Stock futures trade flat as investors await economic recovery. On Thursday, stock futures were steady during overnight trading.
Dow futures dropped 20 points. S&P 500 futures fell 0.08% and Nasdaq 100 futures declined 0.09%.
On the same day, the Dow Jones Industrial Average shed 63 points after reaching as much as 274 points at its low. The S&P 500 tumbled 0.16%.
The Nasdaq Composite rose 0.13% as Netflix, Microsoft and Amazon all closed in the green.
According to the Census Bureau’s Thursday’s report, August’s retail sales climbed 0.7% for the month while the Dow Jones estimated a decline of 0.8%.
The Labor Department’s economic data showed that weekly jobless claims increased to 332,000 for the week ended Sept. 11 against the Dow Jones estimate 320,000.
“The economy is widely thought to be slowing under the weight of the Delta variant. Combined with a bad historic September stock market seasonality and ongoing fears of inflation, has caused investors to recently turn cautious,” said Jim Paulsen, chief investment strategist for Leuthold Group. “With economic growth unexpectedly reviving again, investors are questioning whether they have been too cautious keeping a bid under the overall stock market.”
The Dow has added 0.41% and the S&P 500 is advanced 0.34% since Monday. The Nasdaq Composite is up 0.44% this week.
However, the Dow has lost 1.7% in this month. The S&P 500 is down 1.1% in September while the Nasdaq is off by 0.5% this month.