approximately 2,500 positions and expected attrition,” CEO Antonio Fabio Neri said on the firm’s earnings call, according to a transcript provided by AlphaSense.