Today's stock futures are unchanged after a decline due to inflation concerns and worries about the Federal Reserve's actions.

BY THE NUMBERS

Despite a sharp sell-off in U.S. stock futures the previous day, caused by unexpected inflation data and St. Louis Federal Reserve President James Bullard's call for 100 basis points worth of interest rate increases by July 1, stock futures remained steady on Friday. There are three regularly scheduled meetings before Bullard's deadline, starting in March. (CNBC)

Citi economists anticipate the Fed making a more aggressive 50 basis point increase in March, while the market expects six 25 basis point hikes this year. Citi's global chief economist stated that the HOT January consumer inflation data was a "punch in the stomach" to the Fed. Goldman Sachs now predicts seven rate hikes by the Fed this year. Despite calls for bigger action, the Fed is likely to take a measured approach to rate hikes.

On Friday, the ticked lower but remained above 2%, a level reached for the first time since August 2019. The 2-year Treasury yield traded around 1.6% on Friday after surging 26 basis points in the prior session, the biggest single-day move since 2009. Wall Street will be looking to Tuesday's release of the producer price index to see if inflation at the wholesale level ran as hot last month. (Source: CNBC)

If the market closes sharply lower on Friday, the S&P 500 and Nasdaq could post losses for the week. Despite logging their best weeks of the year last week, the S&P 500 and Nasdaq still face the possibility of losses. The S&P 500, still in a correction, sank 2.1% on Thursday, while the Dow fell 526 points, or nearly 1.5%.

IN THE NEWS TODAY

President Biden is advising American citizens to evacuate Ukraine promptly as the conflict with Russia over its military actions escalates. In a recent interview on "NBC Nightly News," Biden stated, "We're dealing with one of the largest armies in the world. This is a very different situation, and things could go crazy quickly."

The U.S. urged Canada to employ federal powers to mitigate the economic turmoil resulting from the blockage of a crucial U.S.-Canada trade route by protesters who are against coronavirus mandates. The congested border, a vital link for Detroit's automakers, has halted some auto production. (CNBC)

Despite reporting fiscal fourth-quarter earnings and sales ahead of analysts' estimates, (UAA) fell 2.5% in the premarket on Friday. The retailer's cloudy outlook was hindered by lingering supply chain constraints, and the company warned that heightened freight expenses would negatively impact profit margins in the coming months.

On Friday, Zillow's premarket shares rose 13.5% after the company reported a narrower-than-expected adjusted quarterly loss of 42 cents per share and better-than-expected revenue. Zillow also announced that it is exiting the home-flipping business more quickly and cost-effectively than anticipated. (Source: CNBC)

Affirm's premarket shares dropped another 10% after the company released its fiscal second-quarter results ahead of schedule, resulting in a 21% decline on Thursday. The buy now, pay later company lost 57 cents per share on $361 million in revenue. The company attributed the early release of the results to human error. (AFRM)

The Food and Drug Administration committee has advised against granting full approval to a lung cancer treatment created by China's (LLY) due to concerns that the clinical trial was conducted entirely in China with participants who were not as diverse as the U.S. population. (CNBC)

STOCKS TO WATCH

The company behind brands like Mr. Coffee, Crock-Pot and Sunbeam reported better-than-expected profit and revenue, earning an adjusted 42 cents per share for its latest quarter, 10 cents above estimates. Additionally, the company issued an upbeat profit forecast and saw a 1.2% increase in premarket trading.

Expedia reported an adjusted earnings per share of $1.06 for its latest quarter, surpassing the 69-cent consensus estimate, despite revenue falling short of analyst predictions. The travel services company stated that the Covid-related impact on travel bookings was significant but less severe and for a shorter duration than previous Covid waves. Expedia's stock price increased by 4.6% in premarket trading.

Aurora reported better-than-expected cannabis sales during its latest quarter, marking the first time it has been able to exceed analyst estimates in over a year. Despite this, the company reported a quarterly loss of $59 million, which is significantly less than a year earlier. As a result, the stock slid 4.6% in premarket action.

Despite pressure from activist investor Jana Partners to abandon the deal, Zendesk rejected a takeover bid of $127 to $132 per share from a group of private equity firms. The software development company said it would push ahead with its proposed acquisition of SurveyMonkey parent (MNTV). Zendesk rose 2.7% in the premarket, while Momentive Global jumped 7.9%.

GoDaddy surpassed estimates by 11 cents with adjusted quarterly earnings of 52 cents per share and better-than-expected revenue. The cloud computing company also announced a $3 billion share repurchase program.

Yelp reported a quarterly profit of 30 cents per share, more than doubling the 14-cent consensus estimate. Additionally, the online review site operator reported better-than-expected revenue due to its advertising business. Yelp's stock price increased by 4.5% in premarket action.

Following a Bloomberg report that private equity firm Centerbridge Partners acquired a 5% stake, FUN gained 2.8% in premarket trading. The theme park operator is currently reviewing a $3.4 billion takeover bid from SEAS.