As investors evaluate the newest earnings reports, stock futures are unchanged: constant updates

 On Thursday night, there was little movement in U.S. stock futures. 

Nasdaq 100 futures rose 0.08%, while S&P 500 futures rose 0.05%. The Dow Jones Industrial Average futures rose 1 points, or 0.003%. 

After the trading session on Thursday, a number of corporations released their earnings. Following a dismal fiscal fourth-quarter report, the ride-hailing platform Lyft saw its shares plunge 30% in extended session. Expedia's shares also declined by 2% as a result of lower-than-expected earnings and revenue. 

The 30-stock Dow fell over 250 points during the regular trading session. The Nasdaq Composite experienced the biggest decline, plunging 1.02%, while the S&P 500 fell by 0.9%. The Nasdaq fell by more than 4% as a result of shares of Alphabet losing more than 4% of their value.

All significant averages are expected to end the week in the negative. This week, the Dow is down 0.6% while the S&P 500 is down 1.3%. The Nasdaq is hurting the most and is expected to drop 1.8% this week. 

Chief strategist for Solus Alternative Management Dan Greenhaus has conflicting views on what the most recent action would entail for the rest of 2023.

On CNBC's "Closing Bell: Overtime," he stated, "Historically, it is pretty unusual to see the S&P 500 itself this much above the 200-day moving average, this far into a bear market, and have it not be the end." 

Greenhaus noted that investors haven't been paying attention to the Federal Reserve's continued signals of a path towards tighter monetary policy. 

Post a Comment