Shares fell on Friday as markets digested a three-day rally.
Industrial average of the Dow Jones
futures fell 210 points, or 0.6%, on Friday after the index rose 417 points on Thursday.
S & P500
futures fell by 0.7%, while
futures were down 0.8%. The S&P 500 was up nearly 6% from Monday’s close to Thursday’s close as news of the war indicated diplomatic progress and the markets understood that the Federal Reserve will raise interest rates several times this year to ward off the hot inflation. But with little news in terms of new news, the market is once again focusing on the lack of progress between Ukraine and Russia.
“Stock futures went on sale late yesterday following negative Russia-Ukraine stocks as traders continue to digest the sizable post-Fed rally,” wrote Tom Essaye, founder of Sevens Report Research.
St. Louis Federal Reserve Bank chairman James Bullard released a statement explaining why he disagreed when the Fed decided to raise interest rates by a quarter of a point. The result: Inflation is too strong and the economy is resilient enough to have handled more of it. However, don’t expect it to become Fed policy. “In conclusion, Bullard wants to go completely cold turkey to easy money flow, but he has a history of having loose lips, so I wonder how much influence he has on others that they tend to be. much more methodical with their desire to tighten, ”wrote Peter Boockvar, chief investment officer of Bleakley Advisory Group.
Global developments aside, options market activity could have its say on the direction of the indices throughout Friday. Approximately $ 3.5 trillion worth of single stock and index level options contracts are maturing. This means more trades, which could create greater volatility.
Overseas, the pan-European
it fell by 0.6%, while that of Hong Kong
Hang Seng Index
it slid 0.3%, after posting its largest two-day gains since 1998 on Wednesday and Thursday.
Here are 3 titles moving on Friday:
“Meme” preferred stock and retail investors
(ticker: GME) fell nearly 7% in US pre-market trading after the game retailer reported a surprise fourth-quarter loss at the end of Thursday, even though sales were above expectations. Other meme titles were lower, with
(AMC) down close to 2% e
Bath to bed and beyond
(BBBY) down 2%.
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