Stock futures were little changed on Friday as investors tried to hang on to January’s rally amid concerns about monetary policy and sluggish earnings.
And futures contracts linked to the Dow Jones Industrial Average fell 14 points, or less than 0.1%. S&P 500 and Nasdaq-100 futures rose 0.1% and 0.3%, respectively.
Nordstrom It fell more than 4% after weak holiday sales were reported and year-end forecasts were trimmed. Netflix It jumped 5% after posting more subscribers than expected even though its quarterly earnings missed analyst estimates.
Wall Street is off another bearish session, with the Dow Jones and the S&P 500 posting a three-day losing streak as corporate earnings and economic data point to a slowing economy. The Dow is down more than 252 points, or 0.76% and is now down 0.31% year-to-date. The S&P 500 fell 0.76% and the Nasdaq Composite lost 0.96%, but both indexes have been positive for the year.
For the week, all three indices are on track to close lower. The Dow Jones fell 3.67%, on track to post its worst week since September. The S&P 500 is down more than 2.5% and could post its worst weekly performance since December. The Nasdaq is down more than 2% and is on track to snap a two-week winning streak.
“Quick Money,” Tim Seymour, founder and chief investment officer of Seymour Asset Management, said on CNBC.
These forward looking indicators include economic data such as retail sales and industrial production. “This is where the market started to crash,” he said.
Going forward, investors will continue to monitor corporate earnings, as SLB Oilfield Services Name and Ally Financial will release a report on Friday. They will also listen intently to speeches from Fed officials ahead of the February central bank meeting, looking for clues as to how big a rate hike is likely to be imminent.
“Reader. Infuriatingly humble coffee enthusiast. Future teen idol. Tv nerd. Explorer. Organizer. Twitter aficionado. Evil music fanatic.”