Nasdaq futures fall as stocks try to end strong July

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Futures contracts related to major US stock indexes at the start of an overnight session on Thursday evening, as weak earnings reports from Amazon threatened to curb other strong July on Wall Street on the last day of the month. Was traded mixed.

S & P500 Futures Flow 0.3%, Nasdaq 100 It fell 0.7%. Dow Futures Added 20 points.

After Thursday’s closing bell, this week’s Flood earnings report continued, with e-commerce giant Amazon and social media platform Pinterest providing investors with up-to-date profits.

Amazon Since then, stocks have fallen 7.1% in overtime trading Reported first quarter earnings mistake In 3 years and gave weaker guidance. Pinterest Then it decreased by another 19% Saying you lost your monthly users Three months ended on June 30th.

Online securities stocks Robin hood It opened on Thursday at $ 38 per share on the Nasdaq, but eventually closed its debut session below $ 34.82 per share by more than 8%.

Stocks rebounded during Thursday’s regular session, even after the US Department of Commerce said in the second quarter that US economic growth had slowed slightly.

The Dow Jones Industrial Average rose about 150 points on Thursday after hitting a daytime high. The S & P 500 also hit a record high, but rose 0.4% to close at 4,419.15.

The technology-intensive Nasdaq Composite underperformed by a 0.1% rise, curbed by a 4% decline in Facebook shares after the social media company’s earnings report.

These benefits were added to the otherwise healthy month for the Dow, S & P 500 and Nasdaq. Composite and Dow added 1.89% and 1.69% in July, while the broad S & P 500 rose 2.83% over the same period. Utilities, healthcare, real estate and tech stocks boosted the S & P 500 this month, but energy and finance are lagging behind.

Thursday’s positive session came despite government reports showing US gross domestic product accelerated 6.5% in the second quarter On an annual basis, it is well below the Dow Jones estimate of 8.4%.

GDP updates weren’t the only economic news that Wall Street covered this week. Many investors were reassured that the Federal Reserve did not show an imminent plan to dial back asset purchases.

Federal Reserve Board Chair Jerome Powell said Wednesday that the economy has come a long way since the Covid-19 recession. How to go Before the central bank considers monetary easing policy adjustments.

“Recovery is in many ways the most optimistic forecasts, as Chairman Powell said yesterday, especially embarrassed by expectations for second-quarter GDP,” Stiffel’s chief economist Lindsey Piegza said Thursday afternoon. It surpassed. ” “Growth was strong in the first half as US companies reopened and US consumers were anxious to enter the market and spend.”

The Fed will receive the latest version of its preferred inflation gauge, the Consumer Expenditure Price Index, at 8:30 am EST on Friday.

Nasdaq futures fall as stocks try to end strong July

Source link Nasdaq futures fall as stocks try to end strong July

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