Dow futures jump more than 100 points after major averages snap 3-day losing streak
May 14, 2021 @ 07:59 +03:00
U.S. stock futures were higher in early morning trading on Friday, after all three major averages snapped three-day losing streaks. Futures contracts tied to the Dow Jones Industrial Average jumped 129 points. S&P 500 futures and Nasdaq 100 futures also traded in positive territory. During regular trading, the Dow advanced 434 points for a gain of 1.29%. The S&P 500 and Nasdaq Composite gained 1.22% and 0.72%, respectively.
Still, despite Thursday’s strong session, the major averages are on track for hefty losses for the week as inflation fears hit sentiment. The Dow is down 2.18% for the week, while the S&P has shed 2.84%. Tech stocks have been hit especially hard, pulling the Nasdaq down 4.56% for the week.
The Centers for Disease Control and Prevention eased guidelines on Thursday, saying that in most settings fully vaccinated people don’t need to wear masks indoors or outdoors. Stocks most exposed to the ongoing recovery rebounded on the heels of the announcement, with the NYSE Arca Airline Index finishing the day nearly 2% higher.
The market’s volatility this week comes as economic data points to inflation. The Consumer Price Index jumped 4.2% from a year earlier in April, which was the fastest rate since 2008. This has sparked fears that the Federal Reserve could be forced to dial back its accommodative monetary policy.
Dow futures jump more than 100 points after major averages snap 3-day losing streak, CNBC, May 14