U.S. stock futures were indicating a mostly flat start in a shortened session for Wall Street on Friday. Attention is expected to focus on the start of the holiday shopping season and whether consumer resilience is holding up.
How are stock-index futures trading?
S&P 500 futures
rose 1.5 points to 4,034.50
Dow Jones Industrial Average futures
gained 19 points to 34,228
slipped 10 points to 11,853.
Markets were closed on Thursday in observance of the Thanksgiving Day holiday.
Equities finished higher for a second session on Wednesday, with the Dow industrials
rising 95.96 points, or 0.3%, to finish at 34,194.06. The S&P 500
gained 23.68 points, or 0.6%, to 4,027.26, while the Nasdaq Composite
advanced 110.91 points, or 1%, to end at 11,285.32.
What’s driving markets?
Markets rose Wednesday after the minutes of the November Federal Reserve meeting showed most policy makers expect a slower pace of interest rate increases ahead. A batch of economic data also indicated growth is also slowing down.
Investors are clinging to hopes that the Fed will pivot, or turn towards a less aggressive pace of rate hikes, amid concerns the economy is facing a tough 2023.
There is no data planned for Friday, which will mark a shortened session for Wall Street, with trading ending at 1 p.m. Eastern. But investors are facing a busy week ahead, with a large batch of data including third-quarter gross domestic product, the Fed’s favored inflation gauge, the PCE price index, home prices, manufacturing updates and November payrolls data.
The post-Thanksgiving trading day also kicks off the start of annual holiday shopping, known as Black Friday, which could put shares of Amazon.com
among others, in focus.
The bond market will also see a schedule similar to that of equities. U.S Treasury yields were little changed, with that of the two-year note
down 1 basis point to 4.467% and the yield on the 10-year note
steady at 3.691%.
Read the original article