The Bottom Is in for These 2 Stocks, According to Traders

Most workers look forward to Friday, but Wall Street seemed not to be too excited about ending the week. Stock index futures were lower as investors feared that new economic data might further support the Federal Reserve's aggressive campaign of interest rate hikes. As of 8 a.m. ET, it appeared that the Dow Jones Industrial Average (DJINDICES: ^DJI) could fall as much as 200 points at the open.

However, even with markets getting jittery, a couple of companies had positive news that suggested to some shareholders that the stocks might finally have put in a bottom. The latest financial results from Block (NYSE: SQ) and Farfetch (NYSE: FTCH) weren't entirely favorable, but they did inspire more confidence about their longer-term prospects.

Shares of Block rose 6% in premarket trading on Friday morning. The electronic payments specialist reported fourth-quarter financial results that showed signs of a light at the end of the crypto winter tunnel.

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Source Fool.com