After plummeting on Thursday, stocks’ roller-coaster week is set to continue with U.S. stock futures pointing to sharp losses at the open.

After plummeting on Thursday, stocks’ roller-coaster week is set to continue with U.S. stock futures pointing to sharp losses at the open.

A trader works before the closing bell at the New York Stock Exchange (NYSE) on September 20, 2019 in New York City.
This is a live blog. Check back for updates.
8:56 am: Tegna stock jumps after reported $8.5 billion bid
U.S. regional television operator Gray Television made an $8.5 billion bid to acquire Tegna according to Reuters, sending shares of Tegna up more than 28% in premarket trading. Tegna, which had a nearly $3 billion market value before the bid, would greatly expand Gray’s footprint in multiple TV station markets. Sheetz.
8:32 am: February jobs report handily beats expectations
Nonfarm payrolls climbed much more than expected in February, as the Labor Department said the U.S. economy added 273,000 jobs last month, well above the 175,000 economists expected. Additionally, the U.S. unemployment rate fell back to 3.5%. Sheetz
8:25 am: Where the market is before the jobs report
Five minutes before the February jobs report, the Dow Jones Industrial Average is set to open down 810 points on Friday. The S&P 500 and Nasdaq-100 were also set to open steeply lower. Sheetz
8:03 am: Gold on pace for week best since 2008
Gold prices have surged 7.6% this week, as the global spread of the coronavirus dimmed growth prospects and sent investors scurrying for safe-haven assets. This week’s rally puts gold on pace for its best week since December 2008, when gold gained 9.08%. Spot gold was up 0.9% at $1,685.67 per ounce on Friday morning. Fitzgerald
7:58 am: Apple slides 4% as UBS cuts estimates, says ‘near-term demand risk is increasing’
Shares of Apple slid nearly 4% in Friday’s premarket trading after UBS cut its estimates due to a slowdown in demand. The firm said that the demand impact is “likely to expand beyond China.” UBS lowered its full-year 2020 revenue estimate to $281 billion from $282.3 billion, and cut its EPS estimate to $13.55 from $13.64. The firm has a buy rating and 12-month price target of $355, which is 21% above where the stock currently trades.
7:47 am: 10-year US yield hits record low under 0.7% as flight to bonds continues
The global flight to the safety of government debt continued on Friday as investors piled into U.S. Treasurys and sent the yield on the 10-year note to record lows. The exodus out of equities sent the yield on the benchmark 10-year Treasury note to 0.695% around 4:45 a.m. ET, below 0.7% for the first time ever, according to Tradeweb data. As of the latest reading, however, the 10-year yield had moved off those lows to 0.769%. Franck, Francolla
7:36 am: Markets to watch payrolls for clues on economic health
Though it will cover a period before the worst of the coronavirus fears hit, investors will be closely watching this morning’s nonfarm payrolls report when it hits at 8:30 am ET. Economists surveyed by Dow Jones are expecting 175,000 new jobs in February and the unemployment rate dropping back down to its 50-year low of 3.5%. “”Now more than ever, we need to focus on the labor market data,” said Liz Ann Sonders, chief investment strategist at Charles Schwab. “The consumer has kind of kept things afloat.” Cox
7:27 am: 78% of the S&P in correction territory
With yesterday’s steep slide, 78% of the S&P 500 is now in correction territory, or more than 10% below recent highs. 41% of the index, or 207 stocks, are currently trading in bear market territory, or more than 20% below recent highs. – Stevens 
7:05 am: Stock sell-off accelerates, Dow set to drop more than 500 points at the open
It’s been a volatile week of whipsaw market moves, and Friday is shaping up to be the same story on the Street. U.S. stock futures are pointing to sharp losses at the open, with the Dow Jones Industrial Average set to slide more than 500 points for a loss of 2.2%. The S&P 500 is set to open down 2.2%, while the Nasdaq is set to drop 3%.
As the coronavirus outbreak continues to spook markets, investors are shedding equities in favor of so-called safe haven assets. The yield on the U.S. 10-year Treasury is at an all-time low, and the utilities sector is on pace for its best week ever. – Stevens
CNBC’s Gina Francolla and Maggie Fitzgerald contributed reporting.
Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

Share