U.S. stock futures fell on Friday, putting the S&P 500 on track to end the week with modest gains after reaching its ninth record high of closing in 2021.
Futures contracts linked to the S&P 500 fell 0.3%, pointing to a decline after the opening bell. Contracts linked to the Nasdaq-100 index fell 0.3%, suggesting that technology stocks may also fall.
The shares are upbeat this week. Hopes about a new round of stimulus spending by President Biden’s government and the launch of vaccines have spiked markets for much of this year. The Federal Reserve also promised this week to continue with loose monetary policy until the economy is on a stronger basis.
At the same time, concerns about valuable stock valuations, still high levels of coronavirus infection, new variants of the virus and obstacles faced by vaccination programs in many countries are giving some investors a break.
“In the short term, it is not yet clear when the blockages will end and whether consumers will rush out to spend on travel and entertainment when they are free to do so,” said Willem Sels, chief investment officer at HSBC Private Banking and Wealth Management.