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Futures on Stocks Flat

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Futures on Stocks are Flat

In Friday’s early morning trading, stock futures edged up.

Futures for the Dow Jones Industrial Average rose 50 points, or 0.15%. Futures for the S&P 500 and Nasdaq 100 were each up 0.12% and 0.03%.

As December’s selloff resumed and expectations for a Santa Claus rally faded, markets had another down session, followed by the overnight movements. The Dow lost 348.99 points, or 1.05%. However, it finished well above the low of 803 point. The Nasdaq Composite fell 2.18%, and the S&P 500 fell 1.45%, respectively.

Losers were tech stocks. Shares of semiconductor stocks fell on concerns about Micron Technology’s declining demand. Concerns about declining demand caused Tesla to drop by nearly 9%. The S&P 500’s major sectors finished lower, with consumer discretionary as the main culprit.

These actions occurred as recession worries returned, dashed some investors’ expectations for a year-end rally. Investors worry that central banks will tighten too much, which could lead to a recession.

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