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U.S. stock-index futures fell on Friday amid lingering concerns about Wall Street battle between hedge funds and retail investors. Investors also assessed Johnson & Johnson’s reports on the effectiveness of its coronavirus vaccine and the latest batch of earnings reports from U.S. companies, including Visa (V), Caterpillar (CAT), Chevron (CVX) and Honeywell (HON).

Global Stocks:

(company / ticker / price / change ($/%) / volume)

Ford Motor (F) downgraded to Underweight from Equal-Weight at Morgan Stanley

Boeing (BA) upgraded to Overweight from Underweight at Morgan Stanley; target $230

USD pared its earlier advances against its major rivals in the European session on Friday, as risk-on mood returned despite lingering concerns about a retail trading frenzy that had rocked Wall Street throughout the week, forcing investors to pull cash from risky assets.

The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, was little changed at  90.49.

The U.S. currency is weighed down by expectations that it will weaken in 2021 amid massive fiscal stimulus from the U.S. lawmakers, Fed's ultra-easy monetary policy and strong vaccine-fuelled global economic recovery. In addition, Q4 GDP figures from Spain, Germany, and France were better than feared, adding to the positive sentiment.

Chevron (CVX) reported Q4 FY 2020 loss of $0.01. per share (versus earnings of $1.49 per share in Q4 FY 2019), beating analysts’ consensus estimate of $0.08 per share.

The company’s quarterly revenues amounted to $25.246 bln (-30.5% y/y), missing analysts’ consensus estimate of $25.967 bln.

CVX fell to $87.74 (-1.44%) in pre-market trading.

Honeywell (HON) reported Q4 FY 2020 earnings of $2.07 per share (versus $2.06 per share in Q4 FY 2019), beating analysts’ consensus estimate of $2.00 per share.

The company’s quarterly revenues amounted to $8.900 bln (-6.3% y/y), beating analysts’ consensus estimate of $8.386 bln.

The company also issued in-line guidance for FY 2021, projecting EPS of $7.60-8.00 versus analysts’ consensus estimate of $7.84 and revenues of $33.4-34.4 bln versus analysts’ consensus estimate of $33.93 bln.

HON rose to $203.00 (+0.08%) in pre-market trading.

Caterpillar (CAT) reported Q4 FY 2020 earnings of $2.12 per share (versus $2.63 per share in Q4 FY 2019), beating analysts’ consensus estimate of $1.49 per share.

The company’s quarterly revenues amounted to $11.235 bln (-14.5% y/y), roughly in line with analysts’ consensus estimate of $11.240 bln.

CAT rose to $190.01 (+3.08%) in pre-market trading.

Visa (V) reported Q1 FY 2021 earnings of $1.42 per share (versus $1.46 per share in Q1 FY 2020), beating analysts’ consensus estimate of $1.28 per share.

The company’s quarterly revenues amounted to $5.687 bln (-6.1% y/y), beating analysts’ consensus estimate of $5.516 bln.

The company also reported that its board authorized a new $8.0 bln share repurchase program, bringing total funds available for repurchase to over $11 bln.

V rose to $199.45 (+0.62%) in pre-market trading.