Futures Mixed as Dow Ends 4-Day Win Streak



Stock futures were mixed in early trading on Friday after another selloff on Wall Street led by major technology names.

Futures for Dow Jones Industrials lost 38 points, or 0.1%, early Friday, to 27,781.

Futures for the S&P 500 nicked higher 1.75 points, or 0.1%, at 3,352.75.

Futures for the NASDAQ Composite gained 42.25 points, or 0.4%, to 11,117.50.

During Thursday’s regular trading session, the S&P 500 declined 0.8% for its biggest drop in a week. The Dow dipped 130 points, snapping a four-day winning streak. The tech-heavy NASDAQ fell 1.3% and briefly dipped back into correction territory, down 10% from its record high.

Some of the biggest technology stocks have suffered double-digit losses so far this month as investors rotated out of high-flying market leaders. Amazon, Microsoft, Facebook and Apple have all lost at least 10% this month.

Investors also remained on edge about the outlook on further coronavirus stimulus as well as the timing of a viable vaccine.

Republicans and Democrats are still struggling to agree on how much aid to continue to provide in a follow-up bill to the previous $2-trillion package. President Donald Trump said Wednesday he liked “the larger numbers,” urging GOP lawmakers to go for a bigger coronavirus stimulus, but his comments left Republicans skeptical.

Meanwhile, the path to a Covid-19 vaccine, which is critical to the economic recovery, still seems unclear. Health officials said vaccinations would be in limited quantities this year and not widely distributed for six to nine months.

Overseas, in Japan, the Nikkei 225 tacked on 0.2% Friday, while in Hong Kong, the Hang Seng index improved 0.5%.

Oil prices dropped 37 cents to $40.60 U.S. a barrel.

Gold prices added five dollars to $1,954.90.