Stock futures were little changed as investors gauged the risk of an economic downturn

US stock futures were flat on Thursday Fifth straight day of losses for S&P 500 Wall Street weighed the possibility of a recession.

Dow Jones Industrial Average futures added 6 points, or less than 0.1%. S&P 500 futures added 0.1%, while Nasdaq 100 futures advanced 0.2%.

Shares Rent the runway It rose more than 17% in premarket trading. Online retailer Earnings topped expectations in its latest quarter With rising inflation, shoppers preferred to borrow designer clothes.

On Wednesday, the S&P 500 fell 0.19% for its fifth straight losing session. The Dow added nearly 1.58 points. Meanwhile, the Nasdaq composite fell 0.51%.

The Federal Reserve is expected to announce a 50 basis point interest rate hike next week. This is a smaller increase than the previous four rate hikes. However, investors are increasingly worried whether the central bank will be able to avoid a recession next year in an effort to reduce inflation.

“We’ve been waiting for earnings to fall, we’ve been waiting for CEOs to acknowledge the fact that a recession is looming, and here we are,” Liz Young, head of investment strategy at SoFi, said Wednesday. CNBC’s “Closing Bell: Overtime.”

“It’s hard for me to see how we won’t have it. But I think it will be a good thing if we end up with it,” Young added.

On the economic front, investors await the latest data on weekly jobless claims before Thursday. Economists polled by Dow Jones expected an estimate of 230,000, up slightly from the previous week’s total of 225,000.

See also  University of Virginia shooting: 3 dead, 2 injured, police search for suspect

Traders are looking forward to the latest earnings results Lululemon Athletica, Document identification, Broadcom And Costco After hours Thursday.

Leave a Reply

Your email address will not be published. Required fields are marked *