US stock futures show slight recovery signs

by / ⠀News / April 18, 2024
"Slight Recovery Signs"

U.S. stock futures showed signs of recovery on Wednesday, posting slight gains after three days of sustaining losses. The S&P 500 index rose by 0.18%, and the Dow Jones Industrial Average futures followed suit with a 0.15% increase. The Nasdaq 100 futures also registered a 0.2% gain. This upward trend suggests a potential stock market rebound despite minor declines in the commodities market.

In after-hours trading, the results were mixed. Some stocks outperformed expectations, while others trailed. The forex market held stability, while Bitcoin suffered a 7% fall. Despite market volatility, both gold and silver failed to witness significant buying interest.

Signs of recovery in US stock futures

The bond market, however, closed positively, a phenomenon that caught market participants off guard.

An index managed to break a six-day negative streak on Tuesday and posted 0.17% gains, primarily because of a 5% rise in one company’s shares. On the other hand, other indexes noted losses for the third consecutive day. Another index rebounded on Wednesday and ended a seven-day losing streak, primarily due to a 6% rise in a particular company’s shares. However, two indexes recorded the fourth day of straight losses.

Federal Reserve Chair Jerome Powell’s comments on potential rate cuts contributed to these market fluctuations. Investment strategist Ross Mayfield highlighted that the aggressive reevaluation of federal expectations worried investors. He added that Powell failed to alleviate such concerns.

Mayfield predicts that except for possibly surging oil prices due to geopolitical events, stock trades may remain range-bound in the near term. All eyes will be on oil prices, as any potential conflict or disruption in oil-producing regions could send them shooting up.

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Global ratings agency Fitch made headlines recently when it downgraded the long-term default ratings of Chinese tech powerhouses Tencent and Alibaba from “stable” to “negative. This move aligns with the agency’s earlier decision to downgrade China’s economic outlook, while maintaining its A+ rating.

About The Author

Kimberly Zhang

Editor in Chief of Under30CEO. I have a passion for helping educate the next generation of leaders.


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