S&P 500 futures trade barely lower, however the index is headed for a winning week

Stock futures fell barely on Friday morning as investors looked to shut out a winning week for markets that saw better-than-expected economic growth and a pop in market-darling Tesla.

S&P 500 futures shed 0.28%, while Nasdaq 100 futures were down 0.5%. Futures tied to the Dow Jones Industrial Average traded flat.

Earnings season continued, with Intel slumped greater than 9% premarket following a dismal earnings report that missed on the highest and bottom lines. Strong guidance boosted American Express despite a top-and bottom-line miss.

Stocks rose during regular trading Thursday, cheering a better-than-expected fourth quarter gross domestic product report that stoked hopes that the U.S. economy can experience a soft landing because the Federal Reserve hikes rates to tame inflation.

The Dow Jones Industrial Average gained greater than 205 points, or 0.61%, notching its fifth consecutive winning session, the primary streak of that length since October. The S&P 500 rose 1.10% and the tech-heavy Nasdaq Composite jumped 1.76%.

All three indexes are positive for the week and month. The Dow and the S&P 500 have gained 1.7% and a couple of.2% this week, respectively. The Nasdaq is up 3.3% on the week and is about to notch its best monthly performance since July. The Nasdaq has gained the last 4 weeks.

“This 12 months’s stock market rally is impressive and should not be ignored,” Chris Zaccarelli, chief investment officer for the Independent Advisor Alliance said in a Thursday note. “Unfortunately, the Fed is more likely to start talking down the market again, as early as next week, so prepare for volatility again this 12 months; we could also be in the attention of the hurricane and never completely out of the woods yet.”

Tesla closed out Thursday with an 11% gain after earnings and revenue for the last quarter topped expectations and CEO Elon Musk projected the carmaker could possibly produce 2 million cars this 12 months. The widely followed stock was down 65% last 12 months to guide a rout in the expansion sector. The shares are up greater than 30% this 12 months.

On Friday, investors might be anticipating economic reports that can give more information in regards to the state of inflation. Personal income and spending and pending home sales for December are due within the morning. The non-public consumption expenditures price index, a preferred inflation measurement for the Federal Reserve, can be due. Consumer sentiment for January can even be released.

It’s a number of the last data that might be released ahead of the Fed’s next interest-rate decision on Feb. 1. Investors are currently expecting a 0.25 percentage point rate of interest hike from the central bank.