Strategic Wealth Partners President and CEO Mark Tepper discusses inflation and gives investment advice.
U.S. stock futures suggested a bullish open when Friday’s session starts on Wall Street.
The main future indices appear to add 0.2% to the opening bell.
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The big number to be observed will be the sales of existing houses in December. The National Association of Realtors should say that sales of old homes fell 1.5% month-on-month to a seasonally adjusted annual rate of 6.61 million units, below the stronger-than-expected reading of December 6.76 million.
In Europe, London’s FTSE fell 0.2%, Germany’s DAX added 0.5% and France’s CAC gained 0.5%.
In Asia, the Nikkei 225 in Tokyo sank 0.7%, the Hang Seng in Hong Kong rose 0.2% and the Shanghai Composite Index of China rose 0.6%.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| I: DJI | DOW JONES AVERAGE | 31493.34 | -119.68 | -0.38% |
| SP500 | S&P 500 | 3913.97 | -17.36 | -0.44% |
| I: COMP | NASDAQ COMPOSITE INDEX | 13865.35594 | -100.14 | -0.72% |
On Thursday, the S&P 500 fell 0.4% for its third consecutive daily decline. The Dow Jones Industrial Average lost 0.4% to 31,493.34. The Nasdaq Composite fell 0.7%.
The stock dropped after the U.S. government said 861,000 people signed up for unemployment insurance last week. The minutes of the last Federal Reserve meeting showed that central bank officials believe that the coronavirus pandemic still poses considerable risks to the economy.
OTHER 861,000 AMERICANS REQUESTED FOR UNEMPLOYMENT BENEFITS IN THE LAST WEEK WEEK
In Washington, Treasury Secretary Janet Yellen urged Congress to avoid cutting the $ 1.9 trillion aid package proposed by President Biden. She said the economy is in “a deep hole”, despite signs of improvement.
In stocks, Dow’s component, Walmart Inc., reported mixed quarterly results and said it still plans to increase the pay of an additional 425,000 workers to more than $ 15 an hour. The company said sales at American stores increased 8.6% year over year, excluding fuel. The shares fell 6.5%.
GAMESTOP HEARING PUTS HEDGE FUNDS IN HOT HEADQUARTERS
GameStop’s shares fell 11.4% on Thursday. Congress held a hearing on the recent volatility of companies caught in a tug of war between institutional investors on Wall Street who bet against companies and online retail investors who pushed stocks up.
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In the energy markets, US benchmark oil fell $ 1.45 a barrel to $ 59.07 in e-commerce on the New York Mercantile Exchange. The contract lost 62 cents on Thursday to close at $ 60.52. Brent oil, used to price international oils, fell $ 1.20 to $ 62.75 a barrel in London. He poured 41 cents in the previous session for $ 63.93.
The Associated Press contributed to this report.