Stocks may continue to perform poorly in early Friday trading after finishing the previous slightly mixed one. Major index futures are now showing a nearly flat open. market, The Dow futures are down only 19 points.
Traders may be reluctant to take significant steps ahead of the Fed’s long-awaited monetary policy meeting next week.
The Federal Reserve Board is widely expected to leave monetary policy unchanged, but it can address the outlook for asset purchase programs.
Minutes of the Federal Reserve Board’s last meeting showed that the central bank was ready to begin curtailing asset purchases by the end of the year.
Traders may pay close attention to the wording of the post-conference statement, with some recent disappointing economic data suggesting that the Federal Reserve Board may push back its plans.
Stocks can also be volatile today as stock options, individual stock futures, stock index futures, and stock index options all represent four times the witch’s day that expires on the same day.
The University of Michigan will release a preliminary report on consumer sentiment in September, shortly after the transaction begins. Economists expect the consumer sentiment index to plummet to 70.3 in August and then rise to 72.2 in September.
Stock prices fluctuated during the trading session on Thursday, with little change that day. The key average recovered from an early downturn, but eventually ended the session on the other side of the unchanged line.
After falling nearly 275 points in the morning trading, the Dow closed at 34,751.32, down just 63.07 points, or 0.2%. The S & P 500 also fell 6.95 points (0.2%) to 4,473.75, while the Nasdaq rose 20.40 points (0.1%) to 15,181.92.
In foreign trading, the Asia-Pacific stock market almost rose during Friday’s trading. Japan’s Nikkei 225 index rose 0.6% and Hong Kong’s Hang Seng index rose 1%.
Meanwhile, major European markets are performing differently on the day. Germany’s DAX index fell 0.1%, while France’s CAC 40 index and the UK’s FTSE 100 index both rose 0.2%.
In commodity trading, crude oil futures fell unchanged from $ 0.39 to $ 72.22 after entering unchanged at $ 72.61 a barrel on Thursday. Meanwhile, gold futures have risen from $ 3 to $ 1,759.70 per ounce after plunging from $ 38.10 to $ 1,756.70 per ounce in the previous session.
On the currency side, the US dollar is trading at 109.96 yen, compared to 109.73 yen at the end of the New York trading on Thursday. Against the euro, the dollar is valued at $ 1.1778 compared to yesterday’s $ 1.1767.
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U.S. stocks could increase poor performance in early trading
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