Stock futures rose on Friday morning as investors tried to settle for a January meeting amid financial worries and declining profits.
Futures tied to the Dow Jones Industrial Average rose 45 points, or 0.14%. S&P 500 and Nasdaq 100 futures gained 0.22% and 0.35%, respectively. Nordstrom it fell more than 5% in after-hours trading after announcing weak holiday sales and lowering forecasts for the end of the year. Netflix rose 7% after reporting higher-than-expected subscribers even though its quarterly earnings missed analysts’ estimates.
During Thursday’s session, the Dow and S&P 500 both closed lower for their third straight day of losses as business investment and economic indicators pointed to a slowdown in the economy. The Dow fell more than 252 points, or 0.76% and is now down 0.31% year to date. The S&P 500 shed 0.76% and the Nasdaq Composite lost 0.96%, but both indexes are positive for the year.
For the week, however, all three indexes are close to close. The Dow is down 3.67%, on track for its worst week since September. The S&P 500 is down more than 2.5% and has barely missed its weekly performance since December. The Nasdaq is down more than 2% and on pace to break a two-week winning streak.
“The market is very focused and doesn’t know how to react between market analysis that looks at the back of the Fed against the leading market indicators,” said Tim Seymour, founder and chief investment officer of Seymour Asset Management, on CNBC’s “Fast”. Money.”
Future indicators include economic data such as retail sales and industrial production. “This is where the market has started to go wrong,” he said.
Going forward, investors will continue to watch the earnings of SLB’s oil services business, Ally Financial said on Friday. They will also pay close attention to speeches by Fed officials ahead of the central bank’s meeting in February, looking for clues about the extent of possible rate hikes.