Stock futures are lower Friday as investors evaluate a flurry of earnings reports and a major announcement from the White House; President Donald Trump said Friday that former Fed governor Kevin Warsh is his nominee to be the next Federal Reserve Chair; gold and silver prices are tumbling after hitting a series of record highs recently; Apple, Sandisk and Visa each topped estimates in earnings reports after the bell Thursday, with more reports from major companies out this morning; and a deal looks to have been reached to avoid a government shutdown. Here's what you need to know today.

Stocks are poised to open lower this morning to cap off a volatile week of trading as investors digest another barrage of earnings reports. Futures tied to the Dow Jones Industrial Average and S&P 500 were each down 0.4% recently, while those linked to the tech-heavy Nasdaq declined 0.5%. Futures were pointing to even sharper losses earlier Friday before President Trump announced his Fed Chair selection. (more on that below) The major indexes ended mixed on Thursday, with the S&P 500 and Nasdaq losing ground as a number of tech stocks including Microsoft fell sharply, while the Dow inched higher. The major indexes remain on track to post gains for the month.

Bitcoin was at $82,600 in recent trading, down from a high of about $89,000 yesterday and trading around its lowest levels since last April. Gold futures dropped to about $5,075 an ounce, after surging to a record high above $5,500 yesterday. Crude oil futures were down slightly at $65.15 per barrel, after hitting a four-month high yesterday amid geopolitical concerns. The yield on the 10-year Treasury, which affects borrowing costs on all sorts of loans, ticked higher to 4.25% this morning.

President Trump said Friday that he is nominating Kevin Warsh to be the central bank's next chair, replacing Jerome Powell when his term ends in May. Warsh previously served as a Fed governor from 2006 to 2011. "I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best," Trump said in a Friday morning social media post. Trump said Thursday night that he planned to announce his pick this morning, with multiple media reports overnight saying that Warsh was the expected choice. The White House has spent months interviewing candidates in a process that at times also included National Economic Council Director Kevin Hassett as a favorite for the job, along with others from within the banking sector and government. Powell's term as Fed Chair ends in May, though he has the option to remain a Fed Governor for the remaining two years of his term. Trump has been highly critical of Powell for not overseeing more aggressive interest rate cuts at the Fed.

After recent rallies that led the precious metals to record highs, gold and silver futures are each tumbling Friday morning as some investors take profits. Gold futures were recently down 4.6% at $5,075 per ounce, after surging above $5,500 yesterday. Silver futures sank 13% to $99.80 an ounce, down from yesterday's high above $114. The safe haven assets, after surging in 2025, have extended that hot streak into this year amid uncertainty around the Trump administration's actions abroad in Venezuela, Greenland and Iran. Investors often turn to precious metals as stores of value during times of geopolitical and economic uncertainty.

The week's run of tech earnings reports continued into Thursday evening with Apple (AAPL) posting solid results after the closing bell, though shares were down slightly this morning. Shares of Sandisk (SNDK), one of the market's hottest stocks to start the year, are soaring more than 20% in premarket trading after the computer storage device maker topped estimates and projected more profit growth than analysts had expected. Visa (V) shares are down slightly despite a better-than-expected quarterly report from the credit card giant last night. Among the companies releasing results this morning, American Express (AXP) shares were down 2%, ExxonMobil (XOM) slipped 1% and Chevron (CVX) was little changed, while Verizon (VZ) and Colgate-Palmolive (CL) gained ground.

Democrats in Congress and the White House have a deal to fund most of the government through the end of the fiscal year in September, The Wall Street Journal reported Thursday night. After spending bills passed the House but stalled in the Senate earlier this week, a shutdown appeared likely amid negotiations over Department of Homeland Security funding. Democrats have pushed for more restrictions to be placed on Trump's immigration crackdown after Immigration and Customs Enforcement and Customs and Border Protection agents have come under fire for harsh tactics in recent weeks. Under the current deal, five of the six spending bills currently in the chamber would pass, with a two-week extension given to DHS funding to allow for more talks, the Journal reported. "Republicans and Democrats in Congress have come together to get the vast majority of the Government funded until September," Trump said in a social media post, adding that he hopes "both Republicans and Democrats will give a very much needed Bipartisan “YES” Vote."

Read the original article on Investopedia