June 13, 2024

Dow futures will rise after key averages follow the 3-day losing streak

2 min read

The US stock index futures changed slightly in overnight trading on Thursday after falling three key averages. Three day loss lines To complete the day more.

Futures contracted to the Dow Jones Industrial Average gained 18 points. The S&P 500 futures advanced 0.08%, while the Nasdaq 100 futures fell slightly.

During regular trading, Dow advanced 434 points to 1.4%. The S&P 500 and Nasdaq Composite gained 1.22% and 0.72%, respectively.

However, despite the strong session on Thursday, inflation fears hit the sentiment, with major averages for major losses during the week.

The Dow was down 2.18% during the week, while the S&P was down 2.84%. Technology stocks were particularly hard hit, with the Nasdaq down 4.56% during the week.

“Higher inflation will attract attention as the post-epidemic recovery accelerates,” said Mark Heffel, chief investment officer at UPS Global Wealth Management. “But we expect inflation fears to create volatility, and we continue to push for inflation, and we see market changes like this as an opportunity to create exposure for structural winners.”

Centers for Disease Control and Prevention Thursday relaxed the guidelines, Most organizations claim that fully vaccinated people do not need to wear masks indoors or outdoors.

The most exposed stocks to the current recovery rose again in the wake of the announcement NYSE Arca Flight Code The day ended almost 2% higher.

The market has been volatile this week as economic data points to inflation. Consumer price index It was 4.2% higher in April than the previous yearThis is the fastest rate since 2008. This has sparked fears that the Federal Reserve may be forced to re-dial its accommodation monetary policy.

However, the earnings season is stronger than expected and some believe there is more room to run in this bull market and investors should take advantage of any downturn.

“Corporate earnings are strong enough to drive market growth, even as bond yields rise in anticipation of a tightening of the central bank,” said Robert Buckland, Citi’s stock strategist. “So buy any short-term tips we can find now. There’s a time to be more cautious, but it may be next year, it’s not.”

Retail sales figures for April with industrial production and consumer sentiment numbers will be released on Friday.

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