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US stock indexes were poised to recover some of the leanest losses accumulated in the last two sessions, following a persistent sell-off for previously rising technology stocks and oil losses.
US financial markets will be closed Thursday for the Thanksgiving holiday and Friday will be closed early.
What is the performance of benchmarks?
Futures for the Dow Jones Industrial Average
YMZ8, + 0.54%
were up 115 points, or 0.5%, to 24,555. Futures on the S & P 500
ESZ8, + 0.63%
were up 14.60 points, or 0.6%, to 2.654.50, while Nasdaq-100 futures contracts
NQZ8, + 0.76%
increased by 52.75 points to reach 6 586.25, an increase of 0.8%.
Tuesday, the Dow
DJIA, -2.21%
fell 551.8 points, or 2.2%, to end at 24,465.64, and dropped 648 points to the low of the session. The S & P 500 index
SPX, -1.82%
closed with a loss of 48.84 points, or 1.8%, to 2,641.9, while the Nasdaq Composite Index
NQZ8, + 0.76%
paid 119.65 points to 6,908.82, a decrease of 1.7%.
Tuesday's decline overturned the cumulative gains of the Dow and S & P 500 indexes, while the Nasdaq now posts a 0.1% rise for 2018. Since the beginning of the year, the Nasdaq has dropped 5 , 4%, the S & P and Dow fell 2.6% November.
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According to Dow Jones Market Data, the descent of the S & P 500 from Monday to Tuesday is the worst since 1982, the ugliest since 1994 for the Dow and the steepest since the Nasdaq since 2000.
What motivates the market?
US investors were hoping for a respite to end Thanksgiving's worst week-long start in decades, with fears over valuation of technology and internet-related stocks, sluggish growth, Federal Reserve policy mistakes and uncertainty about the US-China trade relationship. swirling in the minds of investors.
Modest rises in crude oil prices had a quick positive impact on the energy sector. Data released on Tuesday temporarily eased growing worries over global overproduction, which has led to US oil prices.
CLF9, + 1.61%
deep in bearish territory, defined as a decline of at least 20% from a recent high.
In the future, investors will equate a host of economic reports to assess the health of the national economy after a series of reports on the housing market has reinforced the view that the rising benchmark interest rates eroded confidence in the housing sector.
What do the strategists say?
"The troubled stock markets of the United States are getting closer to Thanksgiving with a precious reward," wrote JR Zhou, chief market strategist at broker Infinox, in a note on Wednesday.
He pointed out that the continued weakness of its trading partners has diminished the strength of the US domestic economy and that "Federal Reserve hawks are at risk of becoming an albatross", which weighs on market sentiment and contributes to market volatility.
What data is ahead?
- A report on weekly jobless claims is expected at 8:30 am EST, with 215,000 claims expected, according to an average estimate of economists surveyed by MarketWatch.
- Durable goods orders (and major investment spending) for October are expected to fall by 3.4% at the same time
- Existing home sales for October are due at 10 am, with a forecast of 5.18 million home sales
- A reading of consumer sentiment in November is also planned for this period. Wall Street expects a reading of 98.3
- Leading economic indicators for October are expected at 10 am
What stock are under discussion
Deere & Co.
OF, -2.84%
stocks fell in pre-market trading after the OEM announced disappointing earnings in the third quarter. Shares were down 2.7% before the bell.
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