Nasdaq futures fell on Thursday as investors sold risk assets and worries about the U.S. economic outlook grew.
futures The index relative to the Nasdaq 100 fell 0.4%, while S&P 500 Index Futures fell 0.1%. Futures and Dow Jones Industrial Average Hovering around the flat line.
Investors have dumped popular technology and chip stocks as economic worries resurface. Nvidia and Advanced Micro Devices fell more than 1%, while Meta Platforms, Microsoft and Alphabet all fell less than 1%.
New labor market data on Thursday sent mixed signals about the health of the U.S. economy, as questions remain about whether the Federal Reserve is lagging behind in cutting interest rates. Private employment data showed the weakest growth since 2021, adding to concerns about a labor market slowdown. However, weekly jobless claims fell from the previous week.
Markets have shown heightened sensitivity to potential growth scares in recent weeks, including a sell-off triggered by weak manufacturing data on Tuesday. That brings increased scrutiny on labor market data, with all eyes on Friday’s August non-farm payrolls report. A weak July report released last month stoked fears of a recession and triggered a flurry of volatility in August.
Emmanuel Cau, head of European equity strategy at Barclays, said: “While the data received is mixed, it is not a collapse and the global rate cut cycle should help the economy achieve a soft landing and extend the cycle into 2025.” “We think this It’s a generally positive environment for the stock market, but a lot of it is arguably already priced in and there are a lot of unknowns to overcome.”
Tesla The electric vehicle maker said shares rose about 3% in pre-market trading Plan to launch fully autonomous driving The software will be available in Europe and China early next year. Frontier Communications Then it dropped 10% Verizon talk Acquired the company in a $20 billion deal. Verizon rose 1%.
Thursday’s pre-market trend is at S&P 500 Index and Nasdaq Index Both ended lower for the second consecutive trading day. this Dow Chemical Won by 38 points. All three averages were down in the week ahead of Friday’s keynote report on August non-farm payrolls.
