Traders work on the trading floor of the New York Stock Exchange (NYSE) on November 16, 2023 in New York City, the United States.
Brendan McDermid | Reuters
Stock futures were trading near the flat line Wednesday night after the S&P 500 and Nasdaq Composite posted their fourth straight day of losses.
futures Stocks linked to the S&P 500 rose 0.04%, while Nasdaq 100 Futures up 0.1%. Dow Jones Industrial Average Futures Has not changed much.
In extended transactions, credit bureaus Ikefax The company’s shares fell more than 9% as its second-quarter guidance disappointed, falling short of Wall Street expectations.shares Las Vegas Sands Shares fell nearly 3% after first-quarter revenue slightly topped analysts’ expectations.
Technology stocks underperformed on Wednesday, S&P 500 Index and Nasdaq Index recording their fourth consecutive defeat. Nvidia Artificial intelligence stocks fell nearly 4%, sending both indexes lower. 30 stocks Dow Chemical It was the seventh session of declines in eight sessions.
Wednesday’s market pullback added to Wall Street’s second-quarter difficulties. All three major indexes are lower so far in April, in sharp contrast to a stronger-than-expected market performance in the first quarter. The Dow, S&P 500 and Nasdaq also closed below their 50-day moving averages.
“The initial support level for the S&P after the break is 5,000 or just below that,” Jason Hunter, head of technical strategy at JPMorgan, said on Wednesday’s “Closing Bell.” “The question now is: Will the rebound come from there? Starting there…and if so, can it get back to the breakout level above the 50-day moving average, which is the gap area?” He said he would target the S&P 500 at 5,150 to 5,200. regarded as a key resistance level.
On the economic front, initial jobless claims data will be released on Thursday morning, as will the March existing home sales report.
Earnings season is also heating up Alaska Airlines Group and key companies Report results before ringing, then Netflix afternoon.
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