Dow futures falls expecting macro-statistical data today
2022.12.22 08:02
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Dow futures falls expecting macro-statistical data today
Budrigannews.com – Due to chipmaker’s disappointing earnings, U.S. stocks are expected to open slightly lower on Thursday (NASDAQ:). affecting sentiment ahead of the release of important labor and growth data.
At 07:00 ET (12:00 GMT), the agreement was down 75 focuses or 0.2%, exchanged 8 focuses or 0.2% higher, and climbed 2 focuses or 0.2%.
After the close of trading on Wednesday, Micron reported a loss for the second quarter that was significantly higher than anticipated. Additionally, the company announced that it will lay off 10% of its employees the following year due to a significant supply-demand mismatch in the semiconductor market.
Premarket, Micron stock dropped 3%.
Wednesday’s positive close for the three major averages was aided by solid quarterly earnings from companies like sportswear giant (NYSE:), as well as a number that was higher than anticipated.
The broad-based gained 1.5%, the tech-heavy gained 1.5%, and the blue-chip gained over 500 points, or 1.6%.
Nonetheless, despite these gains, Wall Street has had a difficult year as a result of aggressively raising interest rates and stoking fears of a sudden slowdown in economic growth.
Breaking a three-year winning streak, the three main indices are all on track to record their worst annual performance since 2008.
Last week, the U.S. central bank increased interest rates by 50 basis points, slowing the rate increases. However, the central bank also said that its benchmark rate could rise above 5% before it was finished, which was higher than some predicted just a few months ago.
Investors will be looking for clues about how the economy is holding up in the face of interest rate increases in the economic data calendar on Thursday, which includes another print of the third quarter as well as a weekly.
CarMax (NYSE:), a used car retailer, is expected to report earnings in another piece of corporate news. while sports clothing retailer Under Shield (NYSE:) has appointed Stephanie Linnartz, the company’s current president (NASDAQ:), as its upcoming CEO.
Oil costs rose Thursday, moving for the fourth consecutive meeting after U.S. inventories information highlighted tight supplies in the greatest buyer on the planet in front of the movement weighty Christmas season.
According to official data released on Wednesday by the, crude stocks in the United States decreased by just under 6 million barrels in the week ending December 16.
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Helping the increases Thursday is the conjecture for a profound chill to hit huge pieces of the US, supporting the requirement for , with low temperatures expected as far south as Texas and Florida.
By 7:00 p.m. ET, the contract was up 1.9 percent to $83.79, while futures were trading at $79.77 a barrel.
Additionally, it traded 0.2% higher at 1.0619 despite falling 0.1% to $1,822.85/oz.
