There are some notable exceptions — such as Coach and Swiss shoemaker On, which saw growth across all consumer segments — but shoppers' pullback could portend a rocky holiday retail period ahead. Investors will get more insight from next week's earnings reports, which include some of the biggest retailers: Walmart, Target, Gap and Home Depot.

Is this the healthy pullback needed, or a sign of trouble ahead? The two biggest forces that have powered the stock markets record-setting rally are under attack.

Here are some of the stocks making notable moves in Thursday's premarket action: Cisco Systems shares are up nearly 7% after the network-equipment and services group [delivered a strong earnings beat

Range reports on market momentum and fundamentals, urging caution as signs of speculation and volatility emerge despite strong YTD gains.

Consumer goods conglomerate Spectrum Brands ( SPB +9.79%) had a mixed fiscal fourth quarter of 2025 as detailed in the earnings release it published Thursday morning. Investors clearly chose to focus on the crushing net-income beat rather than the revenue miss, as they drove the company's stock price up by almost 10% during that trading session.

The tech-heavy Nasdaq Composite netted the most losses with a 2.5% slump, while the S&P 500 sank 1.8% as of publishing. The Dow closed with an 809 point loss, or 1.7%.

Major U.S. stock benchmarks were mixed in late afternoon trading Friday, with the S&P 500 barely in positive territory.

Stock futures have inched up following the market's worst day in over a month, erasing weeks of gains and pulling back from record highs.