Dow Jones futures, along with S&P 500 futures and Nasdaq futures, were relatively unchanged after hours ahead of Fed Chief Jerome Powell's speech at the Jackson Hole symposium. The stock market rally attempt on Thursday was disrupted as major indexes reversed lower, with AI stocks such as Nvidia, Marvell Technology, and Adobe also experiencing reversals.
Stock futures remain near flat as August proves to be a challenging month for the market, with the Dow on pace to finish 2.8% lower and the S&P 500 and Nasdaq set for losses of 3.4% and 4.5% respectively.
S&P 500 and Nasdaq futures slipped as investors awaited data on inflation and non-farm payrolls to determine the Federal Reserve's interest rate path, while HP and Rite Aid saw declines due to trimming profit outlook and a downgrade, respectively.
Wall Street started the month of September on a high note after a rocky August, with Dow futures up by 127 points, S&P futures 0.3% higher, and Nasdaq futures up by about 0.15%, as investors await Friday's crucial jobs report which is expected to show that the labor market will stay in a sweet spot.
Stock futures are mixed as the market aims to maintain momentum in the holiday-shortened week, following an upbeat week for Wall Street with the Dow and the Nasdaq recording their best performances since July and the S&P 500 registering its best week since June.
Dow Jones futures, S&P 500 futures, and Nasdaq futures remained relatively stable, with the major indexes experiencing mixed sessions and the stock market rally suffering further damage, largely due to concerns over China impacting Apple and iPhone chipmakers.
Dow Jones futures, S&P 500 futures, and Nasdaq futures will open Sunday evening, with Apple and Oracle having significant news ahead and several stocks like Tesla, Roku, and Shopify being big Cathie Wood holdings near buy points; however, the stock market has had a tough week with major indexes falling below their 50-day lines and weak market breadth.
Dow Jones futures rose alongside S&P 500 futures and Nasdaq futures, with Tesla receiving an upgrade and price target hike, and Apple, Oracle, and Adobe having major news ahead. The stock market rally is under pressure, but there could be a change soon.
Dow Jones futures, as well as S&P 500 futures and Nasdaq futures, dropped after the Federal Reserve meeting, with the stock market retreating and breaking below critical levels due to the Fed's decision to stick with forecasts for one more rate hike this year and hinted that rates would stay higher for longer.
Summary: Dow Jones futures, S&P 500 futures, and Nasdaq futures all rose overnight, while the stock market correction continued with heavy losses as the 10-year Treasury yields surged, leading to the S&P 500 undercutting its August lows and the Nasdaq and Dow Jones coming close to doing the same.