U.S. stock futures on Friday were mostly lower, with the Dow and S&P 500 headed for weekly declines, as investors continue to digest the Federal Reserve's...
U.S. stock futures on Friday were trading mostly lower, with the Dow and S&P 500 headed for weekly declines, as investors continued to digest the Federal Reserve’s updated outlook for the economic recovery from COVID and inflation.
How are stock benchmarks trading? On Thursday, the Dow DJIA, -0.62% closed down 210.22 points, or 0.6%, at 33,823.45, marking a four-day skid, its longest since January. The S&P 500 SPX, -0.04% edged down 1.84 points, or less than 0.1%, to 4,221.86. The Nasdaq Composite COMP, +0.87% gained 121.67 points, or 0.9%, to 14,161.35.
Growing expectations that the U.S. central bank will raise rates as soon as 2023 has helped to yank equities down from record highs put in earlier this week by the S&P 500 and the Nasdaq Composite. “Although long-term real yields have dropped back a bit after their initial surge, we expect them to rise again in due course,” wrote Thomas Mathews, market economist at Capital Economics, in a Friday research report.
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