Market Snapshot: U.S. stock futures struggle to hold gains after GDP data

by | Jun 29, 2022 | Stock Market

U.S. stock futures struggled for direction on Wednesday, leaving Wall Street potentially on course for a third consecutive day of losses, as investors fret that soaring inflation is damaging the world’s biggest economy and battering corporate profits.How are stock-index futures trading?
S&P 500 index futures
ES00,
+0.01%
were little changed at 3,826.5

Dow Jones Industrial Average futures
YM00,
+0.16%
rose 60 points, or 0.3%, to 30,993

Nasdaq-100 futures
NQ00,
-0.12%
were virtually flat at -11,673

On Tuesday, the Dow Jones Industrial Average 
DJIA,
-1.56%
fell 491.27 points, or 1.6%, to end at 30,946.90. The S&P 500 
SPX,
-2.01%
fell 2% to close at 3,821.55. The Nasdaq Composite 
COMP,
-2.98%
dropped 3% to 11,181.50.

All three booked their worst daily percentage declines since June 16, according to Dow Jones Market Data.What’s driving markets? On U.S. economic data, the first-quarter GDP was revised to show 1.6% decline, compared with the prior 1.5% drop. Investors are also expecting Federal Reserve Chair Jerome Powell, European Central Bank President Christine Lagarde, Bank of England Gov. Andrew Bailey and Augustin Carstens, head of Bank for International Settlements, to speak at an ECB c …

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