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US stocks should be under pressure on Friday, threatening to give up some of the rebound from the previous session during a week of intense volatility that pushed the main indices out of negative territory for the year.
How are the main landmarks?
Dow Jones Industrial Average – Futures Contracts
YMZ8, -0.80%
down 185 points, or 0.8%, to 24,690, while those in the S & P 500 index
ESZ8, -0.88%
fell 23.7 points, or 0.9%, to 2,664, and the Nasdaq-100 futures contracts
NQZ8, -1.26%
slipped 94.25 points, or 1.4%, to 6,832.25.
Thursday, the Dow Jones Industrial Average
DJIA, + 1.63%
399.95 points, or 1%, to 24,983, while the S & P 500 index
SPX, + 1.86%
increased by 49.46 points, or 1.2%, to finish at 2,705.57. The Nasdaq composite index
COMP + 2.95%
earned 209.93 points, finishing at 7,318.34, up 2.95%, posting its best performance in a day since March 26th.
The Dow fell more than 600 points on Wednesday, while the Nasdaq dropped more than 300 points, making the index a widely used definition of market correction and its worst day since August 18, 2011.
Thursday, the Dow was down 1.8%, the S & P 500 2.2% and Nasdaq 1.8%. For the month of October, the S & P lost 7.15%, the Dow Jones 5.57% and the Nasdaq yielded 9.05%.
Lily: Recall that stock market corrections do not always become bearish markets
What is the engine of the markets?
The stock pickup seemed fragile as investors were naturally cautious ahead of the weekend in the face of lingering worries over slowing global growth, rising interest rates and worries that they had already record profits for US companies.
The disappointing results of two of the largest technology-related companies did not help the mood. Amazon
AMZN, + 7.09%
posted a record profit on Thursday night, but its sales were disappointing and, above all, its fourth-quarter sales forecast – the biggest holiday shopping period – fell short of analysts' expectations. Shares slid more than 7% at the end of the session.
Lily: Record profit can not save Amazon from lower inventories
Parent Google Actions Alphabet Inc.
GOOGL, + 4.40%
Thursday's broadened session fell 4% after posting better-than-expected earnings, but income was missed.
Economic data could be a source of distraction on Friday, with third quarter gross domestic product expected just before opening at 8:30 am Eastern time, followed by a 10-hour consumer confidence index.
Trade concerns also raged after US officials said trade talks with China would not resume until Beijing made strong proposals on forced technology transfers and other economic problems.
How are other markets traded?
Asian stocks fell on Friday, driven by a 1% fall in Hong Kong's Hang Seng Index
HSI, -1.11%
and a decline of 0.8% for the Nikkei 225 index
NIK -0.40%
The Japanese index was on the verge of falling by 6% a week.
The yen
USDJPY, -0.36%
and gold prices
GCZ8, + 0.54%
were higher, indicating that investors were looking for shelters perceived to be safer. Oil price
CLZ8, -0.94%
were lower.
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