Futures for U.S. markets pointed higher late Thursday as investors await info on holiday retail sales and the first full day of earnings as a raft of industrial shares trot out their fourth-quarter performance.
The S&P 500 was up 0.09%, Nasdaq 0.12% and the Dow Jones Industrials 0.1% at 8:58 p.m. EST.
Earnings season will begin in earnest Friday with reports from JPMorgan Chase (JPM) - Get Report , Bank of America(BAC) - Get Report and Wells Fargo (WFC) - Get Report . The reports will be closely watched since the financial sector has leaped about 17% in the post-election rally as investors bet on higher interest rates and a much-promised decrease in regulation, which could benefit banks.
The upbeat approach to Friday offsets a glummer Thursday where investors expressed their disappointment in the lack of fiscal detail provided at President-elect Trump's Wednesday press conference. The S&P slid 0.21%, Nasdaq 0.29% and the Dow 0.32%. Shares in continental Europe also didn't do well with the automotive sector pulling averages down after the EPA accused Fiat Chrysler(FCAU) - Get Report of similar diesel emissions hijinks as those of Germany's Volkswagen.
The Dax in Germany lost 1.07% and the Cac in Paris 0.51%. Meanwhile the FTSE continued its record march higher despite Brexit worries, closing 0.03% in the black.
Asia was mixed in early Friday trade as a rumored resolution between Japanese airbag maker Takata and the U.S. Justice Department pushed the company's shares up 16.5%, pulling the country's Nikkei index 0.41% higher at 9:01 p.m. EST. The Hang Seng in Hong Kong also added 0.44% at the same time while the Kospi in South Korea lost 0.45% and the ASX in Australia 0.82%.
Trump's disappointing press conference also weighed on the dollar with the dollar index off slightly to 101.44 at 8:52 p.m. EST after falling below the 101 mark Thursday.
In oil, a barrel of industry standard Brent crude cost $56.14 at 8:49 p.m. EST--an increase of 0.23%--while its West Texas brethren cost $53.12, an increase of 0.21%. The prices reflect futures for delivery in March and February, respectively.
In after-hours trade, shares of Pandora (P) cranked up 7.83%, to $12.94, after the music streaming company said it did better in the fourth quarter than analysts expected after more people signed up for its service than forecast. Still, Oakland, Calif.-based Pandora said it would cut staff to save money as the streaming space gets crowded.
Revenue was bolstered by "strong advertising performance," the company said, helping to drive higher revenue and adjusted earnings before interest, tax, depreciation and amortization than previously forecast. In addition, its subscription-based radio streaming service, Pandora Plus, generated more than 375,000 net new subscribers over the three-month period.
It will report full-year results on Feb. 9 after the market close.
Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long WFC.