Stock futures mostly fall as selling continues

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US equity futures trade in a blended fashion as the last trading day of the week approaches.

Dow futures suggest a decline of 0.1%.

Another drop in tech companies helped push stocks down on Wall Street on Thursday, extending the previous day’s losses.

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Markets will pay close attention to the University of Michigan preliminary consumer confidence index for September. It is expected to rise nearly a point to 75 from the final August reading of 74.1. The Conference Board will also release its leading economic index for August. Look for a 1.3% month-over-month increase, slightly behind the 1.4% increase in July.

Asian stocks were mostly higher on Friday, despite investor attention turning again to uncertainties in global economies amid the coronavirus pandemic.

On Friday, Japan’s benchmark Nikkei gained 0.2%, Hong Kong’s Hang Seng rose 0.5% and China’s Shanghai Composite rose 2.1%.

In Europe, London’s FTSE fell 0.3%, Germany’s DAX fell 0.1%, and France’s CAC fell 0.4%.

TeleprintersecurityLatestChangeChange%
I: DJIMEDIUM DOW JONES27901,98-130,40-0,47%
SP500S&P 5003357.01-28,48-0,84%
I: COMPINDEX COMPOSITE NASDAQ10910.27678-140,19-1,27%

While Wall Street suffered more losses on Thursday, sales eased towards the end of the day. The S&P 500 lost 28.48 points to 3357.01. The Dow Jones Industrial Average lost 130.40 points, or 0.5%, to 27,901.98. He had lost 384 points.

The Nasdaq composite, which is heavily weighted by technology stocks, slipped 140.19 points, or 1.3%, to 10,910.28.

The sell-off came a day after the Federal Reserve said it would keep interest rates near zero for years to support the booming economy. The statement did not encourage Wall Street and the S&P 500 recorded its first loss in four days on Wednesday.

The number of American workers claiming unemployment benefits has declined slowly, but it remains historically high. Such signs of a weaker recovery and a possible second wave of the virus are weighing on investors.

Another possibility of a downturn that the US market has taken over the past two days is the diminished chance that Congress will provide more aid to the economy anytime soon after the recent expiration of unemployment benefits and other measures. stimulus. Investors believe that such assistance is crucial for the recovery.

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In energy trading, benchmark US crude gained 6 cents to $ 41.03 a barrel. Brent, the international standard, added 11 cents to $ 43.41 a barrel.

The Associated Press contributed to this article.

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