Stock futures were lower on Friday morning as investors continued to react to worries about a Fed rate hike and a potential economic slowdown.
The Nasdaq 100 was down 0.48%. Dow Jones industrial average futures fell 91 points, or 0.3%. S&P 500 futures rose 0.36%.
Costco The stock fell 2.6% in extended trading. Although the retailer posted fiscal fourth-quarter revenue and earnings that topped analysts’ expectations, it saw higher inventory and labor costs.
Brought it on Thursday Another day of losses As the market is poised to close below the week it opened. The Nasdaq composite was down 1.4% at 11,066.81. The S&P 500 fell 0.8% to 3,757.99, while the Dow Jones industrial average closed down 107.10 points at 30,076.68, a loss of 0.3%.
With the recent pullback, the Dow is up about 2.4% this week. Both the S&P and Nasdaq saw slightly sharper declines, falling 3% and 3.3%, respectively, week-to-date.
Bond revenue also continued Ascending upwardBoth the 2-year and 10-year Treasury notes hit their highest in more than a decade.
Industrials, consumer preferences, growth technology and semiconductors all suffered amid fears of easing growth in the economy. Meanwhile, defensive stocks outperformed.
“You’ve got this volatility that nobody can interfere with,” says Tim Lesko, senior wealth advisor at Mariner Wealth Advisors.
75 basis points and FedEx CEO Raj Subramaniam said more investors are beginning to accept that a recession may be on the horizon after the Fed’s decision this week. said on CNBC last week He hoped one would be soon. Once that happens, Lesko said, investors will react differently.
“At some point, they’ll figure out that a recession doesn’t mean the end of the world, and they’ll start being creative in stocks again,” he said. “But right now, we’re acting like the sky is falling.”