5 things you should know before the stock market opens

U.S. stock futures are little changed at the end of a strong week; Walmart shares (WMT) are slipping in premarket trading after their record close Thursday on better-than-forecast results in robust consumer; chipmaker Applied Materials (AMAT) shares are falling despite record quarterly sales boosted by the artificial intelligence (AI) boom; July housing starts due this morning are expected to show a smaller increase than June’s gains; and Dell Technologies shares (DELL) are extending gains after the traditional computing giant was named a top pick by analysts at JPMorgan. Here’s what investors need to know today.

1. US stock futures little changed at the end of a strong week

U.S. stock futures were little changed and are set to end the week on a strong note after rallying on Thursday on fresh retail sales data showing the consumer remains resilient, confirmed by Walmart’s (WMT) strong results. Through Thursday’s close, the S&P 500 is up 3.7% this week, the Nasdaq is up 5% and the Dow Jones Industrial Average is up 2.7%. In contrast, last week was marked by volatility on concerns about a slowdown in the U.S. economy and the unwinding of the yen carry trade.

2. Walmart share price falls after record closing price due to rising consumer numbers

Walmart shares fell slightly in premarket trading from Thursday’s record close after the retail giant raised its full-year outlook and reported quarterly results that beat analysts’ estimates. Cost-conscious consumers are increasingly shopping for essentials at discount retailers. CEO Doug McMillon said on Walmart’s earnings call that lower-income consumers value value, while higher-income customers prefer convenience.

3. Applied Materials slips despite AI-powered record sales

Applied Materials (AMAT) shares are down 2 percent in premarket trading, even though the company reported better-than-expected third-quarter results, including record sales driven by the artificial intelligence (AI) boom. The chipmaker expects fourth-quarter revenue of around $6.93 billion and diluted earnings per share (EPS) of $2 to $2.36, which is in line with analysts’ expectations. CEO Gary Dickerson said demand for AI products “positions Applied to outperform our markets over the long term.” The stock has gained more than 30 percent since the start of the year through Thursday’s close.

4. Construction starts in July expected to increase less than in June

Housing starts data, due at 8:30 a.m. ET, is expected to show a slightly smaller increase than in June as the market struggles to build inventories amid still-high interest rates. According to a survey of economists by Dow Jones Newswires And The Wall Street Journal. This is a slight decrease from the annual rate of 1.35 million in June, when the number rose 3% month-on-month.

5. Dell boosts profit as investors buy into computer giant’s AI story

Dell Technologies (DELL) shares are up about 1% in premarket trading after extending recent gains on Thursday as analysts at JPMorgan added the stock to an “Analyst Focus List,” highlighting the traditional computer company’s opportunity for long-term AI gains. Shares closed 7% higher at $110.21 on Thursday, adding to the stock’s 19% jump this week and 44% year-to-date. Over three-quarters of analysts tracked by Visible Alpha gave the stock a “buy” rating, with a consensus price target of $152.44.