Futures on Stocks are Flat
In Friday’s early morning trading, stock futures edged up.
Futures on the Dow Jones Industrial Average rose 50 point or 0.15%. Futures for the S&P 500 and Nasdaq 100 were each up 0.12% and 0.03%.
As December’s selloff resumed and expectations for a Santa Claus rally faded, markets had another down session, followed by the overnight movements. The Dow lost 348.99 points, or 1.05%. However, it finished well above the low of 803 point. The Nasdaq Composite fell 2.18%, and the S&P 500 fell 1.45%, respectively.
Tech stocks were among the losers, as semiconductor stock shares fell due to concerns about Micron Technology’s demand. Concerns about declining demand caused Tesla to drop by nearly 9%. The S&P 500’s major sectors finished lower, with consumer discretionary as the main culprit.
These actions occurred as recession worries returned, dashed some investors’ expectations for a year-end rally. Investors are worried that the central banks’ excessive tightening could cause a recession.
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