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Strategic Wealth Partners President and CEO Mark Tepper discusses inflation and provides investment advice.
US equity futures have suggested a higher open when Friday’s session begins on Wall Street.
The major futures indices appear to add 0.2% to the opening bell.
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The big number to watch will be existing home sales for December. The National Association of Realtors was expected to say that sales of previously owned homes slipped 1.5% month over month to a seasonally adjusted annual rate of 6.61 million units, down from the stronger-than-expected December reading of 6.76 million.
In Europe, London’s FTSE was down 0.2%, Germany’s DAX added 0.5% and France’s CAC gained 0.5%.
In Asia, Tokyo’s Nikkei 225 index fell 0.7%, Hong Kong’s Hang Seng fell 0.2%, and China’s Shanghai Composite Index fell 0.6%.
| Teleprinter | security | Latest | Change | Change% |
|---|---|---|---|---|
| I: DJI | MEDIUM DOW JONES | 31,493.34 | -119.68 | -0.38% |
| SP500 | S&P 500 | 3913.97 | -17.36 | -0.44% |
| I: COMP | NASDAQ COMPOSITE INDEX | 13865.35594 | -100.14 | -0.72% |
On Thursday, the S&P 500 fell 0.4% for its third consecutive daily decline. The Dow Jones Industrial Average lost 0.4% to 31,493.34. The Nasdaq Composite fell 0.7%.
Shares retreated after the US government reported 861,000 people applied for unemployment benefits last week. The minutes of the last Federal Reserve meeting showed central bank officials believe the coronavirus pandemic still poses significant risks to the economy.
ANOTHER 861,000 AMERICANS DEPOSITED FOR UNEMPLOYMENT BENEFITS LAST WEEK
In Washington, Treasury Secretary Janet Yellen urged Congress to avoid cutting President Biden’s proposed aid package to $ 1.9 trillion. She said the economy was in “a deep hole” despite signs of improvement.
As for stocks, component Dow Walmart Inc. posted mixed quarterly results and said it still plans to raise the wages of an additional 425,000 workers above $ 15 an hour. The company said sales in U.S. stores were up 8.6% year-over-year, excluding fuel. The shares fell 6.5%.
GAMESTOP HEARING PUT HEDGE FUNDS ON THE HOT SEAT
GameStop shares fell 11.4% on Thursday. Congress held a hearing on recent corporate volatility in a standoff between Wall Street institutional investors betting against the companies and online retail investors who have pushed stocks higher.
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In energy markets, benchmark US crude fell $ 1.45 per barrel to $ 59.07 electronically on the New York Mercantile Exchange. The contract fell 62 cents Thursday to close at $ 60.52. Brent, used for the price of international oils, fell from $ 1.20 to $ 62.75 per barrel in London. It lost 41 cents the previous session to $ 63.93.
The Associated Press contributed to this report.
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