U.S. stock futures are pointing lower to end the week; President Trump says Apple (AAPL) must pay a “Tariff of at least 25%” on iPhones not made in the U.S.; Intuit (INTU) shares are jumping in premarket trading after the TurboTax and Credit Karma parent posted strong results and lifted its full-year outlook; Deckers Outdoor (DECK) shares are plunging after the Hoka and Ugg parent did not issue full-year guidance; and April new home sales data is due today. Here’s what investors need to know today.
1. US Stock Futures Point Lower to End Week
U.S. stock futures are pointing lower to end the week amid rising worries about the federal deficit as a budget bill works its way through Congress. Dow Jones Industrial Average and S&P 500 future are both down 0.3% after the indexes ended fractionally lower Thursday. Nasdaq futures are 0.4% lower after closing 0.3% higher yesterday. The 10-year Treasury yield is lower at 4.47%. Gold and oil futures are rising. Bitcoin is edging lower but hovering near newly set all-time highs above $111,000.
2. Trump Says Apple Must Pay ‘Tariff of At Least 25%’ on iPhones Not Made in US
In a post on his Truth Social network early Friday morning, President Donald Trump wrote that Apple (AAPL) must pay a “Tariff of at least 25%” on iPhones not made in the U.S. “I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,” Trump said, referring to the tech giant’s CEO. Apple shares are falling 3% in premarket trading in response.
3. Intuit Stock Jumps as TurboTax Parent Posts Strong Results, Lifts Outlook
Intuit (INTU) shares are jumping nearly 9% in premarket trading after the TurboTax and Credit Karma parent reported fiscal third-quarter results that topped analysts’ expectations and raised its full-year outlook after the bell Thursday. The company said it now expects fiscal 2025 revenue between $18.72 billion and $18.76 billion, up from the prior forecast of $18.16 billion to $18.35 billion. The company also projected adjusted earnings per share of $20.07 to $20.12, up from $19.16 to $19.36.
4. Deckers Stock Plunges as Hoka Maker Does Not Issue FY Outlook on Tariff Pressure
Deckers Outdoor (DECK) shares are tumbling nearly 18% in premarket trading after the Ugg and Hoka parent did not issue a full-year outlook because of uncertainties around tariffs. “Given the macroeconomic uncertainty related to evolving global trade policies, the Company will not be providing full year guidance for fiscal year 2026 at this time,” Deckers said. The company, which makes many of its products in China, said it expects second-quarter net sales of $890 million to $910 million, below Visible Alpha consensus.
5. New Home Sales Expected to Have Dropped in April
U.S. new home sales data for April is due to be released at 10:00 a.m. ET today, and analysts expect a seasonally adjusted annual rate of 695,000, down from 724,000 in March, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. The data comes a day after U.S. sales of existing homes for the month lagged estimates. Home sales in the U.S. have been sluggish amid high interest rates and challenging inventory.
