Dow Futures Trade Lower After Negative Session

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© Reuters Dow Futures Trade Lower After Negative Session

By Oliver Gray – U.S. stock futures were trading steady during Wednesday’s evening deals, after major benchmark averages finished the regular session lower amid growing fears of an economic downturn after Federal Reserve chair Jerome Powell noted that the central bank remains fully committed to bringing prices under control, despite the possibility of recession.

By 6:45pm ET (10:45pm GMT) Dow Jones Futures were down 0.1%, S&P 500 Futures fell 0.2% and Nasdaq 100 Futures were down 0.4%.

Ahead in the session, market participants will be looking ahead to weekly jobless claims data, while earnings reports from Darden Restaurants Inc (NYSE:DRI) and Rite Aid Corporation (NYSE:RAD) will be closely watched. Powell is also slated to give remarks to the House, after addressing the Senate on Wednesday.

During Wednesday’s regular trade, the Dow Jones Industrial Average retreated 47.12 points or 0.2% to 30,483.1, the S&P 500 fell 0.1% to 3,759.9 and the NASDAQ Composite dipped 0.2% to close at 11,053.1.

Energy companies were among the biggest laggards as Crude Oil prices retreated, with Occidental Petroleum Corporation (NYSE:OXY) down 3.6%, Devon Energy Corporation (NYSE:DVN) falling 5%, Diamondback Energy Inc (NASDAQ:FANG) down 4.7%, Exxon Mobil Corp (NYSE:XOM) dipping 4% and ConocoPhillips (NYSE:COP) down 4.4%.

On the bond markets, United States 10-Year yields were at 3.16%.