Stock Market Today: Nasdaq, S&P 500 Futures Decline As Investors Await Trump's New Fed Chair Pick— SanDisk, Deckers, Robinhood In Focus

U.S. stock futures fell on Friday following Thursday’s mixed close. Futures of major benchmark indices were lower.

Meanwhile, President Donald Trump, during an appearance at the premiere for the film “Melania,” on Thursday, said that he will name his pick for the Federal Reserve Chair on Friday.

Data from Kalshi, a federally authorized betting platform, shows that over $81.6 million has been bet on the contract "Who will Trump nominate as Fed Chair?" Warsh is currently leading, with 92% probability that he will be nominated as the next Fed Chair, up by 59%.

The 10-year Treasury bond yielded 4.26%, and the two-year bond was at 3.56%. The CME Group's FedWatch tool‘s projections show markets pricing an 84.7% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.

Index	Performance (+/-)
Dow Jones	-0.84%
S&P 500	-0.92%
Nasdaq 100	-1.13%
Russell 2000	-1.51%

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Friday. The SPY was down 0.82% at $688.32, while the QQQ declined 1.05% to $622.80.

Stocks In Focus

Apple

• Apple Inc. (NASDAQ:AAPL) was 0.34% lower despite reporting stronger-than-expected financial results for the first quarter of fiscal 2026 after the market closed on Thursday.

• AAPL maintains a stronger price trend over the long term but a weak trend in the short and medium terms with a solid quality ranking, as per Benzinga's Edge Stock Rankings.

SanDisk

• SanDisk Corp. (NASDAQ:SNDK) surged 20.53% after posting upbeat results for its second quarter on Thursday. It also announced the extension of its joint venture with Japanese multinational computer memory manufacturer Kioxia Corp. through Dec. 31, 2034.

• Benzinga’s Edge Stock Rankings indicate that SNDK maintains a strong price trend in the medium, short, and long terms.

Rocket Lab

• Rocket Lab Corp. (NASDAQ:RKLB) dropped 4.30% despite successfully launching the 81st Electron rocket on Jan. 30, executing its second launch in eight days to place KAIST's NEONSAT-1A into a 540 km low Earth orbit.

• RKLB maintains a stronger price trend over the short, medium, and long terms, as per Benzinga's Edge Stock Rankings.

Deckers Outdoor

• Deckers Outdoor Corp. (NYSE:DECK) jumped 12.85% after reporting record revenue and profit for the third quarter.

• Benzinga’s Edge Stock Rankings indicate that DECK maintains a strong price trend over the short, medium, and long terms with a good quality ranking.

Robinhood Markets

• Robinhood Markets Inc. (NASDAQ:HOOD) was down 0.22% following a spike on Thursday, when it was reported that the U.S. federal government is considering giving it a key role in overseeing the new “Trump accounts” being created for children.

• HOOD maintains a stronger price trend over the long term but a weak trend in the short and medium terms, with a solid growth ranking, as per Benzinga's Edge Stock Rankings.

Cues From Last Session

Real estate, communication services, and financial stocks led most of the S&P 500 sectors higher, though consumer discretionary and information technology shares closed lower.

Index	Performance (+/-)	Value
Dow Jones	0.11%	49,071.56
S&P 500	-0.13%	6,969.01
Nasdaq Composite	-0.72%	23,685.12
Russell 2000	0.046%	2,654.78

Insights From Analysts

Scott Wren, Senior Global Market Strategist at Wells Fargo Investment Institute, maintains an optimistic outlook for the U.S. economy and stock market in 2026, despite some media narratives suggesting a “sell America” mentality.

He expects the American economy to remain resilient, forecasting a “moderate 2.4% growth rate in the U.S. this year.” This steady growth, combined with moderating inflation, creates what he describes as “a good environment for stocks.”

Regarding the stock market, Wren anticipates a milestone year for corporate performance. He notes that the S&P 500 Index has achieved three straight years of record earnings, and he expects “2026 to be the fourth.” He attributes this continued momentum to several factors:

• Strong Corporate Fundamentals: Enhanced tax benefits and deregulation are expected to provide an “added earnings push”.
• Sector Innovation: Ongoing capital expenditures in artificial intelligence (AI) and innovation in biotech and defense continue to attract capital.
• Global Leadership: Wren believes U.S. markets will remain the primary destination for international investors, stating, “Sell America? Hardly”.

In summary, Wren expects international investors to “continue to vote with their feet” by investing in U.S. assets due to the nation’s deep, liquid markets and rule of law.

Upcoming Economic Data

Here's what investors will be keeping an eye on Friday.

• December’s delayed producer price index data will be released at 8:30 a.m. ET.

• January’s Chicago Business Barometer (PMI) will be out by 9:45 a.m., St Louis Fed President Alberto Musalem will speak at 1:30 p.m., and Fed Vice Chair for Supervision Michelle Bowman will speak at 5:00 p.m. ET.

Commodities, Gold, Crypto, And Global Equity Markets

Crude oil futures were trading lower in the early New York session by 1.21% to hover around $64.63 per barrel.

Gold Spot US Dollar fell 6.18% to hover around $5,040.83 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.48% higher at the 96.7450 level.

Meanwhile, Bitcoin (CRYPTO: BTC) was trading 6.28% lower at $82,225.86 per coin.

Asian markets closed lower on Friday, except South Korea's Kospi index. Hong Kong's Hang Seng, China’s CSI 300, Australia's ASX 200, Japan's Nikkei 225, and India’s Nifty 50 indices fell. European markets were mostly higher in early trade.

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