Stock futures trade higher on hopes diplomacy will ease Russia-Ukraine tensions
, the world’s largest retailer, rose 4% after reporting strong fourth-quarter financial results. Cisco Systems, which makes routers, gained 2.8% after raising its profit forecast for the year.
Bond yields fell and dragged banks lower. The yield on the 10-year Treasury fell to 1.97% from 2.04% late Wednesday.CLICK HERE FOR FOX BUSINESS' REAL-TIME CRYPTOCURRENCY PRICING DATA So far, consumers haven't pulled back on spending due to higher prices. The Commerce Department reported that retail sales surged 3.8% in January as the threat of the omicron variant of COVID-19 faded.
In other trading Friday, U.S. benchmark crude lost $2.32 to $89.39 per barrel in electronic trading on the New York Mercantile Exchange. It fell 2% on Thursday, while the price of natural gas fell 4.9%.The Associated Press contributed to this report.
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