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US stock indexes on Thursday expected a rebound shy after a wave of late sales that canceled all gains of the Dow and the S & P 500 and placed the Nasdaq in territory correction for the first time in two years.
Wall Street has fought a panoply of fears that have deeply disrupted the market, including a slowdown in the global economy, the Federal Reserve's tendency to raise rates and expectations of lower than expected results.
How are the main landmarks?
Futures for the Dow Jones Industrial Average
YMZ8, + 0.74%
were up 191 points, or 0.9%, to 24,781, those in the S & P 500 Index
ESZ8, + 0.81%
earned 23.20 points, or 0.9%, at 2,687.50, while the Nasdaq-100 futures contracts
NQZ8, + 1.42%
were up 113.25 points to 6.950, a return of 1.6%.
Wednesday, the Dow
DJIA, -2.41%
down 606.11 points, or 2.4%, to 24,583.42, the S & P 500 index
SPX, -3.09%
fell 84.59 points, or 3.1%, to 2,656.10, his sixth straight loss. Meanwhile, the Nasdaq composite index
COMP -4.43%
lost 329.14 points, or 4.4%, to 7108.4, a performance that put the index more than 10% below the record level of August 29, which is the widely used definition of market. The loss also marked the worst day for Nasdaq since August 18, 2011.
So far in October, the S & P lost 8.9%, the Dow is down 7.1% and the Nasdaq has dropped 11.7% for the month.
Wednesday's session also caused the Dow Jones to lose ground for the year, falling 0.6% in 2018. The blue-chip index also fell for five consecutive weeks, its longest run weekly losses since July 11, 2008, when the market fell for six consecutive weeks.
The S & P 500 also closed the day trading in the red, down 0.7% since the beginning of the year.
DJIA, -2.41%
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What motivated the market?
Market sentiment looks less bleak after Wednesday's disappointing losses, but uncertainty still prevails as investors worry about worries about global growth and changes in global monetary policy, as Wall Street tries to stop the losses in October.
A solid quarterly report, like that of Tesla Inc., could offer minimal relief to investors as they turn to a policy update and press conference from the European Central Bank. The ECB will release its policy statement at 7:45 am ET, followed by a press conference hosted by its chairman, Mario Draghi, at 8:30 am.
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What stocks are under discussion?
Actions of Tesla Inc.
TSLA, -1.92%
more and more than 10% of pre-market sales after the electric car manufacturer realized the largest quarterly profit in the company's history.
Wall Street traders will also digest a glut of quarterly earnings, including Merck & Co. Inc.
MRK, -2.16%
and ConocoPhillips
COP, -5.10%
before the bell and Amazon.com Inc.
AMZN, -5.91%
after the regular trading session.
What do the analysts say?
"In summary, we believe that softening the effects of fiscal stimulus and the tightening of the Fed's monetary policy will soon begin to weigh on the US economy," according to a study report released by analysts on Thursday. Capital Economics.
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What data are developed?
- A report on weekly jobless claims is expected at 8:30 am, Eastern time.
- At the same time, a reading of durable goods orders for September is expected as well as basic capital expenditure orders.
- A report on the trade in goods in advance for September is also expected at 8:30.
- Data on future home sales are scheduled for September at 10 am.
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