Market Snapshot: U.S. stock futures steady as inflation fallout fears resurface

by | Aug 18, 2022 | Stock Market

U.S. stock futures pointed to a sluggish start on Thursday as investor concerns about central bank rate hikes resurfaced.How are stock index futures trading
S&P 500 futures
ES00,
+0.13%
dipped 5 points, or 0.1%, to 4271

Dow Jones Industrial Average futures
YM00,
+0.09%
fell 13 points, or 0.1%, to 33950

Nasdaq 100 futures
NQ00,
+0.16%
eased 8 points, or 0.1%, to 13486

On Wednesday, the Dow Jones Industrial Average
DJIA,
-0.50%
fell 172 points, or 0.5%, to 33980, the S&P 500
SPX,
-0.72%
declined 31 points, or 0.72%, to 4274, and the Nasdaq Composite
COMP,
-1.25%
dropped 164 points, or 1.25%, to 12938. The Nasdaq Composite is up 21.5% from its mid-June low but remains down 17.3% for the year to date.

What’s driving markets The S&P 500, the Wall Street benchmark, by midweek had rallied more than 17% off its mid-June low as investors became more optimistic that a deceleration in consumer price rises could allow the Federal Reserve, and its peers worldwide, to be less aggressive in hiking borrowing costs. However, the bounce saw stock indices looking overbought, according to momentum gauges like the S&P 500’s 14-day relative strength index, and that left them vulnerable to disappointment. Sure enough, resurgent fretting over central bank mo …

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