New York, January 16, 2026, 06:48 EST — Premarket
- Before the cash open, U.S. stock index futures are climbing, driven mainly by gains in memory-chip makers.
- Industrial production and capacity utilization figures will be released at 9:15 a.m. ET, with the NAHB housing market index coming out at 10 a.m.
- Later today, investors will scrutinize Fed speakers for hints before the Jan. 27-28 policy meeting.
U.S. stock index futures climbed Friday, driven by gains in memory-chip stocks as traders eyed upcoming factory data and Federal Reserve comments. By 5:52 a.m. ET, Dow E-minis had added 47 points, S&P 500 E-minis gained 20, and Nasdaq 100 E-minis jumped 148.25. Micron surged 6.4% in premarket trading, with Western Digital up 4.9% and Seagate rising 4.1%. Meanwhile, J.B. Hunt Transport Services dropped nearly 5% after reporting a decline in quarterly revenue. Investors are also awaiting December industrial production figures set for release later this morning. (Reuters)
San Francisco Fed President Mary Daly described policy as “in a good place,” urging the central bank to be “deliberate” in its next moves—a phrase markets often interpret as a signal to hold steady. The Fed is set to meet Jan. 27-28, with expectations strong that rates will remain between 3.50% and 3.75%. (Reuters)
The economy remains a puzzle for investors. U.S. retail sales climbed 0.6% in November, outpacing forecasts. Yet, Michael Pearce, chief U.S. economist at Oxford Economics, cautioned that tax changes and tariffs might deepen the divide between richer and poorer consumers. He warned, “the net impact… will be negative for the real incomes of the lowest-income households.” (Reuters)
Friday’s U.S. economic schedule includes industrial production data at 9:15 a.m. ET. Economists expect a modest 0.1% monthly gain for December, down from November’s 0.2% rise. Capacity utilization figures will drop at the same time, with consensus holding steady at 76.0%, matching November’s level. (Investing)
The next data point is the housing report. The NAHB/Wells Fargo housing market index is scheduled for release at 10:00 a.m. ET. According to Investing.com, the consensus expects the index to rise slightly to 40 from 39. NAHB confirms the usual release time as 10:00 a.m. Eastern. (Investing)
Baker Hughes will release its weekly oil and gas rig count at 1:00 p.m. ET, followed by the Treasury’s TIC flow data at 4:00 p.m. ET. (Tradingcharts)
Industrial production tracks output across factories, mines, and utilities. Capacity utilization shows what percentage of the sector’s plants are in use, often seen by traders as a quick snapshot of slack in the system.
Fed Governor Michelle Bowman and Vice Chair Philip Jefferson are set to speak later Friday. Their comments come right before the Fed’s blackout period starts Saturday, a time when officials typically steer clear of public statements ahead of policy meetings. (Federal Reserve Bank of Chicago)
A long weekend could heighten nerves. U.S. stock and bond markets will be closed Monday for Martin Luther King Jr. Day, reopening on Tuesday, Jan. 20. (Investopedia)
Next week’s earnings schedule heats up with Netflix, Johnson & Johnson, and Intel set to report. Investors will zero in on these results to gauge if enthusiasm for semiconductors and other cyclical sectors holds or if a shift back to defensives is underway amid softer data. (Reuters)
Near-term risks run both directions. If factory data beats expectations or utilization climbs, yields could jump, putting pressure on growth stocks sensitive to rates. On the flip side, a weak report would reignite concerns over fading momentum following a string of delayed data releases.
Following Friday’s data and Fed comments, all eyes turn to the Fed’s Jan. 27-28 meeting. That’s when policymakers will announce their rate decision on Jan. 28. (Federalreserve)
