Dow Jones, S&P 500, Nasdaq futures: The three main Wall Street indices — the Dow Jones, the S&P 500 and the Nasdaq Composite — are set for a negative start on Friday, as upbeat economic data from Europe dashed nascent hopes of an earlier end to the current cycle of rising interest rates.
Dow Jones, S&P 500 and Nasdaq Composite futures were down between 0.6 per cent and 0.9 per cent at the last count on Friday evening in India, ahead of the opening bell on Wall Street. MSCI’s All-Country World Equity index — which broadly captures global equity movement — was down half a per cent.
Analysts awaited data on home sales and personal income from the US for more clarity on the state of the world’s largest economy, and the future course of benchmark interest rates.
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How Dow Jones, Nasdaq futures moved
Here’s a look at how futures of the three Wall Street indices, the Dow, the S&P 500 and the Nasdaq Composite, fared at 6 pm in India:
- S&P 500: down 25 pts — or 0.6 per cent — at 3,993.8
- Dow Jones Industrial Average: down 184 pts — or 0.6 per cent — at 32,998
- Nasdaq Composite: down 104.8 pts — or 0.9 per cent — at 12,102.8
On Thursday, the Dow Jones, the S&P 500 and the Nasdaq finished a choppy session around half a per cent higher, with the S&P 500 halting a four-day losing streak, as investors grappled with how interest rate policy might affect the US economy.
An official report pegged US GDP growth at 2.7 per cent in the quarter ended December 2022, as against an earlier reading of 2.9 per cent. Separate data showed an unexpected fall in the number of people filing jobless claims in the world’s largest economy, reflecting tight labour market conditions.
How Dow Jones, S&P 500, Nasdaq Composite fared on February 23
- Dow Jones: up 0.3 per cent
- S&P 500: up 0.5 per cent
- Nasdaq Composite: up 0.7 per cent
(With inputs from agencies)