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Stock futures rise as Wall Street tries to recover from Wednesday’s losses

Stock futures rose early Thursday morning as investors tried to recover from the previous session’s declines.

Futures on the Dow Jones Industrial Average climbed 150 points, or 0.4%. S&P 500 and Nasdaq 100 futures rose 0.6% each.

Streaming service Spotify rose 3.7% in extended trade, while KB Home fell 3.8%.

The moves come as NATO leaders meet in Brussels to try to find ways to put more pressure on Russia, as Ukraine appears to be regaining ground in the war. Oil prices also fell slightly, with U.S. crude trading down 0.5% at $114.35 a barrel.

Major averages took a breather on Wednesday as rising oil and commodity prices and the likelihood of larger interest rate hikes leave investors uncertain about the economic outlook for the end of the year.

The Dow Jones Industrial Average fell about 450 points, or 1.3%. The S&P 500 fell 1.2%. The Nasdaq Composite fell 1.3%.

“The idea of ​​having a soft landing was always going to be very difficult, and when you think about the added wrinkle of a complication from last month’s invasion of Russia, and the spike in commodity prices, it’s very difficult for the Fed to calibrate,” Michael Schumacher, head of macro strategy at Wells Fargo Securities, told CNBC’s “Fast Money” on Wednesday.

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On the data front Thursday, weekly jobless claims and durable goods orders data will be released at 8:30 a.m.

Darden Restaurants will release its results before the bell on Thursday.

Correction: This article has been updated to accurately reflect that KB Home shares have fallen in after-hours trading.

Stock futures rise as Wall Street tries to recover from Wednesday’s losses

Source link Stock futures rise as Wall Street tries to recover from Wednesday’s losses

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