Stock market today: live updates
US stock futures fell Thursday night after the S&P 500 ended a four-day losing streak.
Dow Jones Industrial Average futures fell 56 points, or 0.17%. S&P 500 and Nasdaq 100 futures fell 0.16% and 0.27% respectively.
Boeing actions slipped nearly 3% in extended trade after the company temporarily halted delivery of its 787 Dreamliners due to a fuselage issue.
In Thursday’s session, the S&P 500 advanced 0.53%. Meanwhile, the Dow Jones Industrial Average gained 108.82 points, or 0.33%, while the Nasdaq Composite rose 0.72%.
Even so, the major averages are heading for a losing week. The S&P 500 is down 1.64% through Thursday and is expected to have its worst week since Dec. 16. The Dow Jones is down almost 1.99% this week and is heading for its fourth consecutive week of losses. The Nasdaq is down 1.67% and on track for its second negative week in three.
Investors continue to worry about the pace of future interest rate hikes in the face of mixed economic signals. While inflation remains consistently high, the US consumer has continued to show strength.
“We’re still looking down the barrel of a gun that hasn’t figured out what the consumer may or may not have strength for the rest of the year, and what earnings are going to do for the rest of the year. And I think the stock market is too optimistic,” SoFi’s Liz Young said Thursday on CNBC’s “Halftime Report.”
On the economic front, investors expect January’s personal income and consumer spending data to provide better insight into the US consumer. both numbers are due out Friday before the bell.
Personal income is expected to have risen 1.2% last month, according to Dow Jones consensus estimates. That’s up from a 0.2% increase the previous month. Consumer spending is expected to rise 1.4% in January, compared to a 0.2% decline the previous month.
THE personal consumption expenditure price indexalso due Friday morning, is the Fed’s preferred inflation measure.
Traders also expect new home sales data at 10 a.m. ET. Economists polled by the Dow Jones expect new home sales rose 0.6% in January. That’s a smaller increase from the previous month’s 2.3% rise.