Market Overview

Dow futures rise 150 points as Wall Street tries to recover from Thursday’s drop

Stock futures climbed higher early Friday morning following a volatile session that snapped a four-day winning streak for one of the major averages. Dow Jones Industrial Average futures rose 150 points, indicating an 85-point gain at the open. The S&P 500 futures gained 0.5%, while the Nasdaq-100 futures traded 0.9% higher.

During regular trading, the Dow slid 135 points, or 0.5%, to post is first daily decline in five days. The S&P 500 and Nasdaq Composite dipped 0.3% and 0.7%, respectively. Those losses came amid a mixed batch of U.S. economic data. Initial weekly jobless claims rose by 1.3 million in the week ending July 11. Economists polled by Dow Jones expected a gain of 1.25 million.

Meanwhile, retail sales jumped 7.5% last month, topping a Dow Jones forecast of a 5.2% gain. June’s sharp gains come after sales surged by a record 17.7% in May. More than 3.5 million coronavirus cases have been confirmed in the U.S., according to Johns Hopkins University. Some states, including California, Florida and Texas, have had to roll back reopening measures to curb a recent spike in cases.

Dow futures rise 150 points as Wall Street tries to recover from Thursday’s drop, CNBC, Jul 17

Article Rating