Stock futures fall after record week

US equity futures were trading at a day’s low after the S&P 500 and Nasdaq record closes.

The major futures index suggested a 0.6% drop as the opening bell rang.

Click Here To Get Fox Trade On The Go

Asian stock markets retreated on Friday after a resurgence of coronovirus infections in China and an increase in cases in Southeast Asia.

Nikkei 225 fell 0.4% in Tokyo, Hang Seng 1.6% in Hong Kong and China’s Shanghai Composite Index fell 0.4%.

In Europe, London’s FTSE fell 0.4%, Germany’s DAX 0.5% and France’s CAC fell 0.6%.

There are large numbers in the US that traders are looking at will be the current home sales for December. The National Association of Realtors was expected to say that sales of previously owned homes slipped 2% month-over-month at an annual adjusted rate of 6.69 million to 6.55 million units in November.

Reducing tight market conditions as members of the household

The first week of the earnings season coincides with a trio of reporting financial names on Friday mornings: Allied Financial, Sector Financial and Huntington Bancheres.

Other reporting companies will be energy equipment and services giant Scalember, and Rail Kansas City Southern.

The anchor Security last Change Change %
Me: DJI Dow jones average 31176.01 -12.37 -0.04%
SP 500 S&P 500 3853.07 +1.22 + 0.03%
I: COMP NASDAQ Composite Index 13530.914939 +73.67 + 0.55%

On Thursday, the benchmark S&P 500 index closed down 0.1% at 3,853.07 and the Dow Jones Industrial Average closed down 0.1% at 31,176.01.

Tech-heavy Nasdaq Composite rose 0.6% to 13,530.91 after traders bid on Big Tech shares, including Apple, Amazon and Facebook. This helped reduce losses in energy, banks and other stocks.

Stocks have risen on optimism, the rollout of vaccines developed by US, European and Chinese pharmaceutical companies will allow economies to return to normalcy.

BIDEN’s $ 1.9T Coronavirus Relief Package ‘Good Step’: Economist Mark Zandi

The market is also boosted by the inauguration of President Biden, who has proposed a $ 1.9 trillion economic aid package, including a $ 1,400 cash payment for most Americans.

Read more on Fox Business

Benchmark US crude in electronic trading fell 87 cents to $ 52.26 a barrel on the New York Mercantile Exchange. The contract fell 11 cents to $ 53.13 on Thursday. Brent crude, the price standard for international oils, shed 81 cents to $ 55.29 a barrel in London. It rose 2 cents to $ 56.10 a barrel in the previous session.

The Associated Press contributed to this report.

Leave a Reply

Your email address will not be published.