U.S. equity futures were slightly higher early Friday as investors awaited the release of consumer sentiment data from University of Michigan. The broader economic calendar remains light due to the ongoing federal government shutdown, which has paused the publication of several key indicators. In corporate news, Applied Digital Corporation (NASDAQ:APLD) shares jumped in after-hours trading on strong quarterly revenue, while Levi Strauss & Co. (NYSE:LEVI) slipped as results failed to fully meet investor expectations. Meanwhile, gold prices fell back below $4,000 per ounce as the Israel-Hamas ceasefire reduced demand for safe-haven assets.

U.S. Futures Edge Higher

At 02:42 ET, Dow Jones Industrial Average futures were up 68 points (0.2%), S&P 500 futures added 11 points (0.2%), and Nasdaq 100 futures gained 54 points (0.2%).

The previous trading day saw U.S. stocks under pressure as investors weighed the ongoing government shutdown against enthusiasm for artificial intelligence. Some analysts have raised concerns about the sustainability of AI-driven dealmaking, though the sector continues to attract significant capital inflows.

Markets also reacted to earnings from PepsiCo, Inc. (NASDAQ:PEP) and Delta Air Lines (NYSE:DAL), both of which posted stronger-than-expected results and saw their shares climb.

Michigan Consumer Sentiment in the Spotlight

The government shutdown has delayed major economic data releases, leaving investors with fewer signals to gauge the health of the U.S. economy. If the political stalemate continues, upcoming inflation data could also be pushed back.

The Federal Reserve System cut rates by 25 basis points last month and has indicated it may ease further this year, but with fewer official data points available, its decision-making process could become more challenging. As a result, investors are paying closer attention to alternative indicators, including the University of Michigan’s survey on consumer sentiment and inflation expectations, which will be released Friday.

Applied Digital Surges After Beating Revenue Forecasts

Shares of Applied Digital rallied in extended trading after the company reported fiscal first-quarter revenue of $64.2 million, up 84% year-over-year and well above the $50 million expected, according to LSEG data. Its quarterly loss of $0.03 per share was narrower than analysts projected.

The company continues to benefit from surging demand for AI infrastructure. In August, Applied Digital signed a lease agreement with CoreWeave, and analysts expect additional contracts to follow before the end of the year.

Levi Strauss Raises Forecast, But Stock Drops

Levi Strauss posted third-quarter earnings of $0.34 per share, beating analyst estimates of $0.30. Revenue rose to $1.54 billion from $1.50 billion a year earlier, also ahead of expectations. The company lifted its full-year earnings guidance to $1.27–$1.32 per share and increased its forecast for net revenue and organic growth.

Despite these positive results, Levi’s stock fell more than 6% after the close. Analysts at Vital Knowledge commented that while the company “continues to execute very well in a tough macro environment,” expectations were “fairly high” going into the results, “which might explain some of the knee-jerk disappointment.”

Gold Slides Below $4,000 on Ceasefire

Gold prices pulled back from record highs as easing geopolitical tensions lowered safe-haven demand. The ceasefire between Israel and Hamas, brokered by U.S. President Donald Trump, was approved by Israel’s government on Friday and is expected to help end the conflict in Gaza.

Spot gold fell 0.3% to $3,965.93 per ounce by 03:44 ET, while December futures edged up 0.2% to $3,978.52/oz. Gold briefly broke above $4,000 earlier this week for the first time in history. A stronger U.S. dollar, supported by weakness in the yen and euro and uncertainty over interest rates, added further pressure on precious metals.

Applied Digital stock price

Levi Strauss & Co stock price

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