Let’s take a closer look at the movements in stock-index futures. The Dow Jones Industrial Average futures recently took a dip, sliding 120 points, which translates to a 0.27% decrease, bringing them to 43,582. Similarly, the S&P 500 futures dropped by 19.5 points, or 0.32%, settling at 6,075. Meanwhile, Nasdaq 100 futures saw a decline, falling 79 points, or 0.36%, landing at 21,929.
Reflecting back on Thursday’s market activity, the Dow Jones Industrial Average inched up slightly by 29 points, a 0.07% rise, ending at 43,326. The S&P 500, however, experienced a minor setback, slipping by 2 points or 0.04%, closing at 6,038. The Nasdaq Composite also faced a slight decline, down by 11 points or 0.05%, dropping to 20,020.
After the market reopened following a 1½ session break for Christmas, stock-index futures dropped on Friday. This marks the beginning of what’s known in the industry as the ‘Santa Claus rally’ period, during which, since 1950, the S&P 500 has typically shown average gains of 1.29% between December 24 and January 3.
Despite Friday morning’s decline in stock futures, the Dow Jones Industrial Average, Nasdaq 100, and S&P 500 are all still poised to end the Christmas week on a high note. Investors anticipate that the markets will maintain their stability as we move closer to the end of 2024.
As for upcoming data, investors will be keenly observing fresh reports from the U.S. Census Bureau. These include November’s Advanced U.S. trade balance in goods, as well as updates on Advanced retail inventories and Advanced wholesale inventories.
