US stock futures were flat the following Thursday The fifth consecutive day of losses for the S&P 500 As Wall Street was weighing the possibility of a recession.
Dow Jones Industrial Average futures added 6 points, or less than 0.1%. S&P 500 futures rose 0.1%, while Nasdaq 100 futures rose 0.2%.
shares Runway rental It was up more than 17% in pre-market trading. Online retailer It exceeded revenue expectations in its most recent quarter As shoppers chose to borrow designer clothes amid soaring inflation.
On Wednesday, the S&P 500 fell 0.19%, its fifth consecutive losing session. The Dow was virtually flat adding just 1.58 points. Meanwhile, the Nasdaq Composite fell 0.51%.
The Federal Reserve is expected to issue a 50 basis point rate hike next week. It’s a smaller increase than the previous four price hikes. However, investors are increasingly worried about whether the central bank can avoid a recession next year in its attempt to crush inflation.
“We’ve been waiting for earnings to drop, we’ve been waiting for CEOs to acknowledge the fact that a recession is more likely than not, and here we are,” Liz Young, SoFi’s chief investment strategy officer, said Wednesday. On CNBC’s “The Closing Bell: Overtime.”
Young added, “It’s hard for me to see how we wouldn’t have one. But I think it would be a good thing if we just finished.”
On the economic front, investors await the latest data on weekly jobless claims before the bell on Thursday. Economists polled by Dow Jones expect a reading of 230,000, up slightly from the previous week’s total of 225,000.
Traders expect the latest earnings results from Lululemon AthleticaAnd the DocuSignAnd the from Broadcom And the Costco Thursday after the bell.
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