The main US index futures were little changed on Thursday as fears return after Wednesday’s sharp rises. Investors will have to contend with more Fed speeches while corporate news remains fairly light.
On Wednesday, US stocks opened mostly higher, staying above the unchanged line for most of the session before closing significantly higher.
The gains helped the Nasdaq Composite break a seven-day losing streak, the longest since 2016. Part of the upbeat sentiment was due to the fall in US Treasury yields. Yields on the benchmark 10-year Treasury fell to 3.265% from 3.34% on Tuesday, apparently as investors priced in an easing of inflationary pressures.
However, Fed officials maintained their hawkish stance and signaled that further rate hikes could be on the cards.
adopt a different attitude Invest Ark founder Cathie Wood warned the central bank could make a mistake if it acts hastily and aggressively to stem two-year COVID supply shock inflation. She indicated that we could enter a deflationary environment by the end of the year.
| index | Performance (+/-) | value | |
|---|---|---|---|
| Nasdaq Composite | +2.14% | 11,791.90 | |
| S&P 500 Index | +1.83% | 3,979.87 | |
| Dow Industrials | +1.40% | 31,581.28 |
Here’s an inside look at index futures trading:
| index | Performance (+/-) | |
|---|---|---|
| Nasdaq 100 futures | -0.01% | |
| S&P 500 futures | +0.03% | |
| Dow futures | +0.03% | |
| R2K futures | -0.59% |
In premarket trading on Thursday, Dec SPDR S&P 500 ETF Trust SPY rose 0.03% to $397.91 and the Invesco QQQ TrustQQQ rose 0.03% to $299.05 Benzinga Pro data.
Fed officials take center stage again on Thursday. Fed Chairman Jerome Powell is to speak on the topic “The state of monetary policy after 40 years”…
