Crews battle massive fire at abandoned building in Miami

Stock futures wavered Friday morning as investors continue to deal with a volatile global contract landscape with President Donald Trump s contentious plan for tariffs in legal limbo Futures tied to the Dow Jones Industrial Average sat near flat S P futures and Nasdaq- futures were also both little changed The Trump administration is now considering using a provision of the Transaction Act of to implement tariffs of up to for days according to The Wall Street Journal This review comes as the administration searches for an avenue to implement the plan for broad and steep tariffs after a court threw its legality into question The Court of International Deal on Wednesday night halted the majority of President Donald Trump s tariffs But an appeals court granted a stay on Thursday afternoon allowing the duties to remain in place until next week Meanwhile Treasury Secretary Bessent revealed in a Fox News interview that U S -China deal talks are a bit stalled dashing hopes of investors wanting a deal soon This news is the latest dose of uncertainty for what was an already uneasy arena Investors have contended with macroeconomic concerns tied to tariffs and worry that the shakeup to U S exchange procedures could cause a recession Yet stocks are on the verge of closing out May with strong gains following a rocky April The S P has added more than this month while the Nasdaq Composite has surged in that time The -stock Dow has gained about on the month I think as we head into summer that momentum can continue but then that s where the hard information that may catch up to the weaker soft statistics could come into play Ned Davis Research chief U S strategist Ed Clissold recounted CNBC s Closing Bell on Thursday I think as we move through the second quarter into the third quarter there s still chosen good momentum in the arena For the week the S P has advanced about while the -stock Dow is up The tech-heavy Nasdaq has advanced Investors will also monitor a fresh reading of the Federal Reserve s preferred inflation gauge the personal consumption expenditures index on Friday Investors parsed fresh quarterly results in premarket trading Shares of clothing retailer Gap pulled back more than after a weaker-than-expected second-quarter outlook while cosmetics stock Ulta Beauty advanced on strong first-quarter results Dell Technologies gained about on the heels of strong first-quarter revenue WSJ Trump admin considers using Business Act of amid legal tariff battle The Trump administration is now considering using a provision of the Agreement Act of to implement tariffs of up to for days according to The Wall Street Journal This statement comes as the administration searches for a legal avenue allowing the implementation of the plan for broad and steep tariffs A court halted various such duties earlier this week but an appeals court granted a stay until next week Alex Harring Stocks could see pressure from pension rebalance selling on Friday Pension rebalancing could put chosen pressure on stocks Friday A note from the Goldman Sachs trading desk demonstrated that U S pension funds are expected to sell billion of equities as part of their month-end rebalancing This comes after stocks strongly outperformed major bond funds in May meaning that institutions with strict asset allocation rules need to make substantial trades to get back in balance We re not used to sort of seeing the volatility we ve seen in bonds as well and especially when you re working with something like pension funds or on the institution side these fund flows can be in the billions easily And when you start to see those rebalances take shape rather hastily it can definitely be a short- to intermediate-term needle mover stated Bret Kenwell U S capital analyst at eToro Jesse Pound Asia-Pacific markets fall as U S appeals court reinstates Trump tariffs Asia-Pacific markets mostly fell Friday with a slowing U S market system inflation fears and uncertainties from the judicial developments surrounding U S President Donald Trump s reciprocal tariffs weighing on investor sentiment Japan s benchmark Nikkei declined to end the day at while the broader Topix index moved down to as investors parsed a slew of figures releases Tokyo s core inflation reading for April which captures consumer costs excluding fresh food climbed from a year ago its highest level since January In South Korea the Kospi index dropped to close at while the small-cap Kosdaq fell to Mainland China s CSI index ended the day lower at while Hong Kong s Hang Seng Index retreated to Meanwhile India s benchmark Nifty pulled back while the BSE Sensex inched down as at p m Indian Standard Time Over in Australia the S P ASX rose to end the day at Amala Balakrishner Auto stocks in Asia join the sell-off Auto stocks in Asia are feeling the heat of the reinstatement of U S President Donald Trump s tariffs Mazda Motor led losses in Japanese automakers plunging as at p m Singapore time Other stocks that logged losses include Nissan Motor which retreated Mitsubishi Motors which fell and Honda Motor which was down Over in South Korea Kia Corp dropped while Hyundai Motor lost Indian automakers were also trading in negative territory with the Nifty Auto index down Among the worst performers were Bajaj Auto which fell Ashok Leyland which dropped and Mahindra and Mahindra which lost Amala Balakrishner Asia s tech giants fall on tariff concerns Asian tech stocks fell Friday amid increased concerns over the the reinstatement of U S President Donald Trump s business tariffs by the appeals court In Japan sharp declines were seen in Lasertec which had plunged and Renesas Electronics which retreated as at p m Singapore time Losses were also seen in Advantest Corp which dropped and SoftBank Group which lost Over in South Korea chipmaker SK Hynix had declined while Samsung Electronics moved up Tech companies in Hong Kong were in the red with Robosense and Nio leading losses with declines of and respectively Sharp losses were seen in Xpeng which lost BYD which fell Alibaba which lost and NetEase which dropped Losses were also seen in Baidu which was down Tencent which fell and Xiaomi which dropped Amala Balakrishner Hong Kong shares plunge on reinstatement of Trump tariffs Hong Kong stocks fell Friday as markets digested the reinstatement of U S President Donald Trump s tariffs a day after a court ruling blocking them The Hang Seng Index was down as of p m local time Countless major Chinese companies are listed on the index which is up more than since the start of the year Its losses were led by the apparatus consumer cyclical and teaching services sectors Meanwhile the tech-heavy Hang Seng Tech Index was last seen down Specific of the worst performers on the index include input centre firm GDS Holdings which plunged Horizon Robotics which fell and BYD Electronic International which dropped The Hang Seng Tech Index ETF shows the day s moves Amala Balakrishner Investor pessimism rebounds and bullishness fades in latest AAII survey Pessimism rebounded in the latest survey of Main Street investors by the American Association of Individual Investors Bearish opinion toward stocks over the next six months grew to this week from last week above its historical average of for the th time in weeks Bullish sentiment toward the short-term outlook dropped to of poll respondents down from last week and below its historical average of for the th time in weeks In a special question nearly of those surveyed mentioned tariffs the financial sector and or inflation are the factor preponderance influencing their six-month outlook for stocks trailed by corporate earnings valuations and monetary strategy and interest rates Scott Schnipper Inflation input on Friday expected to show Fed s preferred gauge still above The April index for personal consumption expenditures is expected to show inflation still above when it is issued Friday morning Economists surveyed by Dow Jones expect PCE to rise month over month and year over year For core PCE which strips out volatile food and force prices projections call for a monthly increase and for the year Core PCE is the measure of inflation generally favored by the Federal Reserve Additionally Vanguard economist Josh Hirt commented in a note to keep an eye on feasible upward revisions to January and March PCEs due to producer price index revisions of hospitals physicians and insurance services Gene Goldman Cetera CIO explained CNBC that he expects a cool inflation reading on Friday but doesn t think it will generate much domain reaction He noted short-term evidence is noisy and still being impacted by factors like companies trying to front-run the tariffs by importing extra supplies and inventory earlier this year Jesse Pound Stocks making the biggest moves after hours Check out various of the companies making headlines in extended trading Gap The apparel stock plummeted more than as lackluster second-quarter revenue guidance overshadowed an earnings beat for Q Gap expects Q revenue to remain about flat year over year Analysts expected a forecast calling for a slight gain Costco The wholesale retailer shared quarterly results that beat analyst expectations yet shares were little changed The company earned per share on revenue of billion Analysts expected a profit of per share on revenue of billion Same-store sales upsurge and gross margins were above estimates as well Dell Technologies Shares of the device company gained more than after first-quarter revenue surpassed analyst estimates Dell informed revenue of billion while analysts polled by LSEG called for billion The company also raised its full-year earnings guidance Read the full list here Brian Evans Stock futures are little changed Stock futures were little changed on Thursday as investors await more clarity on U S agreement agenda Futures tied to the Dow Jones Industrial Average pulled back points or S P futures slipped alongside Nasdaq futures Brian Evans