Skip to main content

US STOCKS-Futures flat, indexes on track to close week lower

U.S. stock index futures were little changed on Friday, though recent weakness was enough to put the Dow and S&P 500 on track for their first weekly decline after three consecutive weeks of gains.

* While both the Dow and S&P hit a series of record highs this week, Wall Street has lately been pressured by concerns of slowing global growth and ongoing violence in Iraq, which has taken oil prices to their highest since September.

* The S&P has fallen for three straight days, its longest streak of declines since early April. However, it has dropped just 1.1 percent over that period, and many view the market's recent trend upward as intact.

* Technology shares will be in focus a day after Intel Corp raised its full-year revenue outlook, citing stronger-than-expected demand for personal computers used by businesses. Shares of the Dow component rose 4.7 percent to $29.27 in premarket trading.

* Another positive catalyst may come at 9:55 a.m. EDT (1355 GMT), with the preliminary read on June consumer sentiment from the Thomson Reuters/University of Michigan Surveys of Consumers. The index is seen rising to 83 from 81.9 in the previous report.

* S&P 500 futures fell 2.9 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 29 points and Nasdaq 100 futures slid 3.25 points.

* For the week, the Dow is down 1.1 percent, the S&P is down 1 percent, and the Nasdaq is down 0.6 percent. The Dow and S&P have risen for three straight weeks; Nasdaq has risen for four.

* The CBOE Volatility index is up 10.2 percent on the week, its first weekly rise following eight weeks of declines. Despite the spike, the so-called 'fear index' remains well below its historical average.

* Crude prices will continue to be in focus, rising 0.6 percent to $107.12 per barrel on Friday. While the price of oil has spiked 2.6 percent over the past three days, most analysts said it would need to be sharply above $115 per barrel for a protracted period before it becomes a major headwind to economic growth. Still, energy companies may attract more action as prices fluctuate.

* In Iraq, Islamist rebel fighters captured two more Iraqi towns overnight as they moved towards Baghdad. U.S. President Barack Obama responded by threatening military strikes, adding to the market's geopolitical concern; selling accelerated on Thursday after his comments.

* In company news, Tesla Motors Inc late Thursday said it would allow others to use its intellectual property in the hopes of speeding up development of electric cars by all manufacturers. Shares rose 0.7 percent to $205 before the bell.

* Finisar Corp plunged 22 percent to $19.75 in premarket trading a day after forecasting weaker-than-expected earnings, citing higher capital expenditure in China. (Editing by Bernadette Baum)

Popular posts from this blog

Study Abroad USA, College of Charleston, Popular Courses, Alumni

Thinking for Study Abroad USA. School of Charleston, the wonderful grounds is situated in the actual middle of a verifiable city - Charleston. Get snatched up by the wonderful and customary engineering, beautiful pathways, or look at the advanced steel and glass building which houses the School of Business. The grounds additionally gives students simple admittance to a few major tech organizations like Amazon's CreateSpace, Google, TwitPic, and so on. The school offers students nearby as well as off-grounds convenience going from completely outfitted home lobbies to memorable homes. It is prepared to offer different types of assistance and facilities like clubs, associations, sporting exercises, support administrations, etc. To put it plainly, the school grounds is rising with energy and there will never be a dull second for students at the College of Charleston. Concentrate on Abroad USA is improving and remunerating for your future. The energetic grounds likewise houses various

Best MBA Online Colleges in the USA

“Opportunities never open, instead we create them for us”. Beginning with this amazing saying, let’s unbox today’s knowledge. Love Business and marketing? Want to make a high-paid career in business administration? Well, if yes, then mate, we have got you something amazing to do!   We all imagine an effortless future with a cozy house and a laptop. Well, well! You can make this happen. Today, with this guide, we will be exploring some of the top-notch online MBA universities and institutes in the USA. Let’s get started! Why learn Online MBA from the USA? Access to More Options This online era has given a second chance to children who want to reflect on their careers while managing their hectic schedules. In this, the internet has played a very crucial in rejuvenating schools, institutes, and colleges to give the best education to students across the globe. Graduating with Less Debt Regular classes from high reputed institutes often charge heavy tuition fees. However onl

Sickening moment maskless 'Karen' COUGHS in the face of grocery store customer, then claims she doesn't have to wear a mask because she 'isn't sick'

A woman was captured on camera following a customer through a supermarket as she coughs on her after claiming she does not need a mask because she is not sick.  Video of the incident, which has garnered hundreds of thousands of views on Twitter alone, allegedly took place in a Su per Saver in Lincoln, Nebraska according to Twitter user @davenewworld_2. In it, an unidentified woman was captured dramatically coughing as she smiles saying 'Excuse me! I'm coming through' in the direction of the customer recording her. Scroll down for video An unidentified woman was captured dramatically coughing as she smiles saying 'Excuse me! I'm coming through' in the direction of a woman recording her A woman was captured on camera following a customer as she coughs on her in a supermarket without a mask on claiming she does not need one because she is not sick @chaiteabugz #karen #covid #karens #karensgonewild #karensalert #masks we were just wearing a mask at the store. ¿ o