Stock futures were flat ahead of Friday’s session as the Dow Jones Industrial Average headed for its fifth straight losing week amid Russia’s invasion of Ukraine.
Dow Jones Industrial Average futures rose 50 points. S&P 500 futures rose 0.2% and Nasdaq 100 futures were little changed.
The Dow Jones Industrial Average fell 112.18 points to 33,174.07 in regular trade Thursday, after climbing more than 650 points in the previous session, while the S&P 500 lost 0.4%. The tech-heavy Nasdaq Composite fell 1% to 13,129.96, dragged down by losses in Apple and Meta Platforms.
Week to date, the Dow is down 1.31% and heading into its fifth straight negative week since May 2019. Meanwhile, the S&P is down 1.60% and the Nasdaq is down 1. 38% this week.
The losses came as talks between Russia and Ukraine stalled with no progress on a ceasefire or passage for civilians trying to flee the city of Mariupol. Markets have fluctuated in recent weeks as investors weigh the fallout from the Russia-Ukraine conflict.
Meanwhile, oil prices, which have been volatile amid the dispute, fell again on Thursday, with West Texas Intermediate crude slipping to around $106 a barrel. Brent crude fell 1% to around $109 a barrel. Commodities, including gold and silver, which rallied amid the war in Ukraine, gained 0.61% and 1.70% respectively.
“History from an investment perspective is on our long-term side,” Stephanie Link, Hightower’s chief investment strategist, told CNBC’s “Closing Bell” on Thursday. “The market can recover, and I think we will eventually. We’ll have to see how long it lasts, but eventually the market will recover.”
Thursday’s inflation report showed the consumer price index hit 7.9% in February, a new 40-year high. That was slightly higher than the 7.8% expected for the year, according to Dow Jones estimates. The CPI rose 0.8% month-on-month, above estimates of 0.7% for the month.
Rivian shares fell more than 11% in extended trading after missing estimates for the fourth quarter on the top and bottom lines, while DocuSign fell 18% after posting weak guidance for the first. quarter and fiscal year.
Stock futures flat as Dow heads for fifth straight week of losses amid Russian-Ukrainian war
Source link Stock futures flat as Dow heads for fifth straight week of losses amid Russian-Ukrainian war