Stock futures rise slightly following Thursday’s wild ride

People walk outside of the New York Stock Exchange.

Spencer Platt | Getty Images

U.S. stock futures opened higher on Thursday night after a volatile session in which the recent tech sell-off resumed.

Dow Jones Industrial Average futures were up by 76 points, or 0.3%. S&P 500 futures gained 0.3% along with Nasdaq 100 futures. 

The Dow ended the regular session down more than 1% along with the S&P 500. The Nasdaq Composite dropped 2%. All three of the major indexes had popped before closing lower.

That whipsaw action came as tech — the best-performing market sector year to date — continued its recent downward trend. Facebook, Amazon, Apple, Netflix, Alphabet and Microsoft all closed sharply lower on Thursday. Tesla, which was up more than 8% at one point, posted a gain of just 1.4%.

Douglas Busch, founder of, said a “hallmark” of a healthy market is closing near its high after a weak start. “The opposite of that action could be the definition of how the benchmarks fared Thursday.”

“Decent early gains quickly faded, and as many stated last week’s lows were critical to hold,” Busch said in a note to clients. “Perhaps, for the first time in a while, we can say advantage bears.”

Thursday’s declines put the S&P 500 down more than 2% for the week along with the 30-stock Dow. The Nasdaq, meanwhile, has dropped 3.5% week to date.

Another one-week decline would mark the S&P 500’s first back-to-back weekly drop since May. The broader market index was also on pace for its worst week since June 26, when it slid 2.9%.

“The next couple of sessions will be crucial in judging the possible extent of the pullback, and bulls will be looking for signs of positive divergences as the major indices approach their 50-day moving averages,” said Ken Berman, strategist of Gorilla Trades.

In corporate news, Peloton and Oracle rose in after-hours trading on the back of better-than-expected quarterly results. Peloton gained more than 6% and Oracle climbed 3.7%.

On the data front, the latest reading on the U.S. consumer price index is set for release Friday at 8:30 a.m.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

Source link




JD Health Hong Kong IPO raises $3.5 billion

Several boxes of goods, bought from, are stacked on the floor.Zhang Peng | LightRocket | Getty ImagesGUANGZHOU, China — JD Health, the...

Paul Newman’s 1979 championship-winning Datsun 280ZX race car for sale

Actor Paul Newman's other great passion was auto racing, and unlike some with boldface names who dabble in the sport, Newman didn't just...

GM Offering Cadillac Dealers Up to Half a Million Bucks to Ditch the Luxury Brand

Most, if not all, new Cadillacs around the world will be electric within the next 10 years. No doubt, this will be a...

Capitol Police suspends 6 officers, investigates dozens more in probe of Jan. 6 riot

A U.S. Capitol Police car drives past the U.S. Capitol in Washington, U.S., January 26, 2021.Al Drago | ReutersThe U.S. Capitol Police has...

Nikola threatens to sue Hindenburg Research after fraud accusation

Nikola Corp said on Friday it could take legal action against Hindenburg Research, the day after the short seller issued a scathing report accusing...