"Futures are trading lower in front of the consumer price index report, as we head into the close of a rollercoaster week that saw a little of just about everything. After opening strongly on Thursday, stocks immediately rolled over. By the first hour mark, they were down sharply, and although stocks didn't close at the lows, they remained down for the rest of the session."
"With a variety of issues weighing on stocks and a big rotation out of technology after three years of double-digit gains, we could be setting up for a sizable correction. Losses were steep across the board Thursday, with the Nasdaq taking the biggest hit, closing down 2.04% at 22,597. The S&P 500 closed Thursday at 6,832, down 1.57%, and the Dow Jones Industrials were last at 49,451, down 1.34%. The small-cap Russell 2000 was also down more than 2% to 2,615."
"Yields plummeted across the Treasury yield curve as investors ran for the safety and security of guaranteed U.S. government paper. The rally was fueled by weak economic data, including rising jobless claims and declining job openings, which increased bets that the Federal Reserve will cut interest rates. However, with the solid jobs numbers earlier in the week, and if todays consumer price index numbers come in higher than expected all bets are likely off. The 30 year long bond closed at 4.74%, while the ten year nore closed at 4.10%."
Equity futures opened lower ahead of the consumer price index release after a volatile week that included a sharp midday rollover. Major indexes closed down on Thursday: the Nasdaq fell 2.04% to 22,597, the S&P 500 closed at 6,832 (down 1.57%), the Dow fell to 49,451 (down 1.34%), and the Russell 2000 slipped to about 2,615 (down over 2%). Treasury yields plunged as investors sought safe-haven U.S. government debt amid weak jobless claims and falling job openings, boosting bets on eventual Fed rate cuts; the 30-year was about 4.74% and the 10-year near 4.10%. Oil and energy stocks dropped after the IEA lowered its 2026 demand growth outlook, with Brent at $67.65 and WTI at $62.98, while natural gas rose to $3.21.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]