On Thursday night the U.S. futures slipped after the decline of major averages.
Dow Jones industrial average futures decreased 46 points which are 0.1%.
S&P 500 decreased by 0.2% and Nasdaq 100 decreased by 0.4%.
During regular trading, the Dow Jones decreased by 431.20 points which are 1.26%. S&P 500 decreased by 1.38%. Nasdaq 100 decreased by 1.78%.
After January’s producer price index the losses have shown up, an inflation metric that tracks wholesale prices increased by 0.7%. Economists that Dow Jones surveyed expected a 0.4% increase.
The equity sellouts increased late in the day after which came comments from St. Louis Federal Reserve president James Bullard.
He said he backed a 50 basis point interest rate hike at the central bank’s previous meeting and that would not rule out a rate increase of that magnitude at the march meeting.
“I think the equity market is listening to data about the consumer that’s concurrent- that there’s retail spending that bounced back, that consumer confidence bounced back, and that services PMI bounced out of contraction. There are things to be happy about – the labor market is still tight,” Liz Young said.
Dow Jones decreased 0.51% for the week. The 30-stock index is on pace for the third week in a row and it has been negative all through.
Nasdaq has increased 1.18% for the week. S&P 500 has been flat.
Dow heads for a losing week, but Nasdaq remains in positive territory.
On a weekly basis, the stocks are mixed, following Thursday’s action.
Dow Jones has seen a decrease of 0.51%.
Nasdaq 100 has seen an increase of 1.18%.
S&P 500 is flat for the week.
Doordash the online food delivery platform shares increased 7% after it reported a revenue beat and upbeat guidance.
Texas Roadhouse the chain of restaurants shares decreased by 5%.
Shares of the biotech company Moderna decreased 6.7% after a mixed results report in clinical trials.
- Published By Team Nation Press News