Stock futures fall slightly as S&P 500 tries to notch its best week since November 2020

Stock futures fall slightly as S&P 500 tries to notch its best week since November 2020


Stock futures dipped in overnight trading Thursday after a three-day rally for the S&P 500 as the equity benchmark is poised to post its biggest weekly gain in more than a year.

Futures on the Dow Jones Industrial Average fell 120 points. S&P 500 futures were down 0.4% and Nasdaq 100 futures traded 0.3% lower.

Stocks enjoyed a relief rally this week as the Federal Reserve’s decision to tighten policy largely met investor expectations. The S&P 500 has gained for three consecutive days this week, up 4.9%, on track for its best week since November 2020.

The blue-chip Dow is coming off a four-day winning streak, rising 4.7% for the week so far, and is also on pace for its biggest weekly gain since November 2020. The tech-heavy Nasdaq Composite is up 6% this week, headed for its best week since February 2021.

Earlier this week, the central bank hiked its benchmark interest rate for the first time since 2018 and signaled six more hikes this year.

“Fortunately, investor expectations for inflation over the next five years was brought down quite a bit, which, if sustained, will continue [to] be helpful for the Fed and the markets despite somewhat higher interest rates,” said John Vail, chief global strategist at Nikko Asset Management.

Investors continue to monitor news out of Ukraine and Russia as the war rages on. Russian attacks across Ukraine have resulted in numerous civilian deaths over the past day, Ukrainian officials said.

Russia was able to pay coupons on its sovereign bonds to some creditors, Reuters reported, citing sources. While uncertainty still persists, Russia may have been able to avoid a historic debt default for the time being.

On Thursday, West Texas Intermediate crude futures, the U.S. oil benchmark, jumped more than 8% and bounced back above $100 per barrel.

Shares of FedEx fell more than 1% in after-hours trading after the U.S. delivery firm posted a lower-than-expected quarterly profit amid labor shortages, while the pandemic also hurt its holiday revenue growth.

GameStop saw its shares dropping 10% in extended trading after the video game retailer reported an unexpected loss during the holiday quarter. The company said it will launch a new marketplace for non-fungible tokens, or NFTs, by the end of April.



Source

Top economist Mohamed El-Erian breaks ranks with Wall Street and says Powell should resign to preserve Fed independence
World

Top economist Mohamed El-Erian breaks ranks with Wall Street and says Powell should resign to preserve Fed independence

President of Queens’ College of Cambridge University Mohamed El-Erian speaks during a panel discussion at the headquarters of the International Monetary Fund during the Annual Meetings of the IMF and World Bank in Washington, D.C., on Oct. 13, 2022. James Lawler Duggan | Reuters Mohamed El-Erian on Tuesday called for Federal Reserve Chair Jerome Powell […]

Read More
These charts show just how hard Trump’s tariffs are hitting Europe’s auto giants
World

These charts show just how hard Trump’s tariffs are hitting Europe’s auto giants

This photograph shows the front logo of a car at the new Citroen C5 Aircross’ production line in the Stellantis car maker plant in Chartres-de-Bretagne, near Rennes, western France, on July 3, 2025. Damien Meyer | Afp | Getty Images U.S. President Donald Trump’s tariffs on European car imports were always expected to hit hard […]

Read More
The race to roll out solid-state batteries is picking up steam again
World

The race to roll out solid-state batteries is picking up steam again

The race to revolutionize the science of electric vehicles (EVs) is heating up. Often touted as the ” holy grail ” of sustainable driving, solid-state batteries have long been stuck between theory and the promise of commercialization in the next five to 10 years. A recent flurry of announcements from major automakers and incumbent cell […]

Read More